Alaska
Home Loans - Jumbo
Mortgages
- Jumbo mortgages
are categorized as loans in excess of $322,700.00 for single-family
residences
- Fixed rate
loans always vary in price between conforming and jumbo loan amounts
although some adjustable rate mortgages have much higher limits
prior to altering the pricing
- Available
up to 4 million dollars
- Construction,
purchase, refinance or refinance with cash-out O.K.
- We are luxury
home specialists!
The interest
rate on our Jumbo Mortgages are nearly as low as our conventional
Mortgages. Another way to get the best rate is to consider an Adjustable
Rate Jumbo Mortgage. These are frequently much lower, depending
on short term rates. Jumbo Mortgages are our specialty!
A Jumbo Mortgage
is a mortgage with a loan amount above conventional loan limits.
Jumbo Mortgages apply when agency (FNMA and FHLMC) limits don't
cover the full loan amount. Fannie Mae (FNMA) and Freddie Mac (FHLMC)
are large agencies that purchase the bulk of residential mortgages
in the U.S. They set a limit on the maximum dollar value of any
mortgage which they will purchase from an individual lender. Currently,
this limit is $322,700. This leaves a portion of the market to look
elsewhere for placement. Other large investors, such as insurance
companies and banks, step in to fill the need with maximum mortgage
amounts going to the $1 million or $2 million range. The average
interest rates are typically greater than normal for conforming
mortgages, and vary depending on property types and mortgage amount.
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