You’re ready to buy a home but live in one of the nation’s priciest housing markets. Inventory is low. Demand is high. And homes routinely cost more than $1 million.
What can you do when you live in a high-priced area?
Get on the phone and talk to a loan officer about taking on a jumbo mortgage. A type of non-conforming loan, jumbos in most housing markets can buy you a home worth more than $510,400 — the limit for “conforming loans” supported by mortgage giants Fannie Mae and Freddie Mac. Non-conforming loans are any that exceed that funding limit.In some high-priced markets, the minimum financing threshold starts at $765,000.
Movement’s expanded jumbo loan products
Movement Mortgage has investors ready and willing to fund these loans, and a Secondary Market department creating jumbo options for a variety of localities and homebuyer needs.
Let us know how we can help you with your home purchase in a high-priced area.
For more information about this loan program, please contact your local Loan Officer. Eligibility, programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval.