No matter what type of mortgage you need, MCA is here to help and you can count us for home loans made easy. Ranging from $417,001 to $2,000,000 jumbo mortgages allow buyers the option to either purchase or refinance the home of their dreams. If you are looking for a home that is higher than the cap set by Freddie Mac or Fannie Mae, then you will be looking for jumbo loans to cover your financing. In your area, the average house may cost more than the cap set by Freddie Mac or Fannie Mae.
The only option open to you may be a jumbo loan. This is true in major metropolitan areas like New York or Los Angeles. If you are ready to take a jump into the jumbo loan pool, then there are some great advantages that you will have. A bigger home, better credit, and less down are just some of the attractive aspects to getting into your non traditional loan. Let us help you evaluate your personal situation and assist you in finding the right loan program that works best to meet your individual goals and needs.
Benefits on jumbo loan:
- You can obtain financing for loan amount up to $2 million.
- Provides the convenience of one loan for the entire loan amount and the choice of a variety of loan options
- Second homes up to 80% LTV (Loan-to-value) ratio.
- Interest rates are usually higher on jumbo mortgage loans than on conforming loans with lower loan amounts.
- If you choose an interest-only option, you cannot build equity through monthly interest-only payments without making voluntary principal payments during the interest only period.
With a 30 year fixed rate mortgage, you would have a lower monthly payment compared with a 15 year fixed rate mortgage, but you’ll pay more interest over the term of the 30 year loan. Depending on what you can comfortably afford for a monthly mortgage payment, a 30 year fixed rate mortgage might be a better fir for your budget. Let us help you evaluate your personal situation and assist you in finding the loan program that works best to meet your individual goals and needs.
Why should you work with GLI?
Great Loans and Investments’ mission is to fulfill the home buyer’s dreams of ownership.
GLI’s customer satisfaction and our integrity is reflected in our “A” rating with the Better Business Bureau.
- Most important to us is customers satisfaction (Check out our customer reviews)
- 30+ years of mortgage lending experience
- Dedicated Mortgage Loan Consultants and personalized service
- Nationwide direct lender ranked as top 200 U.S. lenders
- Speedy process and approvals
- Rates and fees delivered as promised
Need expert advice on a new loan?
Call us at 800-974-4434 and speak with one of our experienced Mortgage Loan Consultants. Engage in a Live Chat with one of our mortgage bankers online. Complete our Free Quote form if you already know what you want. Complete our Online Loan Application and receive quick pre-approval!