Interested in Getting A Smaller Payment on Your Jumbo Loan Albuquerque?
What’s a Jumbo Loan?

A Jumbo Loan is a mortgage option for loan amounts over the federally mandated conventional limit. Currently, the Jumbo loan limit is $647,200. However, Congress has recently approved changes that may get you a lower rate on some jumbo loans.

Jumbo loans are much more flexible than most people think. Here is a how a Jumbo loan can help you afford your home in that high cost area:

For a Jumbo Loan you don’t always need a down payment of 20 %. Based on your home, the market, and your finances, you can refinance your jumbo loan with less than 80% equity. Or, buy a home in a competitive market with as little as 10% down.

Did you know that FHA loans are available as a jumbo? Get up to 97% financing on your home with the new, higher FHA loan limits!

Jumbo loans can either be fixed-rate or have a mortgage rate that adjusts after a fixed period. An adjustable-rate mortgage can get you a smaller monthly payment. A fixed-rate mortgage can give you secure, fixed payments year after year.