The Advantages of a Jumbo Loan
- Interest rates for jumbo loans are typically lower than conventional loans.
- Purchase a home with as little as 10% down.
- Jumbo loans are available for primary homes, second homes and investment properties, located on up to 40 acres.
- Veterans and service members who qualify for a jumbo VA loan can often buy a home with a much lower down payment compared to other loans.
The Benefits of Getting a Loan from Quicken Loans
- You get a completely online application with less paperwork.
- Home Loan Experts are available via chat, email and phone to help you get the jumbo loan that’s right for you.
- We don’t charge you to make your mortgage payments online.
- No prepayment penalties if you pay off your loan early.
Other Popular Loan Options
- 30-Year Fixed
- Adjustable Rate Mortgage
- FHA Loan
The Different Types of Jumbo Loans
- Choose between a fixed or adjustable interest rate for all jumbo loans.
- Jumbo loans are available with different terms – the length of the mortgage.
How Jumbo Loans Work
- Jumbo loans are also called nonconforming loans because they’re over conventional loan limits.
- In most of the country, the conventional loan limit is $484,350. The limit is higher in areas where housing is more expensive.
- For buying a home, we finance jumbo loans up to $3,000,000.