Golden Colorado Jumbo Loans

Are you looking for a Jumbo Home Loan in the Golden CO area?

It's a great time to take advantage of the jumbo mortgage program. We specialize in helping luxury home buyers who need higher balance jumbo mortgage financing. What is a jumbo home loan?

A jumbo loan in most counties is any loan that is greater than $417,000. There are some "high balance" counties in Colorado and they are listed at the bottom of this article or follow this link to the Fannie Mae County Loan Limits.

These counties allow for "conforming" rates above $417,000 and up to the county limit. Are mortgage rates higher on jumbo loans in Golden? Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, jumbo rates were higher and sometimes much higher than conventional rates.

Call us and we will provide a customized quote for your home loan as rates can vary according to your scenario and what the market is doing. How do you qualify for a jumbo mortgage loan in Golden Colorado? Stricter guidelines can make Jumbo mortgages more difficult to qualify for than conforming loans.

You must first of all of good credit. Most lenders have a minimum credit score of 700, and for higher loan amounts, or higher loan-to-value ratios, your score must be above 740. Your down payment can be as low as 10%, but rates and terms improve with more down payment, generally 20%, 25%, and 30% down will get you a better deal.

If you plan to also obtain a HELOC, or 2nd mortgage, that will also count in the loan-to-value calculation. Your debt-to-income ratio must also be reasonable, generally capped at the 41-43% maximum range. You must be able to prove your income through tax returns, or W2s, or both. Golden Jumbo mortgages are only for primary residences and second homes. No investment properties!

What kind of home loans can you get with a Golden Jumbo loan?

Fixed or adjustable rate loans are available. If you are putting less than 20% down, however, you will have to take an ARM, and they are available in 5 or 7 year terms (fixed for 5 or 7 years). Colorado High Balance County Limits 2014: Eagle County: $625,500 Garfield County: $625,500 Hinsdale County: $427,800 Lake County: $625,500 Ouray County: $425,500 Pitkin County: $625,500 Routt County: $625,500 Summit County: $625,500.

We specialize in helping higher loan amount home buyers and can also help with jumbo loan refinances. Call us in the office for a fast response and to get a customized Golden CO Jumbo Loan quote!