Jumbo Home Loans in Evergreen Colorado

Jumbo Home Loans in Evergreen Colorado

Good news!  Affordable Jumbo Home Loan financing can still be found.

A Jumbo Home Loan is one where the loan amount exceeds $417,000.  Not difficult in some areas of Colorado, including Evergreen, Boulder, and Summit County, to name a few near Denver. 

In some of those high-cost areas, your loan amount must be much higher to be classified as a Jumbo Home Loan, so you may fall into a category called "Conforming High Balance."  It's good news if you do, because conforming high balance loans have rates only slightly higher than a conforming loan less than $417,000.

However, if you are not in the conforming high balance category, you are probably seeking a Jumbo Home Loan.  There is a perception that these loans are impossible to get in today's banking world.  Well, I'm here to tell you that nothing can be further from the truth.

Yes, there are qualifying factors, but some Jumbo Home Loan lenders have become somewhat flexible and even allow credit scores into the 600's.  Income must still be fully documented by all.  Loan-to-value ratios can go as high as 80% with some lenders, and loan amounts for some go as high as $2,000,000.

And that's not all.  Jumbo Home Loan lenders are offering rates in the 4%'s or even upper-3%'s on 5 and 7 year ARMs.  An ARM is a wise choice with most of them because fixed rates are in the 6%'s and some Jumbo Home Loan lenders don't even offer fixed products.

Primary residences and vacation homes qualify - investment properties are more difficult.  Many Jumbo Home Loan lenders won't financing investment properties. 

It's a shame that the perception right now is that Jumbo Home Loan financing doesn't exist because there are many lenders still offering great deals to high balance clients.  And maybe you're lucky and fall into the conforming high balance category.  If you have a large loan amount greater than $417,000, don't let the economy stop you from refinancing or purchasing a home. 

Rates are still at all-time lows and banks are lending!