90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Silverthorne CO.
Are you looking for a Silverthorne Colorado Jumbo mortgage company?
There has never been a better time than right now to take advantage of this program. We specialize in helping luxury home buyers who need financing for higher jumbo loan amounts.
What is a jumbo home loan?
A jumbo mortgage loan in most counties is any loan that is greater than $417,000. However, there are some "high balance" counties in Colorado which are listed at the bottom of this article, or you can 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 home loan rates higher on jumbo mortgages in Silverthorne?
Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. Call to obtain a customized quote for your situation as rates can vary according to your scenario and what the market is doing.
How do you qualify for a jumbo mortgage loan in Silverthorne Colorado?
Jumbo mortgages can be more difficult to qualify for than conforming loans. You must first of all of good credit. Your credit score must be above 700, and for higher loan amounts, or higher loan-to-value ratios, your score must be above 740. Down payment requirements are as little as 10%, but rates 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. Debt-to-income ratios must also be reasonable, generally in the 41-43% maximum range. Income must be documented through tax returns and/or W2s. Silverthorne Jumbo mortgages are only for primary residences and second homes. No investment properties!
What kind of loans can you get with a Silverthorne Jumbo mortgage?
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 jumbo home buyers and can also help with jumbo home loan refinances. Call us in the office....we will give you a customized Silverthorne CO Jumbo Home Loan quote and honest answers to your questions!
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