90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Hinsdale County CO.
Are you looking for a Hinsdale County Colorado Jumbo mortgage company?
Right now is the time to lock in a low jumbo mortgage rate. We specialize in helping luxury home buyers who need higher balance jumbo mortgage financing.
What is a jumbo loan?
A jumbo 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 Hinsdale County?
Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. Rates can vary from day to day and are dependent on your scenario so call today for a customized rate quote.
What are the qualifying guidelines for a jumbo home loan in Hinsdale County CO?
Jumbo home loans can be more difficult to obtain than conforming loans. The first requirement is that you must have 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. 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 obtain a 2nd mortgage, or HELOC, that loan 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. Income is documented through tax returns, or W2s, or both. Hinsdale County Jumbo financing is also not available on investment properties- primary residences and second homes only!
What kind of home loans can you get with a Hinsdale County Jumbo loan?
Fixed or adjustable rate loans are available. If your down payment is less than 20%, however, only ARMs are available, 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 today. We will respond quickly and will give you honest answers to your Hinsdale County Colorado Jumbo Mortgage questions.
Comments (0)Subscribe to CommentsComment