Ready to find the best jumbo loan for your needs? Our guide to the best mortgage companies offering jumbo loans will make moving into your dream home a little easier.
Top Jumbo Mortgage Lenders:
The best mortgage lenders Jumbo
If you’re looking for a huge loan that doesn’t quite meet the standards of Freddie Mac or Fannie Mae, it’s time to take a closer look at individual lenders. Let’s take a look at some of the best mortgage lenders offering jumbo loan options.
1. New US funding
Jumbo loans are available for primary residences, vacation homes or investment properties.
New American Funding follows a standard closing process, which means the closing time will depend on the client and loan type. You can choose to start with prequalification or preapproval. Prequalification does not involve verifying your income. Pre-approval means that underwriters have reviewed your income and assets and are reasonably confident that you will qualify for a home loan.
-
Average days to close the loan
31-40
securely via the New American Funding Refinance website
2. Angel Oak Home Loans
Angel Oak Home Loans is a full service mortgage lender offering traditional and non-QM portfolio mortgage loans. Its Jumbo programs are for higher priced home purchases that exceed the compliance threshold set by the FHFA. Angel Oak’s Jumbo program consists of Prime Jumbo, Gold Prime Jumbo, and Non-QM Platinum Jumbo mortgage options.
- Available to purchase, cash out or refinance forward
- Loans up to $3.5 million
- Primary, secondary and investment properties
- Single family homes, townhouses, secured and unsecured condominiums
- Four years foreclosure, short sale, bankruptcy or substitute deed
- One year tax return program available
- Flexible down payment options
- 40 year fixed interest only available
3. Rocket Mortgage®
Rocket Mortgage is one of the largest mortgage providers in the country. Rocket Mortgage® can help you apply for a huge loan quickly and easily through its Rocket Mortgage® platform. Rocket Mortgage® has simplified the mortgage process to just a few easy steps. Most applicants will receive a decision within minutes, and you could qualify for up to $3 million through Rocket Mortgage Loans’ jumbo loan program. You can even qualify with a 10% deposit.
Rocket Mortgage also offers FHA, VA, USDA and conventional loans.
-
Average days to close the loan
30
4. Cross Country Mortgage
Your lender needs to know that you have a consistent and consistent income when you borrow money. This is especially important for a larger jumbo loan, which can run into the millions of dollars. You may find it difficult to get the jumbo loan you need because lenders deem your fluctuating income unreliable or may not consider non-traditional business assets.
CrossCountry Mortgage offers customized mortgage solutions if you are self-employed. CrossCountry Mortgage’s flexible asset qualifying home loan considers non-traditional sources of income and assets, perfect for business owners who have a large percentage of their money tied up in work-related businesses. You can borrow up to $6 million with an eligible business loan, and your credit score can go up to 580 points.
CrossCountry Mortgage is licensed to lend in California, Colorado, Connecticut, DC, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee , Texas, Virginia and Washington.
-
Average days to close the loan
30 – 40
securely via the CrossCountry Mortgage website
Available in: CA, CO, CT, DC, FL, GA, IL, MD, MA, MI, NH, NJ, NY, NC, OH, PA, RI, SC, TN, TX, VA, WA
5. Veterans United
You already know that a VA loan is a type of government-backed home loan that allows veterans and active duty members of the military to purchase a home without a down payment or private mortgage insurance. Private mortgage insurance is money you pay a lender if you default on your mortgage. Did you know you can also get a VA jumbo loan to buy more valuable properties?
Check out Veterans United. Veterans United offers huge 30-year VA loans at interest rates comparable to regular VA loans. Veterans United lets you fund up to $3 million in a home loan with a low down payment and more flexible credit requirements. The Veterans United team can also help you learn more about the VA loan process and help you obtain the paperwork you need to secure your loan.
-
Average days to close the loan
30
Financing your future home
Finding the right home loan doesn’t have to be confusing. Start by comparing at least a few different lenders working in your area to learn about current interest rates, the types of loans they offer, the quality of customer service, and the loan application process. Remember, a home loan can be a 30-year commitment. Take some time to make sure you get the best loan for you and your family.
Frequent questions
q
How much is the down payment on a mortgage?
A
A down payment on a mortgage can range from $0 for a USDA or VA loan to 3.5% for FHA loans and 10-20% for a conventional loan.
q
How does mortgage pre-approval work?
A
Mortgage pre-approvals provide the buyer with a letter indicating how much they can afford, assuring the agent or seller that the buyer can secure financing.
q
What is a jumbo home loan?
A
A jumbo loan, also called a nonconforming loan, doesn’t meet the standards of Freddie Mac or Fannie Mae. It is used for people who buy expensive properties.
Not all news on the site expresses the site’s point of view, but we broadcast this news automatically and translate it through programmatic technology on the site, and not by a human editor.
