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Make Your Dream Home A Reality

A jumbo loan is a mortgage that exceeds the conforming loan limit set by the FHFA for a given area. This is a large home loan purchase or financing (think over $500,000), and with that comes more stringent qualifications. When a loan reaches a certain level, it is no longer guaranteed by Fannie Mae or Freddie Mac, which takes on a new level of risk for lenders. Because of this, you may be required to provide a substantial down payment and have a credit score as high as 700 or 720 to qualify for financing. Other things a lender may look at or ask for when considering a borrower for a jumbo loan purchase include:

  • Debt-to-income ratio
  • Proof of ample financial health and liquidity
  • Higher closing costs
  • Higher interest rates

*Certain eligibility requirements apply to manufactured housing. Consult your Guardian Mortgage loan originator for details. Certain terms and restrictions apply. Program available only to qualified borrowers. Program subject to change without notice. Underwriting terms and conditions apply. Loan subject to credit review and approval.