Jumbo Home Loan: Take Advantage of the Lowest Jumbo Mortgage Rates

What is a jumbo home loan? Jumbo_Home Loan; Take Advantage of the Lowest Jumbo Mortgage Rates

A Jumbo home loan or “non-conforming home loan” is a type of housing loan where the loan amount is higher than the amount set by

the Federal National Mortgage Association  (FNMA or Fannie Mae) and Federal Home Loan Mortgage Corporation’s  (FHLMC or  Freddie Mac) lending guidelines.  Fannie Mae, and Freddie Mac  are the nation’s two largest government sponsored enterprises who classify the majority of home mortgages.  Each year, Fannie Mae sets the maximum limit on the amount that lenders should give out for a mortgage, based on the Federal Housing Finance Board’s single-family price survey.

Conforming Loan Versus Jumbo Home Loan

When a certain mortgage meets the standards of government-backed agencies; Fannie Mae and Freddie Mac’s underwriting guidelines in terms of credit score, income, assets and requirement, it is considered a conforming mortgage loan.  This means that the loan must not be higher than $625,500 in the high cost areas of the United States such as Alaska, Hawaii, Guam and the U.S. Virgin Islands.   The traditional conforming loan for a single family home in all other areas has a maximum lending limit of $417,000 only.  The minimum jumbo loan limits in Long Beach CA are above $729,750.

Jumbo home loans are mortgage loans that are considered too high to qualify for the government sponsored mortgage insurance programs.   The Federal Housing Administration is responsible for setting the limits on how big a mortgage can be covered by the government in insurance programs and safeguarding the lenders in case a homeowner defaults on mortgage payments.   The lowest jumbo mortgage rates for non-conforming or jumbo home loan are higher than the maximum lending limits set by FHA.   Thus, a jumbo home loan is a mortgage loan on a higher-value property.

Take Advantage of Lowest Jumbo Mortgage Rates and Its Benefits

If you are dreaming of a better home for you and your family, (that is higher than the limit set by Fannie Mae or Freddie Mac), taking advantage of the lowest jumbo mortgage rate for a jumbo home loan is the answer to cover your mortgage financing.   There may be some challenges but if you have a enough resources and qualified to acquire one, you can reap its many benefits.

The lowest jumbo mortgage rate is now available across the United States as Congress recently approved its modification.     There is now a large array of financial institutions that offers more jumbo loans like national lenders, investment firms, credit unions and even smaller banks.  More lenders have been more aggressive in their offerings for lowest jumbo mortgage rate specially for those with a solid income and substantial assets. This record low rate makes jumbo loan limits more flexible and better terms for borrowers.  The down payment requirements have now lowered to as low as 3.5% and loan period have been extended.  As many financial experts report, jumbo loan interest rates and refinance rates have dropped at a record low.

Your investments in jumbo home loans with its lowest jumbo mortgage rate,  provide you opportunities to earn enough income to upgrade your smaller home to a bigger one.  This could be the best time to bring your dream into a reality.   Fill up the short form provided or call us today for your free rate quote!

Showing properties 1 - 2 of 14. See more Park Estates Long Beach CA Neighborhood.
(all data current as of 3/27/2013)

  1. 4 beds, 1 full, 4 part baths
    Home size: 3,378 sq ft
    Lot size: 16,618 sqft
  2. 4 beds, 1 full, 2 part baths
    Home size: 2,155 sq ft
    Lot size: 7,602 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.



The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.

Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).

Date last updated: 3/27/13 5:14 PM PDT

This IDX solution is (c) Diverse Solutions 2013.