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Jumbo Loans

Jumbo Loans are one of the most well known Alternate A and Sub Prime products on the market. Traditionally the term refers to loans that exceed the maximum conforming loan limit of $359,650. In the past most of these programs were reserved for customers with Conforming credit profiles, but today there are numerous options for customers with less than perfect credit.

Another interesting aspect of the Jumbo market is that now these programs offer competitive rates and terms for loans under the maximum conforming loan limit. Customers sometimes use these programs due to their more liberal underwriting guidelines in lieu of the traditional conforming loan options, even though they are technically not applying for a loan amount in excess of the maximum conforming limit.

Highlights of Jumbo Loans include:

Loan amounts ranging from $50,000 - $5,000,000 or more
Potential to do 100% financing with some programs
Rates comparable or slightly higher than traditional conforming loans
More liberal underwriting guidelines and less asset requirements
Many Interest Only and ARM options on all products
Stated and No Income Documentation is a popular feature

Your Mortgage Banker at Liberty National Funding will always assess your options so that you are aware of all the products available that may help you achieve your goals.