Do you need a jumbo loan?

Most people make mistakes when they purchase their first home. Sometimes they buy in the wrong area, finance incorrectly, or buy a home that’s too small. After a few years as a homeowner, the thrill of a new home wears off, and those mistakes are harder to live with. You might even start dreaming of your ‘forever home.’

If you put in the effort to save for a substantial downpayment and keep up a good credit score, you are well on your way to buying a dream home. However, if you’re ready for something bigger and better, you need a loan that will work for your needs. A jumbo loan may be the answer.

Jumbo loans are a great option if you are looking for a higher price range home. These loans can be financed higher than traditional loans because the Federal Housing Administration limits don’t apply to them. This flexibility can give you the room to shop for a larger home at a higher price. Here are a few more reasons you might consider a jumbo loan.

• A larger property. More people are opting to move from the city to the country and are looking for homes that come with a few acres of land. If you’re ready for some extra space alongside your home, a jumbo loan can give you the mortgage flexibility to search for your perfect piece of land.
• A luxury home. After a starter home, you might be ready for a more luxurious space. If you want top-of-the-line appliances, trendy fixtures, and the latest design trends, a jumbo loan can help you find your perfect oasis.
• A fixer-upper. You can also use a jumbo renovation loan if you’ve found your next project. Some loans allow you to purchase the property and the funds you need to renovate the space. Speak to one of our advisors if that’s what you need.
• A multi-family property. Multi-generational homes can be a wonderful thing. Whether you’d like to have the space to take care of your aging parents or invite your children and grandchildren to live with you, a jumbo loan can help. A larger loan gives you the flexibility to find a space that’s big enough for everyone!
• A hot market. Real estate prices are rising! If you’re trying to buy in a hot market where sales go fast and high, a jumbo loan can give you the flexibility to get in there quickly and strike while the iron is hot!

Whatever your reason for a jumbo loan, we can help. There are a lot of great reasons to choose a larger jumbo loan for your home buying needs. Talk to a team member today, and we’ll help you figure out if a jumbo loan is the right step for you!

*Disclaimer: Limited availability in some areas.