Are you in the market for a property that exceeds traditional loan limits? A jumbo loan can help you achieve your dream of owning a luxury home or investment property. At Benchmark Mortgage Companies, we specialize in flexible, competitive jumbo loan options tailored to your needs.
A jumbo loan is a type of mortgage used to finance properties that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most areas, this limit is $806,500, but in high-cost markets, it may be higher. If your loan amount goes beyond this limit, a jumbo loan may be your solution.
Our easy-to-use mortgage calculators allow you to quickly estimate your monthly payment*
Finance luxury homes, vacation properties, or investments without multiple loans.
Choose from fixed-rate or adjustable-rate terms to match your financial goals.
Rates are often comparable to traditional mortgages.
Stay informed of the moving market and get alerted when rates drop.
If you want a reliable and stable means to pay off your mortgage, a jumbo fixed-rate loan program may be for you. You can finance up to 85% of the home's value, which means you'll have greater purchasing power. What's more, you won't have to worry about your interest rate changing over time, giving you peace of mind. Plus, you'll enjoy the added program benefit of not having to pay for mortgage insurance.
A mortgage larger than the maximum eligible for conforming purchase by the two Federal agencies, Fannie Mae and Freddie Mac.
This is the process of determining whether a borrower has enough cash and sufficient income to meet the qualification requirements set by the lender on a requested loan. A pre-qualification is subject to verification of the information provided by the applicant. A pre-qualification is short of approval because it does not take account of the credit history of the borrower.
It is an upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "2 points" means a charge equal to 2% of the loan balance.
A rate lock is a contractual agreement between the lender and buyer. There are four components to a rate lock: loan program, interest rate, points, and the length of the lock.
It is the list of settlement charges that the lender is obliged to provide the borrower within three business days of receiving the loan application.
Reach out to our team of local mortgage loan officers and take the initial step towards homeownership. Our team is ready to assist you throughout the process, offering you the necessary information and guidance to help you make informed decisions for your unique needs. Don't delay any longer - contact our team today.
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