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John The Mortgage Man
4832 Holly Rd. Suite 201
Corpus Christi, TX 78411
(361) 510-1420johnthemortgageman@hotmail.com
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Jumbo Loan Basics

INTRO

If you are looking to purchase a higher priced home or live in a more expensive part of town a Jumbo Loan might be the loan program for you. This report will educate you on exactly what a Jumbo Loan is.

REPORT

Loans above the conventional loan limit amount established by Fannie Mae and Freddie Mac are known as jumbo loans. There are also other larger jumbo loan programs for properties that are above jumbo loan limits. Those programs being called super jumbo loans and maximum super jumbo loans. Jumbo loans tend to be harder to qualify for so it is important to educate yourself so you don’t end up paying too much for one.

Here are the basics of a jumbo loan:

Higher Loan Limits– Jumbo loan limits are higher, however the limits are different from county to county.  They are never higher then $625,000 as of Oct 1 2011. Super jumbo loans have a limit of $1,500,000. Then maximum super jumbo loans go up to $20,000,000.

Higher Interest Rates– Because of the higher loan amounts, they are more difficult to close which is why the rates tend to be higher.

Not everyone can do jumbo loans but we do. They are more complicated then traditional loan program so that why you need an expert to guide through the process. Contact us today


Meet them man…the mortgage man.

Mortgage Man
Jeremy Dean
Jeremy Dean
06:16 07 Mar 19
John the Mortgage Man worked to get me and my wife into our first home this year! We had some issues with low funds, high debt and bad credit, but John helped us to determine how much we needed to save up to get in the home we wanted. Once we got there John was able to hook us up with a lender and get us a good deal on a loan. We closed in just over two weeks from the time we found a house that we wanted! John always made us feel at ease and answered any questions we had. Very knowledgeable, very responsive and very kind! Thank you John for everything! Highly recommend!!!read more
John McCoy
John McCoy
15:12 19 Feb 19
John made getting our loan processed very efficient and worry free. He will do the same for you!
CJ
CJ
19:47 20 Oct 18
12 days from application to closing, now that's fast! Great overall service, everything John said he would do, he did it. My clients were thrilled.read more
Frank J Rosati
Frank J Rosati
19:15 20 Oct 18
John made everything easy for the purchase. He had everything covered (all the associated costs, paperwork) that I needed to close. It was a pleasure to work with him again (this is my second time working with John) and I would highly recommend him to anyone looking to finance a home.read more
debbie powell
debbie powell
19:05 19 Aug 18
John goes out of the way for you to make sure you are informed, kept up to date, and always professional. Definitely goes the extra mile to help! Everything is done in a timely manner. Thanks so much John! This is my second mortgage through John McCoy and team.read more
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John The Mortgage Man
4832 Holly Rd Suite 201
Corpus Christi, TX 78411
(361) 510-1420johnthemortgageman@hotmail.com