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Stewart Bates

NMLS ID 1821958

801-903-6319 sbates@megastarfinancial.com

Jumbo Loans

If you looking to finance a larger mortgage loan in Murray, South Jordan, Draper as well as the entire state of Utah we have amazing Jumbo loans as an option at Megastar.  Along with great lower down payment options our Jumbo products also have great features associated with having no PMI.  Megastar Financial is a leading provider of Jumbo loans in the entire state of Utah.  For more information on Jumbo loans and how to qualify call or email us today 801-903-2251.  sbates@megastarfinancial.com

What Are Jumbo Loans?

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits (Conforming Loans). Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes. Typically Jumbo Loans require a higher down payment than traditional loans.

Advantages of Jumbo Loans

With Jumbo Loans you can finance an amount greater than a conforming loan allowing you to leverage more money during the home buying process.

How to Qualify For Jumbo Loans

As a non conforming loan there are some differences in how you qualify though most lenders like Megastar will follow many of the conforming guidelines with respect to Credit, Income and down payment.  Megastar does have a NO MI program available with our Jumbo Loan

Mortgage Insurance (PMI)

Jumbo loans sometimes will require Private mortgage insurance (PMI) depending on the down payment the buyer makes.  Typically most lenders want 20% down payment or they may require PMI.

Qualify For a Jumbo Loan Today

If you looking to finance a larger mortgage loan in Murray, South Jordan, Draper as well as the entire state of Utah we can help.  We are committed to helping our clients realize the dream of buying a home.  For more information on FHA loans or how to qualify contact us today 801-903-2251.