Qualifying for a jumbo loan is not much different than qualifying for a conforming home loan. Your credit score and credit history, amount of down payment, debt-to-income ratio and money remaining after closing will all be taken into consideration when you apply for a jumbo loan. Generally speaking, credit score requirements for jumbo loans are the same as for conforming loans, but jumbo loans can require that you have about a year’s worth of total monthly housing payments left over after closing between your liquid and retirement savings assets. However, if you have a high down payment and a low debt-to-income ratio, you may qualify for a jumbo exception.
Jumbo loans can sometimes offer more flexibility than a conforming loan, particularly if you have significant cash reserves. You may be able to qualify for a jumbo loan even with a higher debt-to-income ratio, or you may be able to put less than 20 percent down without a mortgage insurance requirement. Additionally, income calculations for a jumbo loan can be more reasonable than for a conforming loan. Talk to a Janus Mortgage representative today about whether a Janus Mortgage Jumbo Loan can help you create your own Janus Mortgage Moment!
Applying For A Jumbo Home Loan
Applying for a Janus Mortgage Jumbo Home Loan is simple. Click our "Apply" button above to schedule your appointment at your nearest branch, or apply online or call us today at the number listed above. We look forward to making your home-buying dreams become a memorable experience with our Janus Mortgage Jumbo Home Loan.
Janus Mortgage Corporation is a mortgage broker licensed in the State of California, under the auspices of the California Bureau of Real Estate license number 02038085 and the National Mortgage License Registry NMLS Number 1690954, . All offers for loan programs are made for loans on California properties only.