Getting a Jumbo Mortgage

As part of the interview with Senior Loan Officer Jim O' Malley, we asked him about Jumbo mortgages. In some states like Massachusetts, the jumbo level begins at $523,750. Over that limit, it becomes much harder to get a loan. You must have at least 25% down, 6 months of reserves, and a FICO score over 720.

As part of the interview with Senior Loan Officer Jim O' Malley, we asked him about Jumbo mortgages. In some states like Massachusetts, the jumbo level begins at $523,750. Over that limit, it becomes much harder to get a loan. You must have at least 25% down, 6 months of reserves, and a FICO score over 720.

This may vary by state so be sure to look up your state's conforming loan level.

Add your Comment

or use your BestCashCow account

or

Featured - 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
District Lending
NMLS ID: 1835285
6.380% 6.250% 0.88 $4,400 $1,971 Learn More
Pure Rate Mortgage
NMLS ID: 2578474
6.482% 6.375% 0.75 $3,610 $1,997 Learn More
PenFed Credit Union
NMLS ID: 401822
6.932% 6.750% 0.88 $6,000 $2,076 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.963% 6.875% 0.63 $2,889 $2,103 Learn More