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"I recently closed on a mortgage loan through Total Mortgage and I want to let you know how pleased I was with the procedure. I have been through this process numerous times, and each time I have had problems with honesty and communication. That is, until I used Total Mortgage. My loan officer is Paul P. and the processor is Tiffany A... more...
- Kevin B., Michael P. B., Toms River, NJ
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Super Jumbo Mortgage Programs
At the luxury end of the home market, purchasers seek out Super Jumbo Mortgage programs to help buy their dream home.
Super Jumbo Mortgage programs are much more complicated than standard conforming mortgages. If you are looking for a loan amount over $1 million, it is vitally important that you seek expert advice. Total Mortgage has experienced Super Jumbo Mortgage program advisers available for consultation. Call 877-868-2503 for more information and view today's low current mortgage rates.
Super Jumbo Mortgage Programs Specifics
Super Jumbo Mortgage programs involve loan amounts above both the standard conforming loan limit and the amount that defines a Jumbo Mortgage program. The conforming limit is defined by the maximum loan amount available for purchase by Fannie Mae and Freddie Mac, the two federally charted organizations that procure mortgage securities. Unlike conforming loans, Super Jumbo Mortgage programs are not regulated by these two charted agencies. Therefore, each particular lender internally defines the exact dollar amount that constitutes a Super Jumbo Mortgage program. Super Jumbo Mortgages typically start at a loan amount over $1 million and can extend to a maximum of around $10 million.
Super Jumbo Mortgage Program Options
The risk to mortgage lenders is normally proportionate with the size of the loan. Therefore, Super Jumbo Mortgage programs have a high risk association for both the investor and the mortgagee. However, just because Super Jumbo Mortgage programs are weighted as a higher risk doesn't mean that they need to be totally inflexible. There are numerous options to consider with your mortgage advisor to ensure you get the right rate, tax benefits and the term of the loan fits your financial situation.
Get expert advice on Super Jumbo Mortgage programs!
We know you're busy, so feel free to complete the mortgage application online to be contacted by a loan advisor or you can always call us at 877-868-2503!
Call a Total Mortgage expert now at 877-868-2503 to find out how we can customize a mortgage loan with some of the lowest current mortgage rates for you.
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