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Jumbo Home Loans Arizona

Are you in need of money and are considering a jumbo loan? If so, read the following article for some important information regarding the loans.

Local Companies

Cornerstone Financial Services
623332-3714
7575 E. Redfield Road #213
Scottsdale, AZ
American Trust Insurance Brokers
602882-2587
7134 W. Planada Lane
Glendale, AZ
Reverse Mortgage Concepts
480-306-4432
9915 E Bell Rd Suite 114
Scottsdale, AZ
American Home Loans
480-385-2741
6750 E Camelback RD
Scottsdale, AZ
Sun State Home Loans
480-585-1616
8765 E Bell Rd
Scottsdale, AZ
Centric Mortgage
480-607-7888
8655 E Via De Ventura
Scottsdale, AZ
Reverse Mortgage Concepts
480-306-4432
9915 E Bell Rd
Scottsdale, AZ
Mortgage Concepts, LLC
480-306-4432
7310 N 16th Street
Phoenix, AZ
Nova Home Loans
480.614.6409
8800 East Raintree Dr. Ste 180
Scottsdale, AZ
State Farm Ins. - Maria Casebeer
623412-2770
8392 W. Thunderbird Rd. # 101
Peoria, AZ

A jumbo loan is a home loan that is greater than the loan limit set by the Federal National Mortgage Association (also known as Fannie Mae) and the Federal Home Loan Mortgage Company (also known as Freddie Mac). Currently, the maximum value of a standard loan is $417,000 for a single home property; $533,850 for a two dwelling property; $645,300 for a three dwelling property; and $801,950 for a four unit property. Any single loan amount that exceeds those values will bump your loan into jumbo loan territory. Loans within the limits are referred to as conforming loans.

Because jumbo loans are not supported by the two listed Federal Mortgage agencies, they usually carry a higher interest rate. Other than the higher interest rate, jumbo loans are identical to a traditional, conforming loan. You can usually obtain a jumbo loan through the same channels as a conforming loan as well.

  1. Visit a local bank or credit union. Go into your local branch and ask to speak with a loan specialist. Explain the loan that you need and the loan specialist will walk you through the application process.

  2. Contact your financial institution of choice by phone. Place a call to your business of choice and ask to speak with a loan officer. Many financial institutions will begin the loan process over the phone and either send you the paperwork by mail or have you come into a local office to sign the documents.

  3. Apply to a specific institution through the Internet. In the interest of reaching more customers and increasing their efficiency, nearly all major financial institutions will now take your application online. Visit the site of your financial institution of choice and follow the instructions to apply for a loan.

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Click here to read the rest of the article at HowToDoThings.com

Author: Brad Halvorsen

Featured Local Company

Cornerstone Financial Services

623332-3714
7575 E. Redfield Road #213
Scottsdale, AZ
Read more about Jumbo Home Loans

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