Jumbo Home Loans Augusta GA

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

Advanced Loan Service
(706) 792-1595
3299 Peach Orchard Rd
Augusta, GA
Cash Cow
(706) 798-0088
2631 Peach Orchard Rd
Augusta, GA
Sunset Finance
(706) 772-8900
1631 Gordon Hwy
Augusta, GA
Equisource Home Mortgage Corp
(706) 736-3777
Augusta, GA
Bank of America
(706) 793-1298
2820 Peach Orchard Rd
Augusta, GA
Title Max
(706) 262-5100
821 15th St
Augusta, GA
Bank of America
(706) 849-0660
1450 Walton Way
Augusta, GA
Augusta Vah Federal Credit Union
(706) 823-3981
950 15th St
Augusta, GA
Augusta Cash Advance
(706) 860-6550
4127 Columbia Rd
Augusta, GA
Express Cash
(706) 796-8599
3120 Peach Orchard Rd Ste 10
Augusta, GA

Jumbo Home Loans

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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Author: Brad Halvorsen

Featured Local Company

Peoples Mortgage Services

864-231-7778
3901 Clemson Blvd
Anderson, SC
www.peoplesmortgageservices.com

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