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Jumbo Home Loans Connecticut

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

SETTLERS MORTGAGE COMPANY LLC
(203) 227-2422
Evergreen Parkway
Westport, CT
A STRAIGHT TO THE POINT FINANCING
(203) 576-6877
242 GODDARD AVENUE
BRIDGEPORT, CT
Founders Home Capital Corporation
860-667-1321
75 Johnson St
Newington, CT
William Pitt Sotheby's International Realty
203-245-6700
670 Boston Post Road
Madison, CT
WPI
860-656-7671
Silas Dean Hwy
Wethersfield, CT
Joanna Martin/Coldwell Banker
203-453-4477
226 East Main Street
Branford, CT
North Atlantic Mortgage Corp.
877-794-5363
1011 High Ridge Road
Stamford, CT
Scholastic Mortgage
203-453-5555
96 Broad Street
Guilford, CT
Wells Fargo Home Mortgage
203-458-0140
125 Water Street
Guilford, CT
Coldwell Banker Coast & Country
203 458-4100
1250 Boston Post Road
Guilford, CT

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.

    ...

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

Author: Brad Halvorsen

Featured Local Company

SETTLERS MORTGAGE COMPANY LLC

(203) 227-2422
Evergreen Parkway
Westport, CT
Read more about Jumbo Home Loans

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