Jumbo Home Loans Gainesville FL

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

Bank of America
(352) 336-9011
2815 NW 13th St Ste 305
Gainesville, FL
Bank of America
(352) 335-0411
Univ Ave
Gainesville, FL
Bank of America
(352) 331-1107
7606 W Newberry Rd
Gainesville, FL
Bank of America
(352) 338-6515
2627 NW 43rd St
Gainesville, FL
Bank of America
(352) 264-2929
7100 SW Archer Rd
Gainesville, FL
Bank of America
(352) 335-0411
1116 W University Ave
Gainesville, FL
Florida Auto & Payday Loans Inc
(352) 374-6656
4053 NW 113th St
Gainesville, FL
Collateral Mortgage
(352) 378-1666
2727 NW 43rd St
Gainesville, FL
National Techmark Inc
(352) 376-3777
5214 SW 91st
Gainesville, FL
I-World Loans and Phones
(352) 375-7283
830 NW 13th St
Gainesville, FL

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

McElhaney's Mortgage Services

I am known as the Lake City Reverse Mortgage expert.

386-984-5217
291 SW Sisters Welcome Rd
Lake City, FL
www.frankmcelhaney.com

I was born in Wadsworth, Ohio. I now live in Lake City, Florida and have since 1968 with the exception being an 8 year career in the US Navy. I have owned my own business in Lake City and have served the surrounding 5 counties in the North Central Florida area for 20 years. I am known as the Lake City Reverse Mortgage expert. I have been helping our Seniors receive their Senior Benefits for two and a half years. There is no better feeling than helping a Senior Get Cash and Live Better. I have been fortunate to assist people in Columbia county,Suwannee county and Hamilton Counties with Reverse Mortgages. My goal is to be the North Central Florida Reverse Mortgage expert.

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