Jumbo Home Loans Gary IN

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

Baytree Lending
219-746-4176
742 E Lincoln Hwy 30
Schererville, IN
Baytree Lending ~ Dawn Phillips
219-746-4176
742 E Lincoln Hwy 30
Schererville, IN
Payday Loan Store
(219) 882-7898
792 Broadway
Gary, IN
Check 'n Go
(219) 884-8100
3536 Village Ct
Gary, IN
Payday Loan Store
(219) 944-8332
4600 W 5th Ave
Gary, IN
Payday Loan Store
(219) 944-8332
4600 W 5th Ave
Gary, IN
Payday Loan Store
(219) 882-7898
792 Broadway
Gary, IN
Ez Pawn
(219) 887-8612
5466 Broadway
Gary, IN
Payday Loan Store
(219) 884-4340
6022 Broadway
Gary, IN
Pls
(219) 887-0694
3765 Broadway
Gary, IN

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

Baytree Lending

www.baytreelending.com

219-746-4176
742 E Lincoln Hwy 30
Schererville, IN
www.baytreelending.com

Baytree Lending Company is proud of the mortgage professionals they employ and their approach to offering individualized mortgage solutions to their customers. The company offers the most competitive conforming loan products available in the market today featuring low closing costs and attractive interest rates for purchase and refinance transactions. In addition to our conforming loan products, we’re also your FHA loan specialists. Our FHA and other unique products utilize government backed programs to provide security and affordable payments.
During these volatile economic times, and the changes taking place in the mortgage marketplace, it’s more important than ever to entrust your financial affairs to only those companies that have proven to conduct their business with integrity and honesty. Baytree Lending Company is proud of its reputation and ethical approach to offering quality products and customer service. Armed with a variety of loan programs, we can assist our customers regardless of their credit or circumstances. Baytree Lending Company is pleased to be the only call you need to make to meet your mortgage needs.

Recent actions by government agencies and others have resulted in mortgage rates inching down toward all time lows. Combined with an increasingly stable real estate market, we find ourselves in a promising time, whether you’re refinancing or purchasing the home of your dreams.


www.baytreelending.com
www.baytreelending.com

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