Jumbo Home Loans Gresham OR

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

A National Credit Restorers
(503) 256-2000
17233 Se Division St
Portland, OR
Landmark Reverse Mortgage
503-358-7707
12901 SE 97th Ave
Clackamas, OR
1st Columbia Mortgage
(503) 251-8877
10325 Se Holgate Blvd
Portland, OR
Union Bank of California N.A.
(503)4501219
P.O. Box 3121
Portland, OR
Mortgage Loans Northwest
503-233-6569
5015 SE Hawthorne Blvd
Portland, OR
1st American Dream Mortgage
503-786-2059
15027 SE Mcloughlin Blvd
Portland, OR
1st Rate Mortgage Inc
(503) 548-8111
735 Se 9th Ave
Portland, OR
First Houston Northwest
360-213-1129
201 NE Park Place Suite #195
Vancouver, WA
Norris, Beggs & Simpson Companies
(503) 223-7181
121 SW Morrison Street
Portland, OR
Security Title Guaranty Company
(503) 549-7949
707 SW Washington
Portland, OR

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

A National Credit Restorers

(503) 256-2000
17233 Se Division St
Portland, OR

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