Jumbo Home Loans Los Lunas NM

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

Sun Loan Company
(505) 565-9414
2211B Main St SE
Los Lunas, NM
State Employee Credit Union of New Mexico
(505) 565-8400
1870 Emilio Lopez Rd NW
Los Lunas, NM
Bank of the West
(505) 866-7154
2351 Main St SE
Los Lunas, NM
Payday Loans
(505) 865-8885
3476 State Highway 47
Los Lunas, NM
Wells Fargo Bank Na
(505) 865-9618
1027 Main St SW
Los Lunas, NM
Wells Fargo Financial
(505) 866-1308
2510 Main St NE Ste J
Los Lunas, NM
Pawn City Inc
(505) 865-8885
Los Lunas, NM
Fastbucks
(505) 565-0643
3526 State Highway 47
Los Lunas, NM
Dash For Cash
(505) 565-3911
207 Highway 314 SW
Los Lunas, NM
Check 'n Go
(505) 565-9743
830 Main St NE
Los Lunas, NM

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

Sunset Mortgage Corp

505-247-2578
2701 San Pedro NE Suite 21
Albuquerque, NM


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