Jumbo Home Loans Maryland

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

Admiral Mortgage
410-559-6491
25 S Charles St
Baltimore, MD
BASK Properties
717-830-2767
240 South Potomac St
Hagerstown, MD
Residential Home Loan Center
410-534-3290
2208 Eastern Ave
Baltimore, MD
Proficio Mortgage Ventures
303.448.2920
11219 Lockwood Dr.
Silver Spring, MD
AA Mortgage Gro
443-869-5682
8 W West St
Baltimore, MD
Family First Mortgage Group LLC
410-793-1192
3525 H Ellicott Mills Dr.
Ellicott City, MD
SunTrust Mortgage
410-308-6000
1966 Greenspring Dr
Timonium, MD
Allied Home Mortgage Capital Corporation
410-783-9407
516 N Charles St
Baltimore, MD
Baltimore HUD Homes
(443) 866-8699
1953 Laurel Oak Dr
Baltimore, MD
American Home Loans
410-230-0232
1 E Chase St
Baltimore, MD

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

Admiral Mortgage

410-559-6491
25 S Charles St
Baltimore, MD

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It pays to be aware of different avenues for auto loans and thereafter compare low rate on auto loans. This way you ensure a fair deal and can stay away from any fraud. Besides, you also get to know advantages and disadvantages of each category of auto loan when you compare low rate on auto loans.
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Related Local Event
Free Introductury Real Estate Investing Class
Dates: 6/30/2009 - 6/30/2009
Location: Investors United School of Real Estate
Baltimore, MD
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