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Your solution for larger home loans

When purchasing or refinancing a high-end home, the loan amount may require a different type of financing. A jumbo mortgage from MIDFLORIDA could be the right option.

Overview

Jumbo Mortgages Explained

If you're looking to buy a more expensive home, you may  need a special type of mortgage. That's where jumbo mortgages come in.  Jumbo mortgages allow you to borrow more than conventional loans, and a variety of rates and terms are available so you can select the loan that best meets your goals. 

Luxury home purchases
Flexible loan terms
Higher Loan Amounts

What is a jumbo mortgage?

A conventional mortgage is a loan that "conforms" to the loan limits set by the federal government. A jumbo mortgage is considered a non-conforming loan -  a loan that exceeds $484,350. That simply means the loan cannot be purchased or guaranteed by Fannie Mae or Freddie Mac.  

To see if a jumbo mortgage is the right fit for you, or to learn what your other options are, call (863) 688-8443 or toll free (855) 915-4663 or contact a local mortgage specialist today. Or start your mortgage application online.


Features

More about Jumbo Mortgages

  • Loan amounts over $484,350 
  • Purchase, refinance or construction
  • Low down payment options
  • No prepayment penalties

Things to Consider

  • These loans are considered riskier since they cannot be guaranteed by Fannie Mae or Freddie Mac and therefore, the interest rate may be higher.
  • Jumbo loans generally have stricter credit requirements.

Refinance

Thinking about refinancing?

Whether you want to lower your monthly payment, pay off your home sooner or get cash out of your home’s equity, see how refinancing your home can help you reach your goals. Talk to a mortgage specialist to find out more.