Jumbo Loans

Jumbo Loans:

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac. As a result these loans cannot be purchased or generalized by these institutions.  The limits are currently $417,000.00 but certian counties can go as high as $625,500 anything higher than this is going to be put into the jumbo loan category. Rates on jumbo loans are typically a little higher than conforming loans. Jumbo Loans are typically used to buy or refinance more expensive homes and high-end custom construction homes. Jumbo Loans typically have higher interest rates because they are higher risk loans to the lender since high end real estate is subject to the highs and lows of the economy.

Jumbo Loans are secured by institutions with higher credit risk and typically tends to translate to higher interest rates. A jumbo can have an adjustable or a fixed interest rate depending on what the borrower prefers.  It is vital borrowers contact professional support when going this route as different counties have different loan limits and mortgage qualification requirements.
 


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TESTIMONIALS

"Working with Scott has been a truly satisfying experience. He went above and beyond to get us to settle on my refinance and cleared all those hurdles that were in our way. Thank you so much."
Christa Bahre


"Brian, I want to thank you for the wonderful gift! It is so useful and I appreciate it so much. Most importantly, I want to thank you and your staff for the effort you put forth to see that my re-financing went so smoothly. It has given me great peace-of-mind to know that I don';t have to worry about the interest rate going up on my mortgage. Scott was wonderful to work with, so pleasant all the time and eager to answer all my silly questions, not to mention how hard he must have worked to get me the best deal. I would certainly recommend Serenity to anyone interested. Hoping you and your staff have great success in all your endeavors and I';m sure you will."
Marilyn


"Brian and Serenity were great to work with. They not only delivered what they promised, but at the end, our rate was actually lower than they originally quoted. I highly recommend Serenity First Financial and Brian Oates".
Angie J.


"I am SO thrilled about how much money we are saving (nearly $400/month) after refinancing that I';m passing on my neighbor and loan officer's information! Steve is a great guy and he worked with us over the last few months- constantly monitoring home prices in the neighborhood and interest rates to get us the best possible situation. I couldn';t be more pleased!"
Kristin N.


"Thank you so much for all your help and little clip below. Sorry for delay reply. This is a very cute way of letting us know that the loan is clear to close. It is very cleverly expressed. Please note, we are very happy with all your service and promptness of your reply. Thank you so much for keeping us informed on every step of the way...you are such an ASSET to Serenity First Financial LLC. and I am sure your company recognizes that!
Best regards!"
Mahendra and Rameela Patel

"I couldn';t have asked for better service than what I received from your organization. I am so relieved to be free of the ARM mortgage. Scott, you were with me every step of the way, any time I had questions; I really appreciate you."
Marilyn Winstead

 

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