4.25% 30 Year Fixed Rate
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Program Rate APR
30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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Get the Home You’ve Always Wanted With a Jumbo Mortgage

If you’re thinking of finally being able to buy the home of your dreams, a jumbo mortgage is the way to go. Rates are very low right now and they are continuing to go down. There’s no better time than right now to get a jumbo mortgage and get the home you’ve always wanted to have, but never thought you could afford.

A jumbo mortgage is a loan that is above conventional conforming loan limits. Fannie Mae and Freddie Mac are the two government entitles that set the standards for what loan amounts are conforming. As of 2010, the conforming limit is $417, 000. However, in Alaska, Hawaii, Guam, and U.S. Virgin Islands, the limit is $625,500. Jumbo loans do pose a higher risk for mortgage lenders. Because of the higher risk associated with jumbo loans, rates have traditionally been higher than rates on conforming home loans. However, in today’s market, jumbo mortgage rates are extremely low and continuing to drop. If you can prove you have satisfactory credit, income, and assets to support a large loan, you should have no problem getting approved for a jumbo mortgage.

Today, fixed mortgage rates on home loans will leave you with a low and stable monthly payment. Your interest rate will not be subject to the daily fluctuations of the housing market, and you can select programs such as the 10 year, 15 year, or 30 year payment plan. Fixed mortgage rates differ greatly from adjustable rate mortgages. While adjustable rate mortgages often start out lower than fixed rates, they can tend to change over time and leave you with a payment that’s far more than you can afford. On the other hand, fixed rates come with no surprises.

Today, people from all different income levels are interested in getting a higher loan amount at today’s low rates. There was a time when only people at higher income levels took out jumbo loans. However, nowadays, people from all walks of life are interested in getting bigger and more luxurious homes. Jumbo mortgages help you to afford the place that makes you really feel at home.