Super-Jumbo Mortgages

Super Jumbo LoansSuper-Jumbo Loans or Super-Jumbo Mortgages are those that exceed the conforming limits of Fannie-Mae and Freddie-Mac which are currently set at $417,000 – They also exceed the $1,000,000 limit of mortgages that are considered Jumbo Loans.

Once your loan amount is over $1,000,000 you are said to have a Super-Jumbo Mortgage or Super-Jumbo Loan. Whereas you can obtain a conforming loan/mortgage with 5% down and a jumbo loan with just twenty percent down, once you exceed the $2,000,000 mortgage amount you can expect to have to put more down on your mortgage.

The higher the loan amount the more overall inherent risk to the investor. One way to reduce the risk and still make Super-Jumbo Loans or Super-Jumbo Mortgages is to reduce the maximum allowable loan to value which in turn means a higher-down payment.

The other way that investors can offset risk and still make Super-Jumbo Loans is to have a higher interest-rate. Thus, as your loan amount goes up you can expect to pay a higher-interest-rate than you would on a Conforming Mortgage or Jumbo Loan.

When applying for a Super-Jumbo Loan remember that you will have to have a higher-credit score, a lower debt to income ratio, put more money into a down-payment, and have more money in liquid reserves after closing. In most instances the investor will also require two appraisals.

At Flagstone Financial we are experts in Super-Jumbo loans. We understand how to package the loan and navigate the process to best insure your loan is approved.

In addition, to our own funds we have excellent relationships with wealth-management division of major banks, wholesale lenders that specialize in super- jumbo mortgage products, and local/regional banks.

In today’s marketplace you want to work with a lender that has direct access to multiple sources of super-jumbo capital in order to get the best loan for your needs.

Call us today for all your Super-Jumbo Mortgage needs!

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