Purchase · Refinance
Jumbo Loans
Jumbo loans finance amounts above the conforming loan limits set for Fannie Mae and Freddie Mac, for higher-priced homes and high-cost areas.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.
How Daniel explains it
With jumbo loans, Daniel focuses on structure. Larger loans come with closer review of income, assets and reserves, so the way you document them matters.
Cornerstone underwrites jumbo loans in-house, and he'll walk you through fixed and adjustable options and what underwriting will want to see before you make an offer.
How a jumbo loan works
- Loan amounts exceed conforming limits, which vary by county.
- Fixed-rate and adjustable-rate structures may be available.
- Underwriting is done in-house at Cornerstone First Mortgage.
- Reserve requirements are typically higher than for conforming loans.
When a jumbo loan may fit
- You're buying or refinancing a higher-priced home.
- You can document strong income, assets and reserves.
- You want a single loan rather than splitting financing across two.
What to know about a jumbo loan
- Credit, down payment and reserve requirements are typically stricter than for conforming loans.
- Documentation is reviewed closely, so Daniel will help you get it organized early.
- Requirements vary by program and loan amount.
Straight answers
Jumbo Loans questions, answered
What makes a loan a jumbo loan?
A loan is considered jumbo when the amount is above the conforming loan limit for the county where the home is located. Those limits are set each year and vary by area.
Are jumbo loans harder to get?
They usually come with stricter credit, down payment and reserve requirements, and a closer look at your documentation. Daniel will tell you up front what underwriting will need.
Eligibility depends on borrower, property, and program requirements. Interest rates, products, and loan terms are subject to change without notice.
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A fixed-rate mortgage keeps the same interest rate for the life of the loan, so the principal and interest part of your payment never changes.
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Adjustable-Rate Mortgage (ARM)
An adjustable-rate mortgage starts with a rate that's fixed for an initial period, then adjusts on a set schedule based on a market index.
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Non-QM Loans
Non-QM (non-qualified mortgage) loans use alternative ways to document income and assets, for borrowers whose finances don't fit standard agency guidelines.
How it worksReady when you are
Your mortgage starts here.
Ready to take the next step? Start your secure application. Not sure which program fits? Contact Daniel's team and he'll walk through your options in plain English.
Your secure application is with Cornerstone First Mortgage, LLC (NMLS #173855). Starting an application is not a loan approval or a commitment to lend.