Austin Jumbo Home Loans
A jumbo loan is a mortgage loan that exceeds the conforming amount that can be backed by Fannie Mae or Freddie Mac, the federal government-sponsored entities that guarantee mortgages. The conforming loan limit in Austin, Texas is $417,000, so home buyers in Austin seeking mortgage loans higher than that amount can apply for a jumbo loan, also called a non-conforming loan. Jumbo loans are typically used for large, single-family homes, and they have a different underwriting process and come with a different set of guidelines. Jumbo loans are backed by private investors, rather than secured by a government agency.
Jumbo mortgages tend to be used for large, single-family homes. While the underwriting process for jumbo mortgage is similar to that of a conforming mortgage, the requirements differ slightly. Please feel free to check the current Austin jumbo loan rates on our website. If you are seeking a jumbo mortgage in Austin, Texas for your primary home or a vacation home, call Lone Star Financing. We specialize in jumbo loans and non-conforming mortgages in Austin, Texas. We understand the unique process behind purchasing a luxury home, so call Lone Star Financing today.
Jumbo Loan Advantages
- Over to $417,000 Loan Value
- Up to $1,000,000
- 80% LTV
- Subject to Investor Requirements
- Fixed Rate & Adjustable Rate Options
- Local Austin Customer Service
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About Austin Jumbo Home Loans
While a jumbo mortgage loan differs from a traditional, or conforming loan, there are also many similarities. For example, a jumbo loan can be either fixed rate or adjustable rate. Choosing the right loan type for you means considering several factors. When applying for an Austin, Texas jumbo mortgage, you’ll want to take into account the current interest rates for jumbo loans, the length of time you plan to keep the home, and your projected cash flow over the next several years. Buying a luxury home in Austin, Texas does not have to be a time-consuming or complicated process. The experts at Lone Star Financing are here to meet all your needs as you purchase your next home.