Houston Jumbo Home Loans
Looking to buy a new home in Houston, TX? If the loan value (sales price minus down payment) is more than $417,000 then this is a non-conforming loan type called a Jumbo Loan. 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 Texas is any mortgage over $417,000, so home buyers in Houston seeking mortgage loans higher than this loan value can apply for a jumbo home 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 slightly altered set of guidelines.
Jumbo loans are unique in that they are backed by private investors instead of being backed by the federal government. If you are in the market for a new home in the Houston area and if they loan value will be more than $417,000 then please call our Houston branch. Keenan McGee and his team have been helping borrower’s with Jumbo loans for more than a decade. With in-house underwriting you can be sure that your loan will be processed quickly from application to close – that’s our promise!
- Over to $417,000 Loan Value
- Up to $1,000,000
- 80% LTV
- Subject to Investor Requirements
- Fixed Rate & Adjustable Rate Options
- Local Texas Customer Service
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More About Houston Jumbo Mortgages
Lone Star Financing has a mortgage office right here in Houston, TX and we specialize in jumbo mortgages and can help get your loan closed typically in less than 20 days. Low Rates, Low Fees, and Fast Closings is our motto and another reason why realtors love us.
One minor restriction with jumbo home mortgages in Houston is that they typically require a larger down payment to qualify and slightly different underwriting guidelines. A 20% down payment is required in most loan scenarios and W2’s to verify income for at least two (2) years. Here at Lone Star Financing of Houston, we have the knowledge and experience to walk you through the steps to get you approved for your next mortgage. Whether a VA Loan, FHA Loan or Jumbo Home Loan in Houston, our dedicated team is here to help. Apply online or call us today at 281-674-7372 for Jumbo Home Loans in Houston, TX!