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Virginia Mortgage Services provides jumbo
and super jumbo home loans
throughout Virginia Jumbo home loans are much larger than conventional
loans. To qualify as a jumbo loan, a loan must be $417,000 or more in
the continental United States. The limits on jumbo loan amounts are set
by the Federal National Mortgage Association (Fannie Mae) and the
Federal Home Loan Mortgage Corporation (Freddie Mac). Jumbo home loans
can't receive funds from these two agencies, so they usually carry a
higher interest rate than other home mortgage loans. Our
jumbo home loans can be applied to any fixed rate, ARM, or interest only loan
programs that we offer with ultra low interest rates. Simply contact
Virginia Mortgage Services for a jumbo home loan quote and we can
help match you with the perfect program for jumbo home loans.
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Loan amounts to $1,500,000
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Fixed and adjustable rate terms available
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Loan amounts up to $650,000
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Primary residence and second homes
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10-year, interest only options,
with 30-Year Fixed Rates
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Low 1.0% and 2.95% start rates
Jumbo home loans are
available to borrowers with owner occupied, second home and/or
investment properties. Funding is available for almost any loan amount
and loan type. What sets the lending limits apart is that the more you
wish to borrow, the more restrictive some of the lending conditions
become.
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Lending
Limits:
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Jumbo
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Super
Jumbo
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Special
Jumbo
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Single
Family Residence
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$650,000*
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$1,500,000**
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$4,000,000***
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Jumbo
Loans of $650,000* are
typical and usually there aren't
any extra pricing premiums added. Of course, if this is a second home,
it may be subject to a surcharge. If it is an investment property, the
loan-to-value ratio and the pricing will be different.
Jumbo
Loans to $1,000,000*are
usually typical with most loan products, but sometimes the loan-to-
value ratio becomes more conservative. For second homes and investment
properties, premiums are added to the pricing of the loan.
Jumbo
Loans to $1,500,000**are
generally typical, but become more restrictive with lower loan-to-value
ratios and pricing adjustments to the rate for loan size. Financing for
second homes becomes more difficult and financing for investment
properties is scarce.
Jumbo
Loans to $4,000,000***
are available primarily for
owner occupied
properties. The loan-to- value ratio is reduced and rates are a bit
higher. Not all programs are available at these lending limits.
Virginia Mortgage Services is your one stop
shop for jumbo home loans and
super jumbo home loans! Virginia Mortgage Services is a mortgage
broker offering hundreds of loan programs from 300 mortgage lenders. If
you have questions just ask! You may contact us for your jumbo home loan questions
by email, phone or by appointment at VMS.
Start now by filling out our secure online application for jumbo
home loans! Contact us toll free at
800.961.9121,Monday
through Friday from 9 a.m. to 5 p.m. Eastern time or via email
at anytime.
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