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Jumbo

Loans

Jumbo Loan Requirements for 2023

Now it’s easier than ever to buy or refinance a home between $726,200 and $10 million.

What is a Jumbo Loan?

A jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Generally, borrowers must undergo more rigorous credit requirements than those applying for a conventional loan.

When do Jumbo Loans Come into Play?

As of 2023, the Federal Housing Finance Agency raised the maximum conforming loan limit for single-family property to $726,200 and in high-cost areas $1,089,300. That means that depending on your area, loan amounts above $726,200 could be considered "Jumbo." 

Click the link below to see a map showing the 2023 maximum loan limits across the U.S.  

2023 Loan Limit Map

Arcstone Jumbo Loan Benefits

 

  • Fewer requirements and a simpler process (compared to previous jumbo loans) make it easier to get a big loan.

  • Purchase a home with a down payment greater than 10%.

  • Unlike many conventional loans, no mortgage insurance is required, even when your down payment is less than 20%.

  • Jumbo loans are available for primary homes, second homes, and investment properties, located on up to 20 acres.

  • We offer a 30-year fixed interest rate on our jumbo mortgages.

  • Jumbo loans are available for both one-and two-unit properties.

Jumbo Loan Requirements

 

  • Must have a credit score of 680 or above.

  • Must have a debt-to-income (DTI) ratio of 43 percent or less.

  • Must have reserves as much as 20% of the amount of the loan. Others might need to have as much as 18 months of principal, interest, taxes, and insurance on hand.

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NMLS     |     FAIR LENDER     |     FAIR HOUSING

Equal Opportunity Housing. Arcstone Financial Inc. is a California Corporation licensed by the Department of Real Estate, License #01468445, NMLS# 344236. Information subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees, and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/tradeline, documentation, Loan to Value, and occupancy. Ask to speak with a home loan consultant for a pre-qualification/pre-approval or an approval.

1917 Hillhurst Ave., Suite 203

Los Angeles, CA 90027
323-665-5000 | 800-830-5626

info@arcstoneinc.com

NMLS     |     FAIR LENDER     |     FAIR HOUSING

Equal Opportunity Housing. Arcstone Financial Inc. is a California Corporation licensed by the Department of Real Estate, License #01468445, NMLS# 344236. Information subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees, and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/tradeline, documentation, Loan to Value, and occupancy. Ask to speak with a home loan consultant for a pre-qualification/pre-approval or an approval.