Please ensure Javascript is enabled for purposes of website accessibility
NMLS# 1246268
Languages
EnglishSpanishPortuguese

Jumbo Mortgages

Royal Mortgage USA - Florida | Massachusetts | Michigan | Georgia | Texas | New Hampshire

Why a Jumbo Mortgage?

If you’re looking to buy an expensive home and need a large loan amount, a Jumbo Mortgage could be the right option for you. Jumbo Mortgages exceed the conforming limit on loans set by Fannie Mae and Freddie Mac.

What are Conforming Limits?

In most states, the conforming limit is around $453,100, but varies by location. Other areas that are specified to have a higher cost of living have a higher conforming limit of about $679,650. If you are looking to purchase a home and would like a loan amount greater than the conforming limit for your area, it’s likely that you will want to apply for a Jumbo Mortgage.

Will I Have Mortgage Insurance?

There is no private mortgage insurance (PMI) with a Jumbo Mortgage. To qualify, requirements for the borrower will be different compared to requirements of other loan types. Usually Jumbo Mortgages require a lower debt-to-income ratio, a higher credit score, and a more substantial down payment.

Send an Email

2021 © Royal Mortgage USA NMLS# 1246268 | We’re licensed to serve as Mortgage Broker and/or Mortgage Lender in Florida (MLD1334), Massachusetts (MC1246268), Michigan (FL0022419), and Georgia (1246268). We are also licensed to serve as a broker in Texas (NMLS ID: 2136534) and New Hampshire (24455-MB). NMLS Consumer Access / Legal Disclaimer – This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the state of New York will be accepted through this site.