Jumbo mortgages are a type of non-conforming loan available for borrowers when they are looking at homes that will require a mortgage exceeding $417,00 for a single-family home. There are some exceptions to this: Hawaii and Alaska have higher limits, as do high-priced markets that have been federally designated as such. In addition, multi-unit properties may also have different limits.
Jumbo loans will have different underwriting requirements which can vary by lender. Qualifications for a jumbo loan can sometimes be more stringent than a conforming loan.
Maple Tree Funding’s loan originators will work closely with you to ensure you understand all the specific costs and requirements, as well as the various lender options available. As we work with dozens of banks and lending institutions, we have the ability to examine a wide variety of mortgage options, many of which are not available to the general public. This ensures that you get the best rate and the best program available to you, based on your goals, financial data and other personal information.
If you are looking for a jumbo mortgage in New York, contact us. We are licensed to originate loans throughout the state, including the Capital Region of Albany/Clifton Park, Saratoga Springs, Glens Falls and the Adirondacks. Maple Tree Funding understands your dream of owning a home and can help make it a reality.
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