Jumbo Loans
Mortgages for loan amounts above the conforming loan limits set by the Federal Housing Finance Agency.
Jumbo loans finance higher-priced homes that exceed the conforming loan limits set each year by the Federal Housing Finance Agency. Because they aren't eligible to be sold to Fannie Mae or Freddie Mac, lenders hold them on their own balance sheets or sell them to private investors, which means qualifying standards tend to be tighter.
Jumbo programs are used for higher-end primary residences, second homes, and investment properties. In markets like the Texas Hill Country and Austin, jumbo financing comes into play more often than buyers expect, particularly for acreage homes, custom builds, and properties in growing markets.
Expect deeper documentation: stronger credit profiles, larger cash reserves, and a careful review of income and assets. The trade-off is access to financing for properties that conventional loans can't cover.
Specific terms vary by lender, program, and borrower profile. All loans are subject to credit, income, property, and underwriting approval. Not a commitment to lend.
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Jumbo Loans are a regular fit in these Central Texas markets.
Mortgages that follow Fannie Mae and Freddie Mac guidelines, with flexible terms for buyers with solid credit and stable income.
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Non-qualified mortgages designed for borrowers whose situations don't fit the standard conventional or government underwriting box.
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Investor financing where qualification is based on the property's rental income covering the debt service, not the borrower's personal income.
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