JUMBO
The Jumbo Loan option at Lincoln Capital Fundings provides financing for high-value properties that exceed conventional loan limits, offering competitive rates and flexible terms for qualified buyers. This loan is ideal for those seeking luxury homes or properties in high-cost areas, with tailored solutions for larger loan amounts.
Is a JUMBO Loan Right for You?
A Jumbo loan is a type of mortgage designed for financing properties that exceed the conventional loan limits set by the Federal Housing Finance Agency (FHFA). Typically used for high-value homes or properties in expensive markets, Jumbo loans provide the opportunity to borrow larger amounts but often require strong credit scores, higher income, and a larger down payment.
Who is an JUMBO Loan Right For?
Homebuyers Purchasing High-Value Properties – Those looking to buy homes that exceed conventional loan limits set by the FHFA.
Buyers in High-Cost Areas – Ideal for individuals purchasing in expensive real estate markets where property values are higher.
Borrowers with Strong Credit Profiles – Typically requires a high credit score to qualify, making it suitable for those with excellent credit.
Individuals with High Incomes – Generally for borrowers who have a steady, higher-than-average income to support larger loan payments.
Homebuyers Able to Afford a Large Down Payment – Jumbo loans often require a significant down payment, sometimes 10-20% or more.
Investors or Buyers Seeking Luxury or Unique Properties – Suitable for those interested in luxury homes, vacation properties, or investment real estate requiring higher loan amounts.
Borrowers with Low Debt-to-Income Ratios – Lenders typically require low DTI ratios, making it best for buyers with manageable existing debts.
Benefits of an JUMBO Loan
Higher Loan Limits – Jumbo loans allow borrowers to finance properties that exceed conventional loan limits, ideal for high-value or luxury homes.
Access to Expensive Markets – Enables home purchases in high-cost or competitive real estate markets.
Flexible Terms and Options – Offers both fixed and adjustable-rate options, allowing borrowers to choose terms that fit their financial plans.
Potential for Competitive Interest Rates – Despite the larger loan size, Jumbo loans can still offer competitive rates for qualified borrowers.
No Private Mortgage Insurance (PMI) Requirement – Often does not require PMI, even with lower down payments, which can save borrowers monthly costs.
Increased Purchase Power – Provides the financing flexibility needed for unique or custom properties that require more substantial loans.
Refinancing Opportunities – Can be used to refinance existing high-value mortgages for potentially better terms.
It’s important to note that Jumbo loans also come with some drawbacks, such as stricter qualification requirements, including higher credit scores and larger down payments. Additionally, Jumbo loans may have slightly higher interest rates compared to conventional loans, which can increase the overall cost of the loan.
Ultimately, whether a Jumbo loan is right for you depends on your financial situation, creditworthiness, and the type of property you wish to purchase.
At Lincoln Capital Funding we’ll carefully review your unique financial details to help identify the mortgage loan option that best suits your needs, ensuring a personalized and informed decision for your home financing.
What our clients say about us.
"Lincoln Capital Funding made buying my first home a breeze! The process was fast, and the team was incredibly helpful every step of the way. I couldn’t have asked for a better experience and highly recommend them for anyone looking for a hassle-free home loan!"
I approached Lincoln Capital Funding for a business loan, and they exceeded my expectations. The terms were flexible, and the entire process was transparent and straightforward. Thanks to them, I was able to expand my business seamlessly!
Lincoln Capital Funding helped me secure a car loan with great rates and minimal paperwork. Their customer service was outstanding, and they made sure I fully understood the terms before moving forward. I’ll definitely work with them again for future financial needs!
