Jumbo Home Loans
Loans over $417,000...
If you need a jumbo loan, you've come to the right place.
Our rates are among the BEST in the industry.
Our experience and professionalism - hard to beat.

Jumbo or non-conforming loans are any loans that exceed the conforming loan limits listed below.

  • 1 unit - $417,000
  • 2 unit - $533,850
  • 3 unit - $645,300
  • 4 unit - $801,950

Jumbo loans are available under three loan programs - Conventional Jumbo Loans, VA Jumbo Loans and Super Jumbo Loans. This page of our website deals with our Conventional Jumbo Loan products.

Conventional Jumbo Loans
30 year and 15 year fixed rate conventional jumbo loans are available up to $2,000,000 Both purchase or rate and term refinancing are acceptable. A variety of ARM products are also available. For cash-out home equity loans see Home Equity Loans.

Underwriting guidelines for our conventional jumbo loans are generally more strict than on conforming loans. They require higher credit scores, higher down payments depending on the size of the loan and require you to have more reserves after closing than you would normally see on a conforming loan or on a VA Jumbo Loan.

Our three most common Jumbo loan programs are the Jumbo Gold, the Jumbo Silver and the Jumbo Blue. Here are the Pros and Cons for these programs.

Conventional Jumbo Programs
Jumbo Gold Jumbo Blue
Best for Loans > 80% LTV
Best 30 year Fixed Rates
Max Loan = $750,000
Max DTI = 50%
Purchase Loans
Rate/Term Refinance
Best for Loans > $1,500,000
Best for Loans > 45% DTI
Best for Loans <= 80% LTV
Purchase Loans
Rate/Term Refinance
Home Equity Refinance
Max Loan = $2,000,000

We also have several other loan programs available for investment properties and unusual jumbo loan types. Contact us for details and a Good Faith Estimate.

VA Jumbo Loans
Eligible veterans can't afford not to look at our VA Jumbo Loans available up to $1,500,000, though, due to pricing, the practical maximum is $999,999. A down payment equal to 25% of the excess over $417,000 is required for veterans with full VA entitlement. Rates are about 1% lower and down payment requirements are much lower than on our conventional jumbo loans. See our VA Jumbo Loan guidelines for more details.

Super Jumbo Loans
Loans from $2,000,000 to $30,000,000 are available on a case by case basis for well qualified borrowers. Loan to values up to 80%. Reserves are the key to these loans. Contact us for details and a Good Faith Estimate.

Jumbo "Gold" Guidelines

JUMBO "Gold" Loans
Full Documentation
Purpose Occupy Units Max.
 LTV/CLTV
Max.
Loan
Amount
Min.
Credit
Scores
Purchase
or
Rate/Term
Refinance
Primary
Residence (1)
1-2 90%/90% $650,000 680
80%/90% $1,000,000 700
Second/
Vacation
Home (2)
1 90%/90% $650,000 680
80%/90% $750,000 720
70%/70% $1,500,000 700
Cash-Out
Refinance (3)
Second/
Vacation
Home (2)
1 80%/90% $500,000 680
75%/90% $650,0000 700

.

  • Appraisals - One full appraisal with interior photos
  • Assumable - No.
  • Automated Underwriting - FNMA DU approval required.
  • Bankruptcy or Foreclosure - None in last 7 years.
  • Credit Scores - Credit scores below 780 may require a price adjustment to the points depending on the loan to value.

    The following adjustments are to the points. As a rule of thumb, 0.375% in points equals about 0.125% in the rate. So if you have to add 0.75% pt. your rate will go up about 0.25%, i.e., 7.0% to 7.25%..
Credit Score Adjustments to Points
LTV's
(Loan to Value)
Credit Scores
(Lowest middle score of 3 or lower score of 2)
680 - 699 700 -779 >780
<=70 0% -0.125% -0.125%
70.01 - 80 0% -0.125% -0.125%
80.01 - 90 0% -0.125% -0.125%
Adjustments are for fixed rate purchase or rate/term refinance loans.

  • DTI - Total debt to income ratios up to 45 to 50%. See chart above.
  • Eligible Property Types - 1-2 unit homes, townhouse, approved Condos and PUDs.
  • Loan Types - 15 & 30 year fixed rate loans. Interest only available on 30 year fixed rate loans.
  • Maximum Loan Amount - $750,000 under our standard conventional jumbo loan program.
  • Mortgage Insurance - Loans greater than 80% LTV require mortgage insurance. We normally use a 2nd lien to reduce the 1st lien to 80% LTV or less to eliminate the need for mortgage insurance. If mortgage insurance is required, additional restrictions from the mortgage insurance company may be required.
  • Occupancy - Primary residence - MUST occupy the home within 60 days. Second Homes/Vacation homes - personally occupied at least 2 weeks/year and never rented.
  • Residency - 1-2 family primary residences and 1 unit second homes.
  • Reserves - Determined by  FNMA DU automated underwriting.
  • Seller Concessions.

    Property Type LTV/CLTV Contribution
    Primary
    Residence
    >75% 6%
    <=75% 9%
  • Temporary Buydowns - Not allowed.
Note:
Guidelines subject to change without notice. Additional guidelines and restrictions may apply. Submit your loan application for approval.

Jumbo "Blue" Guidelines

JUMBO "Blue" Loans
Full Documentation
Purpose Occupy Units Max.
 LTV/CLTV
Max.
Loan
Amount
Min.
Credit
Scores
Purchase
or
Rate/Term
Refinance
Primary
Residence
1-2 90%/90% $650,000 700
80%/90% $1,000,000 700
75%/85% $1,500,000 700
70%/85% $2,000,000 700
Second/
Vacation
Home
1 80%/80% $650,000 700
75%/80% $1,000,000 700
70%/80% $1,500,000 700
65%/80% $2,000,000 700
Cash-Out
Refinance
Primary
Residence
See our Home Equity Loan page

.

  • Appraisals - Two appraisals are required on loans over $1,000,000
  • Assumable - No.
  • Automated Underwriting - Loans up to $650,000 are eligible for automated underwriting approvals. Loans greater than $650,000 require manual underwriting.
  • Bankruptcy or Foreclosure - If the cause of the bankruptcy or foreclosure was caused by:

    Extenuating Circumstances
    Minimum of 2 years from the discharge date if evidence can be provided to show that financial mismanagement was not the cause. No adverse credit is allowed since the bankruptcy or foreclosure.

    Financial Mismanagement
    Bankruptcies or foreclosures caused by financial mismanagement require a minimum of 4 years from the discharge date with no adverse credit. Minimum credit scores is 680.

    NOTE: After a bankruptcy be sure to check  your credit report for errors  and correct inaccurate information. This can make a big difference in your credit scores and loan approval.

    If you need help repairing your credit, contact us and we will refer you to HTDI Financial, a credit repair agency we work with.

  • Credit Scores - Credit scores below 780 may require a price adjustment to the points depending on the loan to value.

    The following adjustments are to the points. As a rule of thumb, 0.375% in points equals about 0.125% in the rate. So if you have to add 0.75% pt. your rate will go up about 0.25%, i.e., 7.0% to 7.25%..
Credit Score Adjustments to Points
LTV's
(Loan to Value)
Credit Scores
(Lowest middle score of 3 or lower score of 2)
620 - 660 661 - 719 720 -779 >780
<= 75% 0.25% 0% -0.125% -0.25%
75.01 - 80 1% 0.75% 0.25% 0%
80.01 - 85 1.75% 1.50% 1.125% 0.25%
85.01 - 90 1.75% 1.50% 1.125% 0.75%
Adjustments are for fixed rate purchase or rate/term refinance loans.

  • DTI - Debt to income ratios up to 45% using manual underwriting. Automated underwriting has no DTI restrictions.
  • Eligible Property Types - 1-2 unit homes, townhouse, approved Condos and PUDs.
  • Loan Types - 15 & 30 year fixed rate loans and 1 yr, 3/1, 5/1, 7/1 & 10/1 ARM loans are available. Interest only available on 30 year fixed rate loans.
  • Maximum Loan Amount - $2,000,000 under our standard conventional jumbo loan program. Super Jumbo loans are available on a case by case basis up to $30,000,000..
  • Mortgage Insurance - Loans greater than 80% LTV require mortgage insurance. We normally use a 2nd lien to reduce the 1st lien to 80% LTV or less to eliminate the need for mortgage insurance.
  • Occupancy - Primary residence - MUST occupy the home within 60 days.
  • Residency - 1-2 family primary residences and 1 unit second homes.
  • Reserves - Jumbo loans require you to have the following minimum cash reserves after closing.
    • Up to $650,000 - 3 months PITI
    • $650,001 to $1,000,000 - 6 months PITI
    • $1,000,001 to $1,500,000 - 9 months PITI
    • $1,500,001 to $2,000,000 - 12 months PITI
  • Seller Concessions - The seller or other interest parties can contribute up to 6% of the sales price towards your closing costs and prepaids.
  • Temporary Buydowns - Not allowed.
Note:
Guidelines subject to change without notice. Additional guidelines and restrictions may apply. Submit your loan application for approval.
Jumbo "Gold" Loan Rates
Rates based on $650,000 Loans
30 Year Fixed Loans
30 day lock.
15 Year Fixed Loans
30 day lock.
Rate Points APR Rate Points APR
7.500% 0.821% 7.641% 7.000% 1.589% 7.346%
7.625% 0.527% 7.737% 7.125% 1.367% 7.436%
7.750% 0.256% 7.835% 7.250% 1.159% 7.528%
Notes:
Maximum Loan Amount = $1,500,000.
Maximum LTV = 90%.
Maximum DTI = 45%.
Second Homes add 0.25% Pt.
Credit Scores:
See Credit Score Adjustments below..


No Investment Properties
Credit Score Adjustments to Points
LTV's
(Loan to Value)
Credit Scores
(Lowest middle score of 3 or lower score of 2)
680 - 699 700 -779 >780
<=70 0% -0.125% -0.25%
70.01 - 80 0.25% -0.125% -0.25%
80.01 - 90 0.375% -0.125% -0.25%
Adjustments are for fixed rate purchase or rate/term refinance loans.

Additional adjustments & restrictions may apply <> Contact us for a Good Faith Estimate
Jumbo "Blue" Loan Rates
Rates based on $650,000 Loans
30 Year Fixed Loans
30 day lock.
15 Year Fixed Loans
30 day lock.
Rate Points APR Rate Points APR
8.375% 1.295% 8.581% 7.250% 0.705% 7.453%
8.500% 1.119% 8.688% 7.375% 0.508% 7.547%
8.625% 0.944% 8.795% 7.500% 0.303% 7.640%
Notes:
Maximum Loan Amount = $2,000,000
Maximum LTV = 90%
LTV 80.01 to 90% add 1.50% Pt.
Loans $1.5MM to $2.0MM add 0.50% Pt.
Second homes add 0.125 Pt. & Max LTV = 80%
Credit Scores:
See Credit Score Adjustments below..


No Investment Properties.
Credit Score Adjustments to Points
LTV's
(Loan to Value)
Credit Scores
(Lowest middle score of 3 or lower score of 2)
620 - 660 661 - 719 720 -779 >780
<= 75% 0.25% 0% -0.125% -0.25%
75.01 - 80 1% 0.75% 0.25% 0%
80.01 - 85 1.75% 1.50% 1.125% 0.25%
85.01 - 90 1.75% 1.50% 1.125% 0.75%

Additional adjustments & restrictions may apply <> Contact us for a Good Faith Estimate
VA Jumbo Purchase Loan Rates
Rates based on $650,000 Loans
30 Year Fixed Loans
30 day lock.
 
Rate Points APR Rate Points APR
5.875% 0.559% 5.972%
6.000% 0.090% 6.054%
6.125% -0.362% 6.137%
6.250% -0.755% 6.226%
Notes:
Maximum VA JUMBO loan limit is $1,500,000.
Down payment Required.
30 yr fixed rate only - Other restrictions apply.
Loan amount > $1,000,000 = add 5.0 pts.
Credit Scores:
601 - 660 = add 0.25 pt.
581 - 600 = add 0.50 pt.
<581 = add 1.0 pts.
Loan amount > $700,000 = minimum 620
Loan amount > $1,000,000 = minimum 700
Additional adjustments & restrictions may apply <> Contact us for a Good Faith Estimate

It's real easy to pre-qualify. A Good Faith Estimate will be emailed to you. Just click here to get started.

Lock your rate at 888-623-7083 or in Austin call 259-7788...
Rates are subject to change without notice until locked in.
Rates on this Page Last Updated:
08/28/2008 5:01 PM

Pre-Approval - Loan Application

Purchase Loan Application - This is a complete loan application and purchase questionnaire. It should take from 15 to 30 minutes to complete.
  • Click here for a general list of information needed to complete your application.
  • After reviewing your application and credit report, your loan will be submitted for Automated Underwriting (if available at your loan amount) prior to calling you to discuss your application unless additional information is needed from you.
  • The results will be emailed to you with a GFE for your review. Rates are subject to change until locked in. Please call our office to lock your rate.
  • Your complete loan application and disclosure forms will be overnighted to you for your review and signatures, along with copies for your records. A written list of the required documents needed and a return overnight envelope will also be included for you to return the documents to us.
  • The only upfront costs to you are the credit report/AUS fee($39) & the appraisal fee($350+). These fees are listed on your Good Faith Estimate. Click here for more details on the loan process.
Note: If for some reason your loan cannot be approved through our Automated Underwriting Systems and traditional underwriting is required, some additional costs may be required and you will be advised in advance. More details on "Traditional Underwriting" can be found here.

Pre-Qualify

Pre-Qualify

  • This is a short form that only takes a few minutes to complete.
  • It will give us the info we need to pre-qualify you according to your income, debts and funds available for down payment and closing costs.
  • The results will be emailed to you with a GFE for your review.
  • The Pre-Qualify form is primarily designed for borrowers with good credit since NO credit report will be pulled with this prequalification.

Email or call us if you need additional information.

Quick Links
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3-day Right of Recession

Required on Refinance loans only.
Texas homestead law provides for any borrower refinancing their homestead in Texas to have a grace period of 3 business days from the closing date to re-consider the terms of the refinance before the loan becomes final. Details

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