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Jumbo Loan Jumbo Mortgage Florida Rates

Florida Jumbo Mortgage Refinance Rates, Jumbo 30 Year Fixed Rates

What is a Florida Jumbo Mortgage Refinance Loan?

A  jumbo mortgage refinance loan provides financing for loan amounts higher than the maximum conforming loan limits set by Fannie Mae and Freddie Mac. If a loan amount is higher than $453,100 then neither of the two government-sponsored entities will purchase that loan. Typically, both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other lenders, freeing up liquidity to lend more mortgages.  A conforming first mortgage along with a home equity line of credit can provide greater payment flexibility. Both are available for purchase and refinance loans (including cash-out refinances).

Jumbo Loan Refinance Rates

Most of the time, jumbo mortgage refinance rates are somewhat higher than rates on comparable Fannie & Freddie insured loans. That’s because Fannie Mae & Freddie Mac guarantee their loans for lenders, which helps keep the mortgage rates low. Jumbo mortgage loans don’t have that kind of backing, so lenders assume all the risk themselves.

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Jumbo Home Loan Mortgage Refinance Options

What are the Jumbo Refinance Loan Requirements?

  • 680 minimum credit score.
  • 4 months reserves (cannot be gifted funds).
  • Florida properties only on condos, single-family homes, and townhomes.
  • 4 to 5 year waiting period for prior foreclosures, short sales, and bankruptcies.
  • 43% maximum DTI.

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Why Should You Choose Us For Your Florida Jumbo Mortgage?

Are You Concerned You May Not Qualify for a Home Loan Because?

  • Debt to Income Ratio is too High.
  • Credit Scores are a little Too Low, not to worry we can do a Rapid Rescore.
  • Prior Foreclosures, Short Sales or Bankruptcies.
  • Prior Mortgage Late Payments.
  • Don’t have Enough Reserves.

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Not to worry our Loan Officers overcome these problems all the time, We know the Florida 10% Down Payment Jumbo Mortgage Loan Business and can Close Easy, Complex and Tough Deals.

We do this by utilizing our “Outside The Box Thinking” to get you pre-qualified for the maximum loan amount possible while keeping your 10% Down Payment Jumbo Mortgage Loan down payment and closing costs as low as possible.

Don’t just take our word for it, check out our prior client reviews!

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