A jumbo loan is a type of mortgage designed for financing homes that exceed the conforming loan limits They typically require stricter qualifications, such as a higher credit score, lower debt-to-income ratio, and significant financial reserves.

Larger down payments are often necessary—sometimes 10-30% of the home’s price.

A jumbo loan allows you to purchase property at a highest price point. If you are looking for a high-end property, a vacation property or your dream home, a jumbo loan may be able to help you access the financing you need.

Who Are Jumbo Loans Best Suited For?

Jumbo loans are the most appropriate for high-income earners who make at least $250,000 to $500,000 annually and have provable liquid assets. This is because these loans can come with higher interest rates compared to conventional loans

How To Qualify for a Jumbo Loan

Because of the large amount loaned, these mortgages have much stricter qualification requirements:

• A credit score of at least 700
• A favorable debt-to-income (DTI) ratio
• Complete income documentation in the form of recent paystubs, tax returns and other relevant income documents.
• 15 or 30 year amortization options

Get a Jumbo Loan With Avanti Lending

Purchase your dream home with a jumbo loan from Avanti Lending in Weston, Florida. With over 20 years of experience, we offer our clients personalized finance products tailored to their needs with a focus on exceptional service. Start your home mortgage with us by contacting us at (954) 440-6274.