Jumbo Home Loans
Jumbo loans offer larger loan amounts than conforming loans. Fixed interest rates or adjustable, we have the flexibility to fit your sophisticated financial needs.
Save big with low rates for your large loan!
If you need to borrow over $647,200? You will need a Jumbo Loan!
Jumbo loans are used for a primary residence, second homes, and investment properties.
- Used for loan amounts greater than $647,200
- Purchase / Refinance (rate and term AND cash out)
- Fixed Rate & Adjustable-Rate options available
- 30 and 15 year terms available
With Jumbo Loans, You Can:
- Borrow up to 89.99% of the appraised value or purchase price (whichever is lower).
- Choose any Fixed Rate loan term between 10-30 years.
- Get flexible adjustable-rate terms of 3, 5, and 7 years.
- Loan amounts up to $2,500,000.
We understand your financial picture! Self-employed, commissioned, interest income, these are scenarios we deal with every day.
Jumbo Home Financing Rochester Michigan
Residents in Rochester MI and the rest of Michigan have some great Jumbo mortgage options now available up to 95% LTV. Likewise, the one major difference between Jumbo loans and standard conventional mortgages is the Jumbo or luxury home loan is provided only for high-cost properties over the conforming loan limit.
What’s more, most Michigan cities like Rochester and Rochester Hills describe “Jumbo mortgages” for any amount that exceeds $647,200.
Furthermore, when applying for Jumbo Loans in Rochester Michigan or other areas, it is important to search for reliable sources of information, and an experienced lender who can help you get the best deal. Most importantly, Advantage Lending Corp is one of those lenders.
Certainly, there is no doubt about the fact that the interest paid on 90 percent Jumbo mortgage or 95 percent luxury home loans is going to be slighter higher when compared to conventional loans.
However, securing the best rate on the mortgage can help you to save money. Additionally, a select few lenders are offering up to 95% financing ($2.25 mil) with no monthly mortgage insurance (PMI).