At Fairway Independent Mortgage Corporation, we’re here to help you understand the facts about Jumbo Loans.
Don’t leave your dream home up to chance! According to the Denver Metro Association of Realtors May 2017, Market Trends Report, the average selling price for a single family home is $487,974. Analysts predict that the average selling price will break $500K by this summer. So what does that mean for you? If you’re looking to purchase a home within the Denver Metro Area, you may want to consider a Jumbo loan.
What is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the amount established by Government sponsored enterprises (GSE) like Fannie Mae or Freddie Mac. There are multiple factors that go into determine this amount, such as the House Price Index and therefore varies county by county. However, please keep in mind that the average national limit is 424k. Average, mediocre is what you can get in Denver for $487,974; what if your aspirations are higher than the median, a jumbo loan might be your only entryway into the type of home you desire.
- Our customers are diverse and so are our products.
- Here are what some of our jumbo loan products have to offer:
- As little as 5% down
- Can be used to purchase investment properties
- Foreclosures, bankruptcies and short sales aren’t automatic disqualifications
- Qualifying credit score starting at 620
- Competitive rates
“From start to finish, Fairway was wonderful to work with! And the proof is in the results as I got the loan I needed and at the rate I was hoping for! Great company!” Brenda L
See for yourself by contacting us today 303-214-9071 or fill out the form.