Looking to purchase a large or expensive home? A standard mortgage loan might not cut it. Instead, explore using a Jumbo loan.
You can refinance or purchase homes that are over the conventional limit for mortgage, which is generally considered anything over $417,000, using a Jumbo mortgage. If you live in an area with higher costs overall, that limit can reach a higher amount, such as $600,000 or more. Be sure to check with a Midwest Equity Mortgage, LLC expert to determine the limits for a Jumbo loan in your area.
Because Jumbo loans are larger than regular mortgages, you might have a higher interest rate and pay more over the life of the loan.
If you have a luxury home you'd like to refinance, or would like to purchase a home and think you'll need a Jumbo mortgage, contact a mortgage expert
at Midwest Equity Mortgage, LLC today.Apply online now!