Mortgage Miracles Happen is a mortgage broker for Jumbo mortgage loans in Alaska, Arizona, Colorado, Florida, Idaho, Texas, Utah, Wyoming. As a mortgage broker, we have many different options for jumbo home loans from many different mortgage lenders. This gives our clients more options for getting better terms.
What is a jumbo mortgage loan?
Jumbo Mortgage Loans are Mortgage Loans that do not meet the conforming loan limits, *Limits are higher for multi-family properties than single-family homes and vary by county.
See the conforming loan limit guideline per county to determine the loan limit in your county.
Because such a large amount is being borrowed lenders often charge slightly higher interest rates for these loans. That conforming loan limit varies based on your location and is higher in areas of the country with higher housing prices.
Apply online here for a Mortgage Loan
Jumbo Loan Options
We offer the following loan options:
- Purchase Loans
- Refinancing
- Second homes or vacation properties
- Investment property loans
Property Types
- SFR,
- Duplex-4-Plex
- Townhouse (townhomes),
- Condo’s
- High Rise Condo’s
- Condo Hotels Loans
- Rural properties
- Properties with five or more units require commercial financing.
Jumbo Product Details
- Purchase & Refinance Mortgage Loans
- Cash-Out Refinance Loans (Based on
- up to 90% loan to value first position purchases & refinances (720+ Fico)
- Fixed-rate option available on first or second position home equity lines of credit
Jumbo Loan Terms
- 15 YR Fixed Loans
- 30 YR Fixed Loans
- 40 YR Fixed Loans
- ARMs – 3/1, 5/1, 7/1 ARM’s
- Interest-only Loans (40 YR Interest-Only Jumbo Loans)
Loan Amounts
- Jumbo Loans – No Maximum Loan Amounts– 1st mortgages only
- Cash-out up to 3 Million USD
- LTV, -up to 95% LTV – A sliding scale based on Loan Amounts.
- Credit Scores as low as 600 – (Note: LTV is limited based on Fico Score)
Non-QM Jumbo Loans / Alternative Document Jumbo Loans
- Bank Statement Loans
- DSCR Mortgage Loans
- No-Doc Jumbo Loans
- No Income Document Jumbo Loans
- DTI (Debt to Income ratio) for fixed programs – Can go up to 55%
Call to discuss your scenario
As a mortgage broker, we work with many different mortgage lenders. This gives us flexibility pending each borrower’s needs.