• Tel: (651) 552-3681 
    Joe.Metzler@CambriaMortgage.com

    Serving all of Minnesota and Wisconsin
    NMLS 274132

  • Jumbo Loans

    Any home mortgage home loan in Rochester MN area, and all of Minnesota, Wisconsin, Iowa, North Dakota, or South Dakota that will be over the current conforming loan limit of $510,400 is considered a Jumbo Mortgage Loan. The loan limit may be higher in other states and states.

    This means that these loans sizes no longer fits the acceptable loan limits for a Fannie Mae or Freddie Mac conventional loan program, and are also known as non-conforming loans.

    This also means the guidelines change for these large loans.  The two biggest changes over a conforming loan is:

    • Jumbo loans have larger down payment requirements
    • Stricter credit, and credit score requirements.
    • Interest rates are different from non-jumbo loans.

    Cambria Mortgage is happy to offer multiple jumbo loan options, including all in one loan, or breaking it into two loans, a $510,000 first mortgage, and the remained in a 2nd mortgage.