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Tel: (651) 552-3681
Joe.Metzler@CambriaMortgage.com
Serving all of Minnesota, Iowa, 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.
Serving all of WI, MN, IA, ND and SD since 1991
Address
33 Wentworth Ave E, West St Paul, MN 55118
(651) 552-3681
Loans@Mortgage-Rochester.netLicense Info
Cambria Mortgage NMLS# 322798. Equal Housing Lender. We lend in the following states: Minnesota, Wisconsin, Iowa, Colorado, Florida, North Dakota, South Dakota, and Texas. This is not an offer to lend or to extend credit, nor is this a guaranty of loan approval or commitment to lend. The information here may not be up-to-date and may no longer be accurate. Products and interest rates are subject to change at any time due to changing market conditions. Actual rates available to you may vary based upon a number of factors. Consumers must independently verify the accuracy and currency of available mortgage programs. All loan approvals are subject to the borrower(s) satisfying all underwriting guidelines and loan approval conditions and providing an acceptable property, appraisal and title report. © 1998 - 2023, Joe Metzler, NMLS 274132
