Texas Jumbo Mortgage

Texas Jumbo Mortgage loan limit in Texas is $424,100, for a single-family home. This applies to every county in Texas. We specialize in mortgages above the conforming loan limit with as little as 5% down. For more info visit: https://texasjumbomortgagegur

Jumbo Mortgage in Texas

Jumbo Texas Mortgage,5% Down Jumbo Mortgage

A jumbo mortgage or loan refers to a plus-size home loan that exceeds the conforming loan limits which were imposed by Fannie Mae and Freddie Mac and are usually backed by private investors.In Texas, the usual conforming loan limit is $417,000.This mortgage is lower than usualloan rates for conforming loan amounts. Texas jumbo mortgage does not have Private Mortgage Insurance (PMI).

 

Requirement for a Jumbo Mortgage in Texas

Texas jumbo Mortgage comes with more requirements than the smaller, conforming mortgage.The following are the requirements:

  • Your credit score needs to be typically higher, i.e. A minimum of 680 middle credit score may be required.
  • These loans could possibly have a high credit quality
  • Check the loan-to-value requirement.
  • You will need a lower debt to income (DTI) ratio.
  • Interest rates for jumbo mortgage loans are usually alwaysAdjustable Rate Mortgage.
  • Loan borrowers now can put only 5% down for a Jumbo Mortgage with a 660 credit score.

A jumbo mortgage could help you buy a home or refinance an existing mortgage without managing multiple loans.This 5% down paymentoption applies to Jumbo purchase transactions as well as Jumbo refinance loans. This is the reason jumbo mortgage are the best.