Jumbo Home Loans can make purchasing a high-end home possible.

When a loan amount reaches a certain point, $766,500 for 2024 in Texas, it becomes too large for Fannie Mae, Freddie Mac, VA, or FHA to handle.

While Jumbo Loans are very similar to Conventional Loans in Term (15-30 years) & Structure (with a Fixed or Adjustable Rate), they do have more stringent underwriting requirements:

Credit Score – Must be 680+

Down Payment – 10% minimum, 20%+ for the best Interest Rates

Appraisals – Loans over $2,00,000 typically require two Appraisal Reports.

Reserves – Jumbo Loans require at least 6 months of the future Loan Payment in liquid reserves post Closing.

Barefoot Mortgage has our same Low Interest Rates on a wide variety of Jumbo Loan products with numerous creative ways to get you qualified to buy your dream home.

Remember – Barefoot does NOT charge Origination Fees and can finance up to $5,000,000 with as little as 10% down.

Have questions? Give us a call! Your mortgage concierge would be happy to answer all of your questions.