Planet Home Lending's Jumbo home loan may be right for you. Our Jumbo Loan professionals deliver concierge service. Call 888-966-9044 or sign up for a consultation now!
Jumbo loans are mortgages for $766,550 to $3 million. You can use a Jumbo mortgage to buy or refinance a main home, second home, vacation home, or investment property.
Planet Home Lending's Jumbo Mortgage delivers competitive pricing with concierge service:
Step 1: Decide how much to put down
Our Jumbo Loan Professional discusses your homebuying needs. Choose the terms that work for you, like using gift funds to supplement your down payment, or avoiding private mortgage insurance.
Step 2: Gain Pre-Approval Power
Pre-Approval provides certainty you're confirmed to purchase. Know how much you can borrow and when you can close. Shop for your dream home with confidence.
Step 3: Find Your Perfect Home
Borrow $766,550 to $3 million, supplemented by your down payment, and seller contributions.
Our Jumbo Loan Professional stays with you throughout the journey, on call to answer your questions and speed the process.
Call 888-966-9044 or sign up to start now!
Planet Home Lending's Jumbo refinance mortgage rates deliver competitive pricing with concierge service.
What's your refinancing goal?
Our Jumbo Loan Professional discusses your refinancing needs, then stays with you throughout the journey, on call to answer your questions, and speed the process.
Call 888-966-9044 or sign up to start now!
Our borrowers have lots of jumbo loans to choose from. Along with the standard jumbo home loan, there are specialty jumbos for first-time homebuyers, self-employed people, business owners, foreign buyers, and real estate investors. Call us any time and we can give you a real home loan quote based on your specific situation.
To underwrite a jumbo home loan, we'll look at your income, credit, the assets you own, your down payment, and how you plan to use the property. The rules for things like down payments and credit scores change based on whether your jumbo home loan is for a main home, vacation home, or investment property. Call us any time and we can give you a real home loan quote based on your specific situation.
No matter which type of home loan you get, jumbo versus Fannie Mae versus Freddie Mac versus FHA, it's important to know you're able to repay the mortgage. With a jumbo home loan, part of that ability to repay is making sure you have enough money saved to weather a financial storm. Most people will need enough savings to cover between 6 and 24 months of mortgage payments. But every borrower is unique so check with us to find out how this rule-of-thumb applies in your case.
You can get a jumbo loan with as little as 10% down and half of that can come from a gift from family or close friends.
In general, the more you want to borrow, the bigger your down payment needs to be. The down payment you have to make for a $1 million jumbo home loan will be smaller than the down payment you have to make for a $3 million jumbo home loan. To make the smallest possible down payment, it helps to have a good credit score and a reasonable amount of debt compared to income. Call us any time and we can give you a real home loan quote based on your specific situation.
You can borrow a lot more money using a jumbo home loan, up to $3 million, compared to a conventional mortgage. Another advantage is you may be able to put down as little as 10% down and not have to buy mortgage insurance. That may save you money. Call us any time and we can give you a real home loan quote based on your specific situation.
What are the benefits of jumbo home loans versus government-insured home loans?
You can borrow a lot more money using a jumbo home loan, up to $3 million, than you can using a government-insured mortgage. Another advantage is you may be able to put down as little as 10% down and not have to buy mortgage insurance. That may save you money. Call us any time and we can give you a real home loan quote based on your specific situation.
The answer depends on your credit score and down payment. You can expect jumbo interest rates to float around .125% to .25% higher than conventional home loan interest rates. Call us any time and we can give you a real interest rate quote based on your specific situation.
The rules say you will likely need a FICO score of 680 on the low end. In general, the higher your credit score, the lower your down payment can be. Every borrower is unique so check with us to find out how this rule-of-thumb applies in your case.
To get a traditional jumbo home, your bills (including your home loan) can take up no more than 43% of your income. Every borrower is unique so check with us to find out how this rule-of-thumb applies in your case.
Planet's Investor Solutions home loan lets you buy investment properties based on rental income. You can opt for a purchase investor loan, or you may be able to cash out equity from existing rental properties to buy more units. Investor Solutions lets you have an unlimited number of mortgages on properties you already own (but only six of them can come from Planet Home Lending).
Business owners, especially self-employed ones, can qualify for a jumbo home loan based on the cash flows into and out of their bank accounts. Call us any time and we can give you a real home loan quote based on your specific situation.
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