Jumbo Mortgage Loans

Jumbo Mortgages for Valuable Homes

  • Do you plan to borrow $484,350 to $3 million?
  • Do you want competitive rates and flexible terms?
  • Do you want to buy or refinance your main home, second home, vacation home, or investment property?

Planet Home Lending's Jumbo home loan may be right for you. Our Jumbo Loan professionals deliver concierge service. Call 866-882-8187 or sign up for a consultation now!

What's a Jumbo Mortgage Loan?

Jumbo loans are mortgages for $484,350 to $3 million. You can use a Jumbo mortgage to buy or refinance a main home, second home, vacation home, or investment property.

  • Planet offers 15-and 30-year Jumbo mortgages
  • Rates can be fixed or adjustable
  • You don't need perfect credit, we have programs for borrowers with credit challenges

How Do Jumbo Home Purchase Loans Work?

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 $484,350 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 866-882-8187 or sign up to start now!

What's Your Jumbo Refinancing Goal?

Planet Home Lending's Jumbo refinance mortgage rates deliver competitive pricing with concierge service.

What's your refinancing goal?

  • Cash out equity to fund life goals, like paying for college, buying a second home, or paying off high-interest debt
  • Did you ride the interest rate curve down? Want to lock in now to avoid rising rates?
  • Potentially, save hundreds of thousands in interest payments by reducing the term of your loan from 30 years to 15 years
  • We offer loans for borrowers with credit challenges

Our Jumbo Professional discusses your refinancing needs, then stays with you throughout the journey, on call to answer your questions, and speed the process.

Call 866-882-8187 or sign up to start now!

Personalized Service

  • Jumbo Features – Home purchase loans to $3 million
  • Cash Out –Cash out equity to fund life goals
  • Concierge Service – Our Jumbo Professionals are on call for you
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Jumbo Home Loan Frequently Asked Questions

Is it hard to get a jumbo home loan in today's market?

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.

What do lenders look at when considering borrowers for jumbo home loans?

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.

Is it harder to get a jumbo mortgage than a conventional mortgage?

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.

Do I need a bigger down payment to get a jumbo home loan?

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.

What are the benefits of jumbo home loans versus conventional mortgages?

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.

How do jumbo interest rates compare to conventional interest rates?

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.

What credit score do I need to get a jumbo home loan?

You will likely need a FICO score of 661 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.

What are debt-to-income ratios for jumbo home loans?

To get a traditional jumbo home, your bills (including your home loan) can take up no more than 43% of your income. Planet has some jumbo loans that let you devote up to 50% of your income on your debts. Every borrower is unique so check with us to find out how this rule-of-thumb applies in your case.

Are there jumbo home loans foreign nationals can use to buy U.S. homes?

Foreign nationals who want to purchase a second home or vacation home may qualify for a Planet jumbo mortgage. Call us any time and we can give you a real home loan quote based on your specific situation.

Are there jumbo investment property loans?

The Investor Solutions jumbo home loan lets you buy investment properties based on rental income. You can opt for a jumbo 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).

Are there jumbo home loans for self-employed people and business owners?

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. There’s no need to supply federal tax returns when you opt for this jumbo mortgage program. Call us any time and we can give you a real home loan quote based on your specific situation.

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