The main difference between a Jumbo Loan and a conventional mortgage is the amount you’re borrowing. Standard conventional mortgages are limited to an amount known as the conforming loan limit. As of 2023, the conforming loan limit is $726,200 in most areas.
Why Choose Jumbo Loans?
As home prices continue to rise, many homes are becoming too expensive for a standard mortgage, and buyers who need to finance more than that will require a Jumbo Loan. Jumbo loans typically require large down payments and good credit scores to qualify, but at Elev8 Mortgage we provide options for many other scenarios you won’t find elsewhere!
Ready to Get Started?
If you are in the market to get a Jumbo Loan home mortgage, reach out to us today and our team will happily guide you through the process.