Jumbo Loans
Unlock Greater Borrowing Power
Maximize Your Loan Potential
Purchasing a high-value property is a significant milestone, but it often requires financing beyond the limits of conventional mortgages. That’s where a jumbo loan comes into play. At Focus Mortgage Solutions, we specialize in providing flexible and tailored jumbo loans that empower you to pursue the home or investment property of your dreams. Whether you’re eyeing a luxury home, a multi-unit property, or simply need a larger loan than what a standard mortgage can offer, our jumbo loan products are designed to meet your needs.
We understand that navigating the world of mortgages can be complex, especially when dealing with larger sums of money. That’s why our experienced team is here to guide you every step of the way, ensuring that you not only secure the financing you need but also understand every aspect of your loan. With competitive interest rates and personalized service, Focus Mortgage Solutions is your trusted partner in achieving your real estate goals.
What is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits define the maximum amount that can be financed through government-sponsored entities like Fannie Mae and Freddie Mac. When the loan amount surpasses these limits, it falls into the category of a jumbo loan, which is often required for purchasing luxury homes, large investment properties, or homes in high-cost areas.
In Marion County, Florida, for instance, the conforming loan limit is $766,550 for a single-unit property. This means that if you need to borrow more than this amount, you would require a jumbo loan. For multi-unit properties, the limit is even higher, reaching up to $1,474,400 for a four-unit residence. These limits are important because they determine the threshold at which a loan is considered “conforming” and eligible for purchase by Fannie Mae and Freddie Mac. Once you exceed these thresholds, you enter the realm of jumbo loans, which come with their own set of qualifications and benefits.
Why Choose a Jumbo Loan?
Choosing a jumbo loan opens the door to opportunities that simply aren’t available with standard conforming loans. One of the primary advantages of a jumbo loan is the ability to borrow a significantly higher amount, making it possible to finance properties that are out of reach for many borrowers. Whether you’re looking to buy a sprawling estate, a multi-unit property, or a home in a high-cost area, a jumbo loan provides the necessary financial flexibility to make your purchase a reality.
Moreover, jumbo loans often come with competitive interest rates that can be as favorable, or even better, than those offered for conventional loans. This can translate into lower monthly payments and substantial savings over the life of the loan. Additionally, by opting for a jumbo loan, you have the potential to maintain a more liquid financial position, as it allows you to finance a larger portion of your home’s value without having to tie up all your available cash in a down payment.
Our Jumbo Loan Products
At Focus Mortgage Solutions, we offer a variety of jumbo loan products tailored to meet different financial needs and credit profiles.
Our goal is to ensure that you not only achieve your homeownership dreams but do so with confidence and clarity.
Jumbo Yellow:
- 30-year term
- Minimum FICO score of 680
- Loan amounts from $400,000 to $3.5 million.
Jumbo Pink:
- 30-year term
- Minimum FICO score of 680
- Loans starting at $1 over the conforming loan limit, up to $3 million.
Jumbo Purple:
- 30-year term
- Minimum FICO score of 680
- Loan amounts from $400,000 to $3.5 million.
Jumbo Green:
- 30-year term
- Minimum FICO score of 680
- Loans start at $1 over the conforming loan limit, up to $2.5 million.
Jumbo Blue:
- 30-year term
- minimum FICO score of 680
- loan amounts from $400,000 to $3.5 million.
Jumbo White:
- 15-year term
- Minimum FICO score of 6700
- Loan amounts from $600,000 to $3 million
Additional Jumbo Loan Products:
- Prime Jumbo ARMs: 5, 7, or 10-year adjustable-rate loans, minimum FICO score of 680, loan amounts up to $3 million, may require two appraisals.
- Prime Jumbo Max ARMs: 7 or 10-year fixed, minimum FICO score of 700, loan amounts up to $3 million, may require two appraisals.
- Prime Jumbo Interest Only: 30-year fixed, with the first 10 years as interest-only payments. Loan amounts up to $3 million, minimum FICO score of 700, may require two appraisals.
Each of these jumbo loan options offers different terms and benefits, allowing you to choose the one that best suits your financial needs and goals.
At Focus Mortgage Solutions, we offer a variety of jumbo loan products tailored to meet different financial needs and credit profiles. Whether you’re looking for a fixed-rate option, an adjustable-rate mortgage (ARM), or an interest-only loan, we have the expertise and options to help you find the perfect fit. Our goal is to ensure that you not only achieve your homeownership dreams but do so with confidence and clarity.