Gainesville Jumbo Loans

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Every now and then, dream homes are huge, lavish and unfortunately more than we are able to afford. Why? Because obtaining a Gainesville mortgage of that size is virtually impossible. Or is it? Did you know that Gainesville Florida jumbo mortgage loans allow you get your dream home; regardless of how expensive it may be or seem? If not, don’t worry as we are detailing it below.

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What is a Gainesville Jumbo Mortgage?

In essence, a Gainesville Florida jumbo mortgage loan is just a mortgage loan which is larger than your average loan. Normal sized mortgages are capped at a agency conforming size of roughly $417,000. With that being said, jumbo loans increase that limit and go up to over $3,000,000.

Why Request a Gainesville Jumbo Mortgage?

The real question pertains to why a Gainesville jumbo mortgage loan should even be sought. The simple explanation, because why not. If you want to obtain a huge property, and a regular mortgage won’t do the trick, then you can obtain a jumbo mortgage loan instead. In theory, nobody wants to let their dream property out of their grasps.

Eligibility Requirements for Gainesville FL Jumbo Mortgage Loans

While Gainesville jumbo loans sound like a dream come true, there are some requirements that need to be met. With jumbo loans, you need to:

Make a down payment of at least 20%
Document your income
Make sure that your mortgage loan payments are lower than or equal to 38% of your pretax income.

How to go about obtaining a Gainesville jumbo loan

If you want to obtain a jumbo mortgage loan, all you need to do is request one from your local lender. They will guide you through obtaining a jumbo mortgage and help you in getting the property you’ve always wanted. It’s that simple.

If you require more information on Gainesville FL jumbo mortgage loans, please contact us at (877) 442-4023. First Nationwide Lending will be extremely happy to answer as many questions as you have about jumbo loans, or any other loan program for that matter.

First Nationwide Lending offers home owners, and those look to refinance, a variety of different financial options, including, but not limited to: purchase mortgages, refinance loans, reverse mortgage loans, USDA loans, FHA home loans, jumbo mortgage loans, HARP refinance mortgages, and VA loans.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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