Miami Beach Jumbo Loans

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Sometimes, dream homes are extremely large, luxurious and unfortunately more than we can afford. Why? Because obtaining a Miami Beach home loan of that magnitude is virtually impossible. Or is it? Did you know that Miami Beach Florida jumbo mortgages allow you get your dream home; regardless of how expensive it may be or seem? If not, don’t worry as First Nationwide Lending is outlining it below.

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What is a Miami Beach Jumbo Loan?

In essence, a Miami Beach Florida jumbo mortgage loan is just a mortgage loan which is larger than your average loan. Normal sized mortgages are restricted to state-conformed size of roughly $417,000. However, jumbo loans increase above and beyond that amount and can increase to as high as $3,000,000.

Why Obtain a Miami Beach Jumbo Mortgage Loan?

The thing to consider is why a Miami Beach jumbo mortgage loan should be requested. The answer, because you can. If your trying to purchase a huge property, and a conforming home loan won’t do the trick, then your goal is to obtain a jumbo mortgage loan instead. In theory, nobody would want to let their ideal property slip form their fingers.

Eligibility Necessities for Miami Beach Florida Jumbo Mortgages

Even though Miami Beach jumbo loans may sound like a dream come true, there are always a number of requirements to meet. With jumbo loans, you need to:

Make a down payment of at least 20%
Provide full documentation of your income
Ensure that your mortgage loan payments are less than or equivalent to 38% of your untaxed income.

How to get a Miami Beach jumbo mortgage

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

If you would like more information on Miami Beach Florida jumbo mortgages, feel free to contact us at (877) 442-4023. We will be more than happy to provide answers to as many questions or concerns as you have about jumbo loans, or any other loan program for that matter.

 

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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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