Miami Beach Jumbo Loans

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Sometimes, the perfect homes are extremely large, lavish and unfortunately cost a lot more than we can pay cash. Why? Because obtaining a Miami Beach home loan of that size is virtually impossible. Or is it? Are you aware that Miami Beach Florida jumbo mortgage loans help you get your ideal home; regardless of how expensive it may be or seem? If not, don’t worry as First Nationwide Lending is outlining how below.

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What is a Miami Beach FL 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. With that being said, jumbo home mortgages 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 real question pertains to why a Miami Beach jumbo mortgage loan should even be sought. The answer, because why not. If you want to buy an expensive home, and a regular home loan won’t do the trick, then you can obtain a jumbo mortgage loan instead. In theory, nobody wants to let their dream home slip form their fingers.

Eligibility Necessities for Miami Beach Florida Jumbo Loans

Even though Miami Beach jumbo mortgages may sound like a the ideal fit, there are some requirements to meet. With jumbo mortgages, you need to:

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

How to go about getting a Miami Beach jumbo loan

If you are trying to obtain a jumbo mortgage loan, all you have to do is ask your mortgage lender for one. They will guide you through the process of acquisition and assist you get the home of your dream. It’s that simple.

If you require more information on Miami Beach Florida jumbo mortgage loans, feel free to contact us at (877) 442-4023. First Nationwide Lending will be extremely happy to answer as many questions as you have about jumbo mortgages, or any other mortgage 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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