Miami Jumbo Loans

apply-now-todayAt First Nationwide Lending, we know that a dream home appears in an instance. You just pass a home and you instantly fall in love with it. We also know that many are unable to purchase the home due to an unusually large home loan; a loan which they cannot acquire. Or can they? If you want to purchase that large home, then you’re going to need a large loan.

What are Miami Jumbo Loans?

We realize that most homes in Miami can be pricier than your average home. As such, if you live in Miami, jumbo loans may be the perfect way for you to acquire your dream home. A jumbo loan is a home loan that is generally larger than your average home loan and usually larger higher than state limits; up to $417,000 usually, or $625,500 in some states.

Miami Jumbo Loan Requirements

Once you know what Miami jumbo loans are, you need to qualify for one. However, qualifying for a Miami jumbo loan is harder than qualifying for a regular home loan. For example, you need a significantly higher credit score, have a large emergency fund and make a larger than normal down payment. Most importantly, the mortgage must have been acquired from or be guaranteed by either Freddie Mac or Fannie Mae.

Benefits of Miami Jumbo Mortgages

Miami jumbo loans bring with them a number of benefits. The most prominent benefit is that you get to purchase the expensive home you were dreaming about. Since you gain a larger home loan, you repay it over a larger period.

In fact, many jumbo loans are better than regular loans. If you acquire a jumbo loan a little over the limit, you can repay a relatively smaller amount over a much larger period. As such, you make smaller mortgage payments.

If you still require more information about Miami jumbo loans, feel free to contact First Nationwide Lending at (877) 442-4023. As an authority on home loans, we will make sure you get the best jumbo loan.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

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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