Saint Petersburg Jumbo Loans

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Sometimes, the perfect homes are extremely large, luxurious and unfortunately cost a lot more than we are able to pay cash. Why? Because obtaining a Saint Petersburg mortgage of that size is somewhat difficult. Or is it? Are you aware that Saint Petersburg FL jumbo mortgages allow you get your ideal home; regardless of how expensive it may be or seem? If not, that’s ok as we are detailing how below.

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What is a Saint Petersburg Jumbo Loan?

In essence, a Saint Petersburg FL jumbo loan is just your larger than average home loan. Regular mortgages are restricted to agency conforming size of roughly $417,000. With that being said, jumbo mortgages increase that limit and go up to over $3,000,000.

Why Obtain a Saint Petersburg Jumbo Home loan?

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

Eligibility Requirements for Saint Petersburg FL Jumbo Loans

Even though Saint Petersburg jumbo mortgages may sound like a the ideal fit, there are always a number of requirements that need to be met. With jumbo mortgages, you need to:

Put down at least 20%
Have your income documented
Make sure that your mortgage loan payments are lower than or equal to 38% of your pretax income.

How to get a Saint Petersburg jumbo mortgage

If you are trying to obtain a jumbo loan, all you have to do is request one from your local mortgage company. They should be able to guide you through the process of acquisition and help you in getting the property you’ve always wanted. It’s that easy.

If you would like more information on Saint Petersburg FL jumbo mortgages, please 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 mortgages, or any other mortgage for that matter.

 

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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