Simple and Easy.
Jumbo Mortgages Stated Clearly.
Jumbo mortgages are Portfolio Loans that are not connected to any Government Agency. They are geared for A paper borrower. Approvals are heavily focused on your credit worthiness coupled with a deep dive into your income and assets.
Jumbo Loans Are Our Specialty
A loan is considered a jumbo if it exceeds what is known as the conforming loan limit. The current conforming loan limit for a single-family home is $548,250. For Virginia borrowers, conforming “High Balance” limits range up to $822,000 depending on your county of residence, as of January 2, 2020. Loans above this limit are considered a Jumbo loan.
Over the past few years, some lenders have decreased their Jumbo Loan offerings and have made them harder to obtain, but at NEXA Mortgage, we can get you the best rate possible on your Jumbo home loan.
Jumbo Home Loan Qualifications
In order for borrowers to qualify for conventional and super jumbo loans, they must have strong credit, higher down payments, typically 10%, and more assets (reserves). Most of our Jumbo programs have no MI (mortgage insurance).
Types of Jumbo Loans
NEXA Mortgage works with a vast network of nearly 200 lenders and investors giving us acess to over 2,800 loan programs.
NEXA has over 1,400 loan officers throughout the USA giving us unparalleled pricing power. Traditional banks or lenders just can not compete on price, value, or service.