Redding jumbo mortgage

Why a Jumbo Mortgage?

If you’re looking to buy an expensive home and need a large loan amount, a Jumbo Mortgage could be the right option for you. Jumbo Mortgages exceed the conforming limit on loans set by Fannie Mae and Freddie Mac.

What are Conforming Limits?

In most states, the conforming limit is around $453,100, but varies by location. Other areas that are specified to have a higher cost of living have a higher conforming limit of about $679,650. If you are looking to purchase a home and would like a loan amount greater than the conforming limit for your area, it’s likely that you will want to apply for a Jumbo Mortgage.

Will I Have Mortgage Insurance?

There is no private mortgage insurance (PMI) with a Jumbo Mortgage. To qualify, requirements for the borrower will be different compared to requirements of other loan types. Usually Jumbo Mortgages require a lower debt-to-income ratio, a higher credit score, and a more substantial down payment.

There's Only 1 Benji! Contact Us Today
  • We are refinancing our home with the most friendly and helpful staff at Only 1 Benji Redding, CA Home Loans... read more

    Jackie D.
  • After my home buying experience a year and a half ago I was reluctant to start a refinance and go... read more

    Tom's A.
  • Do it right the first time Previously financed my home with another lender, The process was tedious and took forever, over 6 months to close! Benji... read more

  • Only! Benji We are in the process of refinancing our home and all the staff has been so friendly and very helpful.... read more

  • Great service Benji and his staff are very helpful and friendly. Happy to be working with them on our home refinance. I... read more

    Brittney T.
  • Great people Just wanted to say thank you so much for your help so great to my family and kid's made home... read more

    Megan L.
  • Great experience! This process was very easy and streamlined due to the excellent and knowledgeable staff! They were easily accessible and helpful... read more

  • Benji and his staff are very helpful and friendly. Happy to be working with them.

    Brittney T.
  • Smooth Sailing Very impressed with the entire staff's kindness and professionalism. So far this entire purchasing experience has been smooth sailing. Thanks... read more

    t k.
  • #1 Benji lives up to his name! This is the second time I have went to #1 Benji for a home loan and both experiences were excellent.... read more

    r f.

What's Your Home Worth?

Find Out Instantly
Only 1 Benji Family

We Look Forward to Working with You!

(530) 949-9560

Apply Now! Our Team Contact Us Commercials