Capital Home Mortgage Arizona

Arizona Jumbo Home Loans

Jumbo Mortgage Lender Arizona

Jumbo Home Loans In Arizona

What is a Jumbo Mortgage?

A jumbo loan is a type of financing in the United States that exceeds the limits established by the Federal Housing Finance Agency (FHFA). This limit, also known as the conforming loan limit, is set annually and differs by region.

Unlike conventional mortgages, jumbo loans cannot be purchased, insured, or securitized by Fannie Mae or Freddie Mac, the two government-sponsored enterprises that buy most U.S. residential mortgages to ensure market liquidity.

In highly competitive local real estate markets, jumbo loans are generally utilized to finance luxury homes. Lenders view these loans as risky because of the huge loan amount and the inability of Fannie Mae and Freddie Mac to purchase them. They require a larger down payment and an excellent credit score.

There are no restrictions regarding the categories of properties that can be purchased with a jumbo loan. The loan can be used for various property types as long as the borrower satisfies other specific lender requirements.

Qualification Requirements of Jumbo Loans

To qualify for a jumbo loan, a borrower must typically satisfy stricter eligibility requirements than conforming loans due to the higher risk involved for the lender. Jumbo loan’s specific eligibility requirements may vary by lender but usually include the following:

  • Higher Credit Score

Borrowers usually need a credit score of 700 or above, while some lenders may require 740 or higher.

  • Low Debt-to-Income (DTI) Ratio

Lenders may require a lower debt-to-income (DTI) ratio than conventional loans. The DTI ratio measures the proportion of a borrower’s gross monthly income that goes toward debt service. The optimal ratio for jumbo loans is less than 43%.

  • Larger Down Payment

The typical down payment for a jumbo loan is 10% of the purchase price. However, some lenders may require a 20% or more significant down payment on the property’s purchase price.

  • Significant Reserves

Lenders require applicants to have sufficient cash reserves to cover several months of mortgage and living expenses. This ensures borrowers can continue to make loan payments in the event of unforeseen expenses or a loss of income. Reserve requirements of six to twelve months are typical for jumbo loans. Some lenders may require a 12- to 24-month reserve.

Given the magnitude and risk of jumbo loans, these eligibility requirements protect the borrower from taking on more debt than they can manage and the lender from the possibility of default.

Advantages of a Jumbo Loan

Although they have stricter credit requirements than conventional loans, they have several benefits.

  • Higher Loan Limits

As their name implies, Jumbo loans permit more significant loan amounts than conventional mortgages. This is especially advantageous for purchasing a home in a high-priced or luxury area. With a jumbo loan, the amount needed can be borrowed in a single loan instead of multiple loans or a combination of a mortgage and home equity loan.

  • Financing Luxury Properties

Jumbo loans are frequently used to finance luxury homes in highly competitive real estate markets. This could imply purchasing a larger home, a property in a desired neighborhood, or a home with high-end features. The availability of jumbo loans broadens the potential market of properties available to borrowers.

  • Flexibility and Options

As non-conforming loans, Jumbo loans are not subject to the same requirements as government-backed loans. This allows lenders to be more flexible regarding lending terms and repayment options.

Despite these benefits, it is essential to note that jumbo loans may have higher interest rates, require a higher credit score, and incur higher closing costs. Before deciding on a jumbo loan, prospective borrowers should continually evaluate the pros and cons and consider their financial situation.

Apply for a Jumbo Loan in Arizona

Capital Home Mortgage offers jumbo loans with numerous advantages to Arizona consumers seeking to purchase expensive or luxury properties. Capital Home Mortgage provides investment property options. For your peace of mind, we offer a closing guarantee that the loan will close on or before the date specified in the contract. Capital Home Mortgage’s jumbo loans provide higher loan amounts, flexibility, and financial security, making them an attractive option for Arizona borrowers seeking jumbo loans.

Call our Arizona Jumbo Loan Experts at (480) 360-6650 for any questions about qualifying for a Jumbo loan. We are here to help.

Why Arizona HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Washington Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Arizona Jumbo Home Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines
Arizona Mortgage Programs

Arizona Home Purchase

Thinking of Buying an Arizona Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Arizona renovation home loans

Looking to Rehab an Arizona Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Arizona FHA Home Loans

Great for 1st Time Arizona Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Arizona VA Home Loans

100% Financing for Arizona Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Arizona Conventional Home Loans

Flexibility for Arizona Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Arizona Jumbo Home Loans

Arizona Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Arizona USDA Home Loans

100% Arizona Rural Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Arizona Native American Home Loans

Arizona HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Arizona Manufactured Home Loans

Great Alternative Arizona Housing

Arizona reverse mortgages

Your Arizona Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Arizona Non QM Home Loans

Making Arizona Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Arizona One Time Close mortgages

Build Your Arizona Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Arizona Refinance Mortgage Loans

Arizona Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Arizona Cash-out Home mortgages

Arizona Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Arizona Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Jordan Mowrey

SR Loan Officer
NMLS 210325

Brad Rund

Business Dev Manager
NMLS #224674

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