Capital Home Mortgage Idaho

Idaho Jumbo Home Loans

Jumbo Mortgage Lender Idaho

Jumbo Home Loans in Idaho

A jumbo loan is a mortgage loan that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limit. In Idaho, the conforming loan limit in most counties is $726,200.  A jumbo loan is any mortgage loan that exceeds this threshold.

Jumbo loans often require a higher credit score and a more significant down payment than conforming loans, and underwriting conditions may be more stringent. Additionally, jumbo loan interest rates may be higher than conforming loan rates. In Washington State, these loans are typically utilized to acquire more expensive properties, such as luxury residences.

Qualification Requirements of a Jumbo Loan

The three prerequisites for jumbo loans are a high credit score, a low debt-to-income (DTI) ratio, and adequate cash reserves.

  • Credit Score

A higher credit score is required to qualify for a jumbo loan than a conventional one. Lenders use your credit score to determine your financial reliability. A good score facilitates the demonstration of fiscal responsibility.

Depending on the lender, jumbo loans require a credit score of at least 720, while some offer jumbo loans to borrowers with a credit score of at least 700 and a more significant down payment requirement.

  • Debt-to-Income Ratio

In addition to reviewing your credit report, lenders will also consider your debt-to-income ratio (DTI). Your DTI is the ratio between your gross monthly income and total monthly debts. If your debt-to-income ratio is high, lenders may be concerned that you won’t be able to make your mortgage payments in times of financial difficulty.

In most cases, the maximum debt-to-income ratio (DTI) for jumbo loans is 43 percent. Lenders prefer a lower debt-to-income ratio without compensating factors.

  • Reserves

A cash reserve (also known as a mortgage reserve) is the “rainy day” reserve you’ve set aside for emergencies like job loss. 

You should demonstrate that your savings can cover at least six to twelve months of mortgage payments. Remember that you will still need to pay the down payment and closing charges if your loan is accepted. You must demonstrate that your cash reserves can meet the closing expenses and mortgage payments for at least six to twelve months.

Downpayment Requirement of a Jumbo Loan

As a general rule of thumb, you can anticipate making a down payment of at least 10% for a jumbo loan. While a 20% down payment is reasonable, certain lenders may ask for a 25% or even 30% minimum down payment. In the end, your credit score and debt-to-income ratio may determine the amount of the down payment required to qualify for a jumbo loan.

Apply For A Jumbo Home Loan in Idaho

Capital Home Mortgage Idaho is committed to providing a one-of-a-kind home-buying experience. Contact our Alabama Loan Officers at (208) 991-1303 to begin the application process for a Jumbo loan.

Why Idaho 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

Idaho 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

Idaho 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
Idaho Mortgage Programs

Idaho Home Purchase

Thinking of Buying an Idaho 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

Idaho renovation home loans

Looking to Rehab an Idaho 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

Idaho FHA Home Loans

Great for 1st Time Idaho 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

Idaho VA Home Loans

100% Financing for Idaho 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

Idaho Conventional Home Loans

Flexibility for Idaho 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

Idaho Jumbo Home Loans

Idaho 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

Idaho USDA Home Loans

100% Idaho 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

Idaho Native American Home Loans

Idaho 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

Idaho Manufactured Home Loans

Idaho Alternative Housing

Idaho reverse mortgages

Your Idaho 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

Idaho Non QM Home Loans

Making Idaho 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

Idaho OTC Home mortgages

Build Your Idaho 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

Idaho Refinance Mortgage Loans

Idaho 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

Idaho Cash-out Home mortgages

Idaho 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

Idaho Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132

Jordan Mowrey

SR Loan Officer
NMLS 210325

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