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Fort Worth Jumbo Home Loans

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Fort Worth Jumbo Mortgage Lender

Jumbo Loans In Fort Worth

What Is A Jumbo Mortgage?

Jumbo loans are mortgages used to fund the purchase of properties higher than the conforming loan limit. Across all states, jumbo loan borrowing requirements are much more stringent than traditional mortgages.

The conforming loan ceiling for all counties in Texas for 2022 is $647,200. Any mortgage loan that exceeds that amount is classified as a jumbo loan.

How Do You Qualify For A Jumbo Loan?

Jumbo loans are not the same as conventional mortgages. These loans have stricter restrictions, and you’ll need to meet specific requirements for property type, down payment, credit score, and debt-to-income ratio.

  • Credit

The credit score for a jumbo mortgage will vary depending on the lender and loan parameters. The minimum credit score requirement for a jumbo loan is a 680 score. Most lenders require a FICO score of 700 and above to qualify for a jumbo loan, depending on the property type and what you want to do in your mortgage transaction.

  • Income

The maximum back-end debt-to-income (DTI) ratio on jumbo loans is 43%. Your debt-to-income ratio (DTI) compares the amount of money you earn to what you owe. To determine your DTI ratio, divide your total monthly debt obligations by your pretax income.

A low DTI ratio is crucial for obtaining a jumbo loan since it demonstrates to lenders that you have the sufficient cash flow to fulfill your mortgage payments. You may qualify for a jumbo loan with a higher DTI ratio if you have a larger down payment or a higher credit score.

  • Assets

Jumbo loans typically require a 10 – 20% down payment for single-family homes. Lenders ask for a 20% down payment on jumbo loans for single-family homes. Second homes and multi-family properties may require a larger down payment. The loan amount and credit score are based on these factors.

Besides the down payment, jumbo loan borrowers must have 6 – 12 months of reserves. Depending upon their circumstances, lenders may require 12 – 24 months in reserve for borrowers with low FICO scores.

Apply for a Jumbo Loan with Capital Home Mortgage

Contact the specialists at Capital Home Mortgage at (817) 779-7133 if you’re considering purchasing a high-priced house in Fort Worth. Our jumbo loan experts can review the process with you and help you determine if a jumbo loan is the best option for you.

Why Fort Worth is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Fort Worth Rates / Low Fees

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Fort Worth Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Quick Facts for Fort Worth Jumbo Mortgage Loans

  • Up to 3 Million Loan Amounts
  • Up to 90% Loan to Value
  • Traditional and Non QM Programs
  • Subject to Investor Requirements

Not Sure? Take a Look at Other Fort Worth Mortgage Programs

Fort Worth Mortgage Team

Conor Hayhurst

Managing Director
NMLS 743506

Kelly Cameron

Loan Officer
NMLS 178093

Kelvin Thompson

Loan Officer
NMLS 2050042

Jonathon Cummins

Loan Officer
NMLS 270657

Fort Worth Mortgage Company Reviews

What is a Jumbo Mortgage Loan?

Jumbo home loans, also called a non-conforming home loans, are home loan that exceeds the county lending limits of the government entitled loans secured by Fannie Mae or Freddie Mac. The lending threshold differs by state and county and is determined by the maximum county limits for Fannie mae.com. Fannie Mae Freddie Mac Jumbo loans are backed by private investors and have different underwriting requirements from traditional Conventional and government home loans.  Meaning no guarantee or protection of foreclosure is provided to the investors.  Consequently, mortgage underwriting guidelines are not standardized and generally subject to the individual investor requirements. These guidelines are typically more restrictive, but do make it possible for larger home purchases to be financed.