Jumbo loans are loans that exceed the loan limits of Agency or conforming loans ($484,350 in most counties in South Carolina) and are therefore considered “non-conforming” loans. While the underwriting guidelines vary between the different investors offering these larger loans, the underwriting guidelines are often more stringent than those of conforming loans.
Today, financing is available for Jumbo loans with only 5% down for buyers with a 700 score.
First Nations Home Mortgage has established relationships with investors offering jumbo loans at very low rates. Call us today to discuss your options.