Need help? (888) 508-6055

Jumbo Loan

Borrow more with an insanely low rate!

I'm interested in:
Refinance Purchase

Jumbo Loan

A jumbo loan is one which is higher than the conforming loan limit for the county or state. For most areas of the country, loans above $548,250 are considered jumbo. At RK Mortgage Group we offer some of the most versatile jumbo loan programs in the industry. In addition to the conventional jumbo products, we provide solutions beyond traditional banking, offering a range of specialty products to help borrowers who do not fit traditional guidelines.

Start Online
Speak to a Loan Officer today  (888) 508-6055
Why Choose Us
Low Rates

We offer one of the industries lowest rates.

Secured Online Process

Upload loan documents and e-sign mortgage forms online.

Exceptional Customer Service

Your dedicated Loan Specialist will be your guide from application to closing.

Fast Financing

We’ll help you close quickly, so you can get the keys to your new home in no time.

How it works
Recently Funded
Our real clients testimonials

Jumbo mortgages are one option for purchasing or refinancing your home that is outside of the conforming limits. If you’re struggling to document income because of self employment or other reasons you could benefit from our Bank Statement Program or Stated Income Program. You can find out more about programs tailored to your individual financial needs and goals by contacting one of our licensed mortgage loan originators for more information.

Do I Need a Jumbo Mortgage?

Jumbo mortgage loans are any single home loan with an amount higher than the conforming loan limit set by the Federal Housing Finance Agency. The conforming limit in 2021 is currently $548,250 for most of the contiguous United States. If you live in high cost areas that limit can go up to as much as $765,600.

If amount you’re borrowing doesn’t meet the limits set by Fannie Mae and Freddie Mac it is considered non conforming and one of your options for financing is a jumbo mortgage.

These means Fannie Mae and Freddie Mac will not buy these loans because they are outside the minimum guidelines set for borrowing amounts, credit scores, down payment and reserves. 

If the home you’re purchasing puts you outside of Fannie and Freddie guidelines many conventional lenders will not offer you a mortgage. Qualifying for a jumbo loan can get the financing you need to complete your purchase. 

Qualifying Is Easier Than Ever

Today’s jumbo loans offer many of the same flexible options available with conforming home loans. You can choose term lengths ranging from 15 to 30 years with fixed or adjustable interest rates. There are even loan options available for FICO scores as low as 620. 

Because jumbo home loans aren’t limited by Fannie Mae and Freddie Mac program, guidelines are set by private lenders and you can find programs for cash out and rate/term refinance jumbo loans for your primary home, second home and investment properties.

There are even jumbo programs for purchasing homes with as little as 5 percent down on homes up to two million dollars.

Adjustable Rate Jumbos Can Keep Costs Down

Choosing an Adjustable Rate Mortgage (ARM) can often get you an interest rate one percentage point lower than a fixed rate mortgage. If you’re going to need a much larger amount to purchase or refinance your home, choosing an adjustable interest rate will keep your costs and most importantly, your payment amount down. 

Like a conforming Adjustable Rate Mortgage, jumbo home mortgages with adjustable interest rates come with a fixed rate introductory period. Once this period expires your ARM will begin adjusting, changing your monthly payment amount. You can find programs with fixed rate periods varying from three, five, seven and ten years.

If you’re unsure which limits apply to your situation one of our loan specialist can match you with the right program; contact us today for personalized consultation.