A jumbo home loan (or jumbo mortgage) is a mortgage loan that exceeds the conventional conforming loan limit. The conforming loan limit is set by Fannie Mae and Freddie Mac. In Florida, the current conforming loan limit is $424,100*, but the median home value is $203,000. This median value is expected to increase an additional 2.1% by 2018, making a jumbo loan in Fort Myers the ideal option for home buyers.
A jumbo loan from American Equity Mortgage can provide up to $3 million to qualified home buyers. The benefits* of a jumbo loan include the following:
- Purchases up to 90% LTV
- Rate & Terms 90% LTV
- FICO’s down to 680
- Fixed, ARM, and interest only ARMs available
- First time homebuyers are permitted
- Max LTV on Cash Out is 70%
- Loan amounts up to $3M on single family primary residence in most states
Don’t let the price of your dream home stop you from making the purchase. American Equity Mortgage will work with you to find the perfect jumbo loan program for your specific situation. Whether you’re buying a “forever home” as a first time homebuyer or investing in a home located in a highly priced neighborhood, our Loan Originators will work with you to quickly close your loan. Contact American Equity Mortgage today and see if you qualify for a competitive interest jumbo loan in Fort Myers.
American Equity Mortgage serves Fort Myers and the surrounding metro areas including, but not limited to: Cape Coral, Lehigh Acres, Bonita Springs, Estero, Naples, and Marco Island.