Jumbo Loans

A Jumbo Loan with 10% or Less Down Payment

The mortgage team at Preferred Home Lending LLC is able to offer jumbo mortgage loans for as low as 10% down. A jumbo mortgage is a financing option available for homes valued at more than approximately $420,000. Traditionally, more expensive homes require a larger down payment because they carry a higher risk for lenders. Our vast array of lending options help us facilitate customized mortgage options, including jumbo loans. Unlike big banks, the Preferred Home Lending LLC brokers can give a high level of personal attention as you navigate the process of financing and purchasing a home. Contact Preferred Home Lending LLC in Houston, TX, today to learn more about a jumbo mortgage loan.

What Makes a Loan Jumbo?

Jumbo loans are different than conventional mortgages because they exceed the lending limits set by Fannie Mae and Freddie Mac. Traditionally, jumbo loans carry higher interest rates and a larger down payment than smaller loans. We can cut through some of the approval requirements set by big banks to offer jumbo loans with 10% or less down payment in many cases. Typically, the higher your credit score and income, the lower your down payment can go. Jumbo loans come with a variety of terms (typically 15-30 year) to suit your needs.

Eligibility for a Jumbo Mortgage

Because they are not insured through a federal agency like FHA and VA loans, jumbo loans have more stringent requirements in many cases. They include:

  • A certified property appraisal
  • A maximum debt-to-income ratio of 45%
  • A good to great credit score
  • Well-documented income history
  • Required private mortgage insurance

Our mortgage brokers can help determine your eligibility for a jumbo home loan with 10% or less down, fast. We can provide pre-approval in many cases so you can go about looking for a new home with financial confidence.

Getting Started Today

The mortgage brokers and loan originators at Preferred Home Lending LLC in Houston cut through the red tape involved with borrowing from a big bank. We can evaluate your finances and provide you approval quickly. Our team is experienced with financing for more expensive homes in the Houston area. We can provide approval faster and at better rates than huge lending institutions. Contact us today with any questions you have about a jumbo mortgage loan and schedule a consultation.