Jumbo Homes Loans on Cape Cod, MA. Up to $10 Million in funding from Slade Mortgage
When a loan amount reaches a certain point, Jumbo and Super Jumbo Loans can offer high-end financing that a traditional loan can’t.
Over the past few years, some lenders on the Cape have decreased their Jumbo Loan offerings and have made them harder to obtain, but at Slade Mortgage Group, Inc., we can get you the best rate possible in Cape Cod on your Jumbo Loan.
Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits, which is $510,400 for Barnstable County. We offer a number of financing options for the jumbo loans, with as little as 10% down with no mortgage insurance for borrowers with credit scores of 740 or higher.
With a jumbo mortgage, you’ll get great rates for your big loan. With a choice between fixed or adjustable rates, our jumbo loans offer maximum flexibility for home financing for larger loans.
Got questions? Give us a call! One of our mortgage specialists would be happy to answer all of your questions and get you started with a great low rate on your jumbo loan today!
Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Both of these companies buy mortgage loans from lending institutions and secure them for resale to the secondary investment market.
Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.
The conforming loan limit is $510,400 in Barnstable County. Check the limit for your zip code or ask an expert to find out what financing options are available to you. There are many financing options available if you are interested in a loan higher than $510,400 from jumbo loans to a piggybacked first and second mortgage.