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Jumbo Loan

EMM Loans now offers more flexible guidelines for both primary and secondary homes that make high balance loans more obtainable. This loan can be used to both purchase a new home or to refinance an existing mortgage and lower your monthly payments.

Our doors are opening even wider….

Lower down payments
More cash back
Reduced reserve and credit score requirements

What Is a Jumbo Loan?

A jumbo loan, also known as a non-conforming loan, is a loan that falls above the Federal Housing Administration’s (FHA) conforming loan limit, which in 2021 is $548,250. These loans are designed to help highly qualified borrowers buy more expensive homes.

Highlights

Primary Residence

  • Up to 85% Loan to Value with no mortgage insurance

  • Minimum credit score of 680 including cash-out refinances

  • Cash back up to $500,000 permitted

  • Loan amounts up to 2.5 million

  • Required reserves as low as 6 months

Second Home

  • Minimum credit score of 680 for Purchase or Rate/Term refinance

  • Minimum credit score of 700 for a cash-out refinance

  • Cash back up to $500,000 permitted

  • Loan amounts up to 2.0 million

  • Required reserves as low as 6 months

Benefits of this Program

1

Easier to Qualify

2

Expands the Amount Your Are Able to Borrow

3

Can Help Lower Your Monthly Payments

How Do You Know If You Are Eligible?

The best way to find out if you qualify is to talk to one of our loan advisors. They will consult with your regarding this and other programs you may qualify for.

Our Jumbo Loan Programs