Looking for a jumbo mortgage? Look no further, we have the mortgage program
you're looking for.
For over seventeen years, we have helped thousands of Coloradoans just like you.
The conforming loan limit is the maximum loan size that either Fannie Mae or
Freddie Mac will commit to purchase from a mortgage lender for the
financing of a home. Once a lender funds your loan, the loan is sold and in
most cases ends up being purchased by Fannie Mae or Freddie Mac. Once the
money is exchanged, the lender's funds are available to lend again.
When a Loan Becomes a Jumbo
 When a loan amount
exceeds the conforming loan limit, currently $417,000, it is
considered a Jumbo Loan, or non-conforming loan. With the historically low mortgage rates
that the market has
been experiencing that past four years, jumbo loans allow many home buyers the
ability to purchase the house they want and at a payment they can afford.
When a Loan Becomes a Super Jumbo
Many lenders have maximum lending limits of $650,000, $1,000,000 or
$1,500,000. The term "jumbo loan" is applied to anything above the
conforming limit of $417,000 to the lender's maximum lending limit. Loan
amounts above the limits mentioned above limits can be considered
"super" jumbo loans. The maximum loan limit for super jumbo loans
often
extends to $10M to $20M. Super jumbo loans above $1M often require multiple
appraisals and the borrower's liquidity becomes a more important factor in
approving the loan request.
Call Colorado Western Mortgage Corporation today to structure your jumbo loan
request with the lowest rates and most appropriate monthly payment.
To get started fill out our "Quick Application" or
"Contact Us" or call us immediately at 303-786-7575 or 1-800-DENVER, CO today.
At Colorado Western we're standing by to assist you!!!
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