随着经济的持续改善, more and more people are taking advantage of the opportunity to get more out of their home loans. This explains the growing popularity of what is called the jumbo loan or jumbo mortgage. 什么是大额贷款? How does it work and is a jumbo mortgage right for you? Here, we'll answer all these questions and more.
什么是大额贷款?
A jumbo loan may only be available to those with exceptional credit. This is because a jumbo mortgage lets the borrower take a larger loan than what the ordinary loan conforming limits will allow. The standard is a framework ad在这里d to by Fannie Mae and Freddie Mac, setting a limit on the standard maximum value of an individual home loan package, and the parameters of a jumbo loan exceed those standards.
Fannie Mae and Freddie Mac are US companies that are authorized by the government to back or guarantee the majority of mortgages taken out in the United States. 简而言之, they are financial service providers who work closely with the federal government on home loans. 它们是行业标准, and their job is to remain within the limits of that standard, which are described by the Federal Housing Agency.
A conventional mortgage is eligible to be guaranteed, 购买, or audited by Fannie Mae or Freddie Mac. A jumbo loan, on the other hand, is larger and has higher qualifying requirements. 因为这个原因, when you enter into a jumbo loan agreement, you will be receiving a larger loan than you normally would, and the qualifications are higher than with normal loans.
巨额贷款是如何运作的?
普通贷款限额为647,200元. If you would like to buy a home that costs more that than you will need to qualify for a jumbo mortgage. The qualifications are more stringent, 但如果你有资格, and you have the ability to manage it, a jumbo loan could be a fantastic option.
These types of loans are also known as non-conforming loans because they exceed the usual perimeters of ordinary loans. If you enter into an ordinary loan, it will be backed by the FHA, Fannie Mae, or Freddie Mac. Jumbo loans do not enjoy that level of security, which is why those who take them must meet stricter qualifying standards.
A jumbo loan is an agreement between you and your financial service provider. They are not protected by government sanctioned entities in the event that the borrower defaults. More often than not, a jumbo loan will come with a fixed or adjustable interest rate.
大额贷款是多少?
The most frequent limit on conforming loans is $647,200 but can go as high as $970,800 in some areas.
如上所述, those who qualify can take advantage of adjustable or fixed rates with a number of options. Jumbo loans have higher interest rates, but not drastically so. In fact, the rate increase between a jumbo and an ordinary loan is between .25%和1%.
The most important qualifying factor is going to be the ratio of your debt compared to your income (DTI). To qualify for a jumbo mortgage, you will need a DTI of 45% or better.
如何申请巨额贷款
To qualify, you will need a higher-than-average credit score. You will need to show a solid employment history and some savings on hand. Your debt-to-income ratio will be considered, and you'll need to make a down payment.
That done, you will gather the pertinent documents, contact your lender, and prequalify. Then, you simply wait for your application to be approved and close the deal on your new home.
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