90% financing and low Jumbo Home Loan Rates on Jumbo Loans in CO http://bit.ly/1gl2QuT

Are you looking for a Jumbo Home Loan in Colorado? It's a great time to take advantage of the jumbo mortgage program. We specialize in helping luxury home buyers who need jumbo financing for the higher jumbo loan amounts.

What is a jumbo mortgage? A jumbo loan in most counties is any loan that is greater than $417,000. There are some "high balance" counties in Colorado and they are listed at the bottom of this article or follow this link to the Fannie Mae County Loan Limits. http://bit.ly/18Fm3DU These counties allow for "conforming" rates above $417,000 and up to the county limit.

Are home loan rates higher on jumbo mortgages in Colorado?http://www.rjbaxter.com/
Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, this has not been the case. Call to obtain a customized quote for your situation as rates can vary according to your scenario and what the market is doing.

What are the guidelines for qualifying for a jumbo mortgage in CO? Jumbo mortgages can be more difficult to qualify for than conforming loans. First of all, you must have good credit. Most lenders have a minimum credit score of 700, and for higher loan amounts, or higher loan-to-value ratios, your score must be above 740. Down payment requirements are as little as 10%, but rates improve with more down payment, generally 20%, 25%, and 30% down will get you a better deal. If you plan to obtain a 2nd mortgage, or HELOC, that loan will also count in the loan-to-value calculation.

Your debt-to-income ratio must also be reasonable, generally capped at the 41-43% maximum range. Income must be documented through tax returns and/or W2s.

Colorado Jumbo financing is also not available on investment properties- primary residences and second homes only!

What kind of loans can you get with a Colorado Jumbo mortgage? Fixed or adjustable rate loans are available. If your down payment is less than 20%, however, only ARMs are available, and they are available in 5 or 7 year terms (fixed for 5 or 7 years).

Colorado High Balance County Limits 2014:

Eagle County: $625,500
Garfield County: $625,500
Hinsdale County: $427,800
Lake County: $625,500
Ouray County: $425,500
Pitkin County: $625,500
Routt County: $625,500
Summit County: $625,500

We specialize in helping jumbo home buyers and can also help with jumbo home loan refinances. Call us in the office 303-670-0137....we will give you a customized CO Jumbo Home Loan quote and honest answers to your questions!