90% financing and low Jumbo Home Loan Rates on Jumbo Loans in Pitkin County CO Are you looking for a Jumbo Mortgage lender in Pitkin County CO?http://bit.ly/1gl2QuT

It's a great time to take advantage of the jumbo mortgage program. We specialize in helping luxury home buyers who need higher balance jumbo mortgage financing.

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.These counties allow for "conforming" rates above $417,000 and up to the county limit.http://bit.ly/18Fm3DU

Are home loan rates higher on jumbo mortgages in Pitkin County?

Not necessarily! Currently, we have jumbo rates available that are lower than traditional mortgages. Until recently, jumbo rates were higher and sometimes much higher than conventional rates. 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 qualifying guidelines for a jumbo home loan in Pitkin County CO?

Jumbo home loans can be more difficult to obtain than conforming loans. The first requirement is that you must have good credit. Your credit score must be above 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 must also be counted in the loan-to-value ratio. Debt-to-income are generally capped in the 41-43% maximum range. Income must be documented through tax returns and/or W2s. Pitkin County Jumbo mortgages are only for primary residences and second homes. No investment properties!

What kind of home loans can you get with a Pitkin County Jumbo loan?

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 loan home buyers and can also help you refinance your jumbo loan.

Call us in the office for a fast response and to get a customized Pitkin County CO Jumbo Loan quote! http://www.rjbaxter.com/