Property prices in California are significantly higher than the national average as many communities in California have multi-million dollar homes. Thus California is major market for jumbo mortgage loans. That is why we have a full product line of California jumbo mortgage loans and California super jumbo mortgage loans.
Since the values of California homes are traditionally higher, conforming loans do not always apply and California mortgage companies have to provide alternative financing to meet client demand. The traditional fixed rate and adjustable rate loans are available but the standards are much stricter compared to your average conforming loan. Some of the highest concentration of California jumbo mortgages include: Los Angeles, San Diego, Ventura, Orange County, San Francisco and many other parts of California.
Jumbo Mortgage Options:
At JB Mortgage Capital, Inc. we offer great terms on both jumbo mortgage loans in California and with super jumbo mortgage loans. Our team will work hard to provide the best possible terms wether you’re buying a new home or refinancing a current mortgage. 15 year and 30 year fixed rate jumbo mortgage loans are the most popular terms however we do have adjustable rate options. We will work hard to ensure we locate the best possible mortgage that meets your needs. Call us today for a no cost – no obligation quote and see what we can do for you on your next mortgage transaction. We offer multiple options for people who need a California jumbo mortgage or a California super jumbo mortgage. Understanding all of your California mortgage options will enable you to secure the best possible Super Jumbo home loan. Down payment requirements vary from lender to lender and we can find a program that works for you. It’s also important to know the conforming loan limits so that you can determine if you have a jumbo loan or a conforming loan.
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Important Questions To Ask Include:
- What loan programs do you have?
- What terms do you offer?
- Which California Lenders do you work with?
Lender vs. Broker:
A direct lender vs. a mortgage broker is an important factor as well. Working with a direct lender will limit your options as a mortgage broker hasaccess to multiple solutions. Income documentation is usually required (as of 2011) for California jumbo mortgage loans and California super jumbo mortgage loans because lenders view these loans as a little more risky then a conventional loan. If you’re buying a home, it’s important to pre-qualify before you go out and search for your new home as lending guidelines change frequently.
California Home Loan Tip:
Do you want to pay down your home loan balance faster? No need to sign up with additional services; just make 1-2 extra payments per year and you will take years of your mortgage. There are many companies that want you to think that you need to sign up with a service to pay down your home loan; however that is simply not true. Some lenders do offer the option of paying bi-weekly but if you your lender does not offer it, no big deal. Just make a few extra payments during the year and you’ll achieve the same thing.