Jumbo loans are for borrowers buying larger homes who need to finance more than $417,000. They usually require a 20% down payment and a higher credit quality. They typically have different underwriting guidelines and slightly higher interest rates than conventional loans. However, they are a solution for customers who need to borrow a larger dollar amount to get their dream home.
At Bank SNB, we offer both fixed-rate and adjustable-rate jumbo loan options, with terms of either 15 years or 30 years. Our experienced mortgage loan experts can assist you in finding the right financing options and terms to fit your financial needs, and help take the complexity out of the loan process.
Whether you are considering purchasing a new home or deciding if it’s the right time refinance, use our calculators to help you make your decision. Explore our helpful resources to answer many of your mortgage questions, or talk with one of our loan officers to determine the mortgage that’s right for you.