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Jumbo Loans.
Down Payments as low as 5% and Loan Amounts up to $3,000,000
Looking to purchase a home or refinance a high-value property? Our Jumbo Mortgage Loans make it possible with down payments as low as 5% and loan amounts up to $3,000,000. Whether you’re a first-time buyer or a seasoned homeowner upgrading to your forever home, we’ve got flexible options to meet your needs.
Jumbo Loan Program Benefits
- Down payments as low 5%
- Maximum loan amounts to $3,000,000
- Both 30-year Fixed Rate and Adjustable-Rate Mortgage (ARM) Options
- Available for purchase, rate/term refinance, cash-out refinance
- Eligible geographic areas include all of Maryland, Pennsylvania, and Virginia
Generic Guidelines
- Loan amount must be $1 more than FHFA Conforming Loan Limits
- Loan Purpose: Purchase, Rate-Term Refinance, or Cash-Out Refinance available
- Down Payment: As low as 5% down for loan amounts up to $1,000,000
- Maximum Loan Amount: Up to $3,000,000
- Minimum Credit Score: 700
- Occupancy Types: Primary residences and second homes only; no investment properties
- Debt-to-Income Ratio: Maximum 45% DTI
- Amortization Options: 30-year fixed or adjustable-rate (5/6, 7/6, 10/6, 15/6 ARMs)
- Reserve Requirements: Vary by LTV and loan amount; up to 18 months may be required
- Property Types Allowed: 1-unit homes, condos (Fannie Mae warrantable), PUDs
- Appraisal Requirements: Full interior appraisal required; field review needed for higher LTVs and loan amounts
