If you’re looking for a jumbo mortgage to purchase real estate in Las Vegas, NV, Blackmon Home Loans can help you. Sometimes, conventional loan amounts simply aren’t enough to secure the ideal home for your family. A jumbo mortgage may be the perfect option to get you the luxury house you want before it vanishes from the highly-competitive Las Vegas real estate market.
Jumbo Mortgages Explained
Jumbo mortgages are a type of home loan that allows you to exceed the borrowing limits set by the Federal Housing Finance Agency. They are riskier than conventional mortgages because they create more debt. Still, they can be an excellent option for people with larger incomes buying a home in a competitive market or who intend to purchase a high-value property.
- Designed To Finance Luxury Properties
- Great For Highly Competitive Real Estate Markets Like Vegas
- For Primary Homes, Investment Properties & Vacation Homes
- Fixed & Adjustable Rates Available
- Increasingly Competitive Interest Rates
Who Can Qualify For A Jumbo Home Loan?
Most lenders have strict requirements for jumbo loans because these are riskier than other types of loans. They are generally a good option for households that make between $250,000 and $500,000 per year, have very little debt, and have high credit scores. A jumbo loan may be a good option for you if:
- Your credit score is above 700.
- You have a down payment of at least 20%.
- Your debt-to-income ratio is below 43%.
- You make at least $250,000 per year.
- You have 6 months’ worth of mortgage payments in savings.
- You have additional liquid assets and emergency savings.
Jumbo Home Mortgage Lenders In Las Vegas
Don’t let the ideal investment or Vegas Valley family home pass you by. At Blackmon Home Loans, we want to help you secure the funding you need to purchase your Las Vegas dream home with a jumbo mortgage. Contact us to learn more about our real estate loan options and apply today.