You want to purchase your dream home and it’s outside the limits of conventional lending. Your unique income means you need a jumbo mortgage (otherwise known as a jumbo home loan) that requires special attention.
You own multiple investment properties and you want your transaction to be seamless.
You are wondering if you can use your restricted stock units (RSUs) in a home loan.
You’ve got a lot of questions about how your complex financial situation affects your home loan goals.
The truth is: unique income means unique home loan lending. You need an incredible team and personalized care to get a non-conforming loan for your dream home.
Our team of mortgage experts has arranged over $1.5 billion dollars in jumbo home loans in the last decade alone. We know it can be overwhelming to navigate your options with private lenders.
That’s why we want to share what we know with you.
Here’s what you need to know about jumbo mortgages: requirements and how to take the next steps towards your dream home in confidence.
What is a Jumbo Mortgage?
Jumbo home loans are mortgages that exceed conforming lending limits (currently $548,250 but up to $822,375 in high-balance counties), or that don’t meet conventional lending guidelines.
Rising home values make multi-million-dollar, super jumbo loans more common across the nation. Conventional loan options don’t make space for alternative forms of income and conforming lending channels can’t work with you to get you what you want.
Structuring and closing super jumbo mortgages requires specialized attention, and with our experience in closing these loans, we see it all.
Do You Need a Jumbo Mortgage?
If you are reading this, the answer is probably yes. Here are a few markers of whether or not this route of home loan lending options makes sense for you:
- You want to work with a pragmatic mortgage adviser who will value you as an individual and work with you to achieve your investment goals
- You are self-employed, own a business, or hold shares of a corporation
- A significant percentage of your income comes from Restricted Stock Units (RSUs)
- You make a living investing in residential and commercial properties
- Your real estate portfolio is growing and you want personalized expert analysis
- You have a unique income structure and want the ability to tackle many moving parts
If any of these situations are familiar to you, you most likely need a jumbo mortgage.
What Do You Do Next?
You need to speak to an expert!
We get it: jumbo and super jumbo loan options feel complex and you want to be efficient in finding your future mortgage partner.
Just as your income is complicated, the process of a jumbo home loan can be overwhelming if you don’t have experience navigating the requirements for a jumbo mortgage.
There is a lot to be considered: credit score, debt-to-income ratio, cash reserves, other alternative income, documentation, appraisals, and more.
You really need a team of experienced mortgage experts to assess your situation and handle your jumbo home loan personally.
At Carlyle Financial, we make the process smooth and easy. We handle your complex jumbo and super jumbo needs with expertise so your home loan experience is seamless and you get the best rates around.
If you’re ready to talk about a customized loan option, get in touch with one of our mortgage experts today.