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Jumbo Loan - Brian Sewell - Woodridge, IL

Brian Sewell
NMLS# 212085
Woodridge, IL Branch Manager
Brian Sewell, Loan Officer in Woodridge, IL
Brian Sewell
Go to Brian's PageBrian Sewell, Loan Officer in Woodridge, IL
3311 Hobson Rd
Ste B
Woodridge, IL 60517
US
NMLS# 212085
Licensed to originate: IL, IN
Day of the WeekHours
Mon8:00 AM - 6:00 PM
Tue8:00 AM - 6:00 PM
Wed8:00 AM - 6:00 PM
Thu8:00 AM - 6:00 PM
Fri8:00 AM - 6:00 PM
SatClosed
SunClosed

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About Jumbo Loans

Jumbo loans provide an opportunity for buyers to finance luxury homes or properties in hot real estate markets. A jumbo loan is a type of mortgage that exceeds limits set by the Federal Housing Finance Agency (FHFA). You can look up current limits on the FHFA’s website. Loan limits vary by county and state, and can change annually, so it’s important to understand the limits for your area.
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How to Qualify for a Jumbo Mortgage

Non-traditional loan terms

High Loan Limits

Low Interest Rates

Jumbo loans require the lender to take on greater risk because of the amount of capital involved, as well as the more limited market potential of buyers. As such, many lenders have stricter qualifications. Some of the most common qualification requirements for jumbo loans include higher down payment amounts, a higher credit score, and a stronger debt-to-income ratio than other types of loans. You’ll also need to provide more documentation if you are self-employed or have varying sources of income. Additionally, your lender will want to look at how much cash you have on hand to ensure you have an available reserve of mortgage payments available.

Loan limits in Woodridge, Illinois

Non-conforming loans are used when the loan amount is above the conforming loan limit for the property’s area. You can look up the conforming loan limits for your area.
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Frequently Asked Questions