Jumbo Loan - Richard Breedon - Indianapolis, IN

Richard Breedon
NMLS# 132844
Indianapolis, IN Loan Originator
Richard Breedon, Loan Officer in Indianapolis, IN
Richard Breedon
Go to Richard's PageRichard Breedon, Loan Officer in Indianapolis, IN
8310 Allison Pointe Blvd
Ste 104
Indianapolis, IN 46250
US
NMLS# 132844
Licensed to originate: IN
Day of the WeekHours
Mon8:00 AM - 5:00 PM
Tue8:00 AM - 5:00 PM
Wed8:00 AM - 5:00 PM
Thu8:00 AM - 5:00 PM
Fri8:00 AM - 5:00 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 Indianapolis, Indiana

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