JUMBO LOANS TEXAS

Conventional Jumbo Loans

The FHFA (Federal Housing Finance Agency) has announced that the maximum conforming loan limit in Texas for 2022 is $647,200. But what if the home of your dreams is higher priced? Jumbo Loans Texas options are designed to help property buyers buy a property that exceeds that maximum loan limit.

How Much Can I Afford with Traditional Jumbo Loans?

The $647, 200 loan limit applies to those loans that may be acquired without the necessity of a down payment. It is still possible to purchase a property whose price exceeds that limit, using a Conventioanl Jumbo loan, if the buyer is willing to make a down payment. The amount of the down payment is a percentage of the difference between the $647,200 and the cost of the property the buyer wishes to purchase. Typically, that percentage is 5%. Purchasing a property that exceeds the limit by $100,000, for example, would require a $5,000 down payment.

 

Providing a Second Jumbo Mortgage Option

There is now an alternative to conventional jumbo loans. For 2022, the loan limit ceiling has been raised to $647,200. If a borrower wants to exceed the max conventional loan amount here at Signature Lending Services we are offer a 1st and a 2nd mortgage. This will come as a relief to many property buyers who are looking to purchase high-value homes in Texas. There are several advantages to taking out a second mortgage, such as covering part of the down payment on the first mortgage.

Contact US

For general information or to set up an appointment please complete the form below or give us a call.

SIGNATURE

15851 Dallas Pkwy, Ste 600 Addison, Texas 75001

Recent Posts