Is a Jumbo Mortgage Right for You?

Is a Jumbo Mortgage Right for You?

Learn more about jumbo mortgages in Easton, Fairfield or Stamford CT

Are you purchasing or refinancing a home? It's extremely important to choose the right mortgage that will save you the most money in the long run. If you make a hasty or uneducated decision, you could end up regretting it and even lose money.

When you rely on the loan specialists at PFS, Inc., you won't feel overwhelmed during the loan application process. Whether you opt for a jumbo mortgage loan or a fixed-rate loan, you'll feel confident in your decision. While jumbo mortgages may not make sense for some, they are a prime choice for others.

Contact PFS, Inc. in Easton, Fairfield or Stamford CT today to find out if a jumbo mortgage loan is right for you.

Who can benefit from a jumbo mortgage loan?

Jumbo mortgages are ideal for individuals with a substantially higher loan amount. Whether you are refinancing or purchasing for the first time, a jumbo mortgage loan is a good option when the loan amount exceeds a threshold of $679,650.

Qualifying for a jumbo mortgage loan is a little more challenging, so it's important to know ahead of time what's expected. Jumbo mortgages require:

  • A credit score of at least 700, sometimes 720
  • A substantially low debt-to-income ratio
  • Proof of hefty cash reserves to cover payments
  • Extensive documentation to support your finances
  • An additional home appraisal in some situations
If you're not sure if a jumbo mortgage is right for you, contact us today to speak with a loan specialist in Easton, Fairfield or Stamford CT.