Sonoma Home Loans
Your dream of owning a luxury home can become a reality. Jumbo loans give you the freedom to acquire home financing outside the areas conforming limits used by Fannie Mae- or Freddie Mac-backed conventional loans. Potential buyers who meet the eligibility requirements can enjoy the opportunity to borrow enough funds to finally attain significant life goals like purchasing the home of their dreams.
We at Sonoma Home Loans know finances are not a one-size-fits-all product; there are several home loan options. Our knowledgeable professionals can provide you with the details you need to decide the best choice for your lifestyle. You can choose between fixed-rate, adjustable-rate, and interest-only mortgages just as you can with conventional loans. Jumbo loans will sometimes even provide highly-qualified buyers with unlimited borrowing availability. You may also have additional possibilities, such as enrolling in a program with a >80% LTV with no mortgage insurance needed, with a maximum LTV of 90%.
Many factors go into deciding on the best mortgage solution for you specifically. In addition to determining the best way to afford a new home, you must first explore all your options. Well-qualified borrowers have a substantial income history, low debt-to-income (DTI) ratio, a 10-20% down payment, and enough cash funds or assets to cover at least six months of mortgage payments. We at Sonoma Home Loans can review the eligibility requirements for these loans with you. We can also often help our well-qualified clients borrow the money they need without sacrificing the lower interest rates associated with conventional loans. Together, we can determine if a jumbo loan is the best alternative for your financial situation and desires.
We only succeed when you achieve your ambitions. One of the wonderful things about jumbo loans is you can avoid the hassle of applying and being approved for two different conforming loans. Better yet, you will only have to keep up with a single mortgage payment each month. We commonly help our clients decide if jumbo loans can benefit them financially. For example, if you are remaining in your current home, you may have the option of refinancing it at a lower interest rate. Additionally, you can retrieve unlimited cash in some cases, empowering you to reach new heights. We are committed to seeing you succeed, so let one of our licensed loan officers guide you on the path to prosperity.
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