Jumbo Loans

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. For most areas in Washington State that is $417,000. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes, and usually require a higher down payment than traditional loans. Presently you need to have 20% down unless the seller is willing to carry a contract for a 2d note.

Jumbo Loans: