Jumbo loans offer large amounts of money to well qualified borrowers. A jumbo loan is structured to allow a borrower to purchase or refinance a sum greater than $484,350. Security Mortgage Lending has negotiated many Jumbo and Super Jumbo loans for their exceptionally well qualified clients. Apply now or read more about the Jumbo loan or Super Jumbo mortgage.
A jumbo loan is a loan that exceeds the conforming loan limits set by the office of Federal Housing Enterprise Oversight (OFHEO). This limit is currently set at $417,000. Jumbo loans are often secured by institutions other than Fannie Mae or Freddie Mac. These securities carry more credit risk than those issued by Fannie Mae or Freddie Mac, and therefore Jumbo loans will have a slightly higher interest rate. However, in recent years the spread in interest rates between jumbo and conventional mortgages has been reduced.Security Mortgage Lending has a large network of wholesale lenders that can lend from $2,000,000 up to $5,000,000. Not matter what your loan size is we can find the perfect program for your needs.
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