Getting a Jumbo Mortgage

As part of the interview with Senior Loan Officer Jim O' Malley, we asked him about Jumbo mortgages. In some states like Massachusetts, the jumbo level begins at $523,750. Over that limit, it becomes much harder to get a loan. You must have at least 25% down, 6 months of reserves, and a FICO score over 720.

As part of the interview with Senior Loan Officer Jim O' Malley, we asked him about Jumbo mortgages. In some states like Massachusetts, the jumbo level begins at $523,750. Over that limit, it becomes much harder to get a loan. You must have at least 25% down, 6 months of reserves, and a FICO score over 720.

This may vary by state so be sure to look up your state's conforming loan level.

 

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