Jumbo Loans With A Lower Down Payment

A loan that is above conventional conforming loan limits is called a jumbo loan. Fannie Mae and Freddie Mac set this limit at $726,200 (as of 2023).

The two government-sponsored entities purchase loans from lenders, but if a loan amount is higher than the conforming loan limit, then neither of them will purchase that loan.

Typically, both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other lenders, freeing up liquidity to lend more mortgages.

To sum it up, a jumbo loan is one with an amount more than $726,200. Florida Mortgage Firm offers jumbo loans with a lower amount for a down payment.

Interested in getting approved for a jumbo loan? Take the next step below.

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“We would like to thank Stephanie and the team who definitely exceeded our expectations. They were easy to communicate with, timely, professional, and knowledgeable, and they completely answered all our questions. We secured our loan in an easy manner with easy terms of repayment. Kudos to the Florida Mortgage Firm.”

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