A Jumbo Home Loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, making it ideal for financing luxury homes or high-priced properties. These loans typically require strong credit, a larger down payment, and higher income qualifications, but they offer competitive rates and flexible terms for buyers looking to purchase above-standard loan limits
Jumbo loans have stricter eligibility requirements compared to conforming loans. To qualify for a jumbo loan, you typically need a higher credit score, a lower debt-to-income ratio, and a larger down payment. Lenders may also require additional documentation, such as income verification and asset statements.
Finance luxury homes or high-value properties that exceed conventional loan limits.
Despite being larger loans, jumbo mortgages often offer competitive rates for qualified borrowers.
Options for fixed or adjustable rates, allowing buyers to choose what fits their financial goals.
A jumbo loan is the right option when you're purchasing a high-priced home that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. It's ideal for buyers with strong credit, stable income, and the ability to make a larger down payment, as these loans require stricter financial qualifications. If a conventional loan isn’t enough to cover your home purchase, a jumbo loan provides the flexibility to finance luxury or high-value properties while still offering competitive interest rates and customizable terms.
Ed Fussell NMLS #309042
Mercantile Mortgage Corporation, a div of Bankers Residential Mortgage Corporation
NMLS #1657876
Mercantile Mortgage
1401 N. CENTRAL EXPRESSWAY SUITE 100
Richardson, TX 75080
Company Phone:
(972) 661-9988
Operation Manager Cell:
(972) 333-9914
Bankers Residential Mortgage Corporation DBA Mercantile Mortgage Corporation is an equal housing lender. This is not a commitment to lend or extend credit. Programs, rates, terms and conditions are subject to change without notice. Terms and conditions apply. All rights reserved. Contact us for details. Consult your accountant about tax deductions.
complaints.or.concerns@MercantileMortgage.com
NMLS Consumer Access http://nmlsconsumeraccess.org/
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
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