Jumbo Loans

Jumbo Home Loans

for high-value homes

Jumbo home loans are the way to finance a purchase with a value above federal standards. The conventional conforming loan limit is $484,350. For a home with a purchase price above this limit, a jumbo loan is needed.

It’s true that a jumbo home loan might be the route to go if you were trying to buy a castle, but in some areas with high housing costs a jumbo loan might be needed to purchase a relatively modest house. Elite Mortgage can help the whole spectrum of these customers.

General Loan Limits for 2019

The general loan limits for 2019 have increased and apply to loans delivered to Fannie Mae in 2019 (even if originated prior to 1/1/2019).
Refer to Lender Letter LL-2018-05 for specific requirements.


Maximum Loan Amount for 2019


Units Contiguous States, District of Columbia, and Puerto Rico Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $484,350 $726,525
2 $620,200 $930,300
3 $749,650 $1,124,475
4 $931,600 $1,397,400

Maximum Loan Amount for High-Cost Areas for 2019

+A number of states (including Alaska and Hawaii), Guam, Puerto Rico, and the U.S. Virigin Islands do not have any high-cost areas in 2019.

Units Contiguous States, District of Columbia+ Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $726,525 Not Applicable
2 $930,300 Not Applicable
3 $1,124,475 Not Applicable
4 $1,397,400 Not Applicable


2019 Loan Limits Overview

  • Loan limits increased for all but 47 counties across the country, including Alaska, Hawaii, Guam, and the U.S. Virgin Islands.
  • In those 47 counties, the limits remained unchanged.
  • Loan limits did not decrease anywhere in the US and its territories.


THE ADVANTAGES OF A JUMBO HOME LOAN

Using a jumbo home loan allows you to avoid making an enormous down payment to reduce your balance to a conforming level. While a higher interest rate usually comes along, the convenience is worth it.

To learn more about jumbo home loans, please contact a Elite Mortgage experts. Our team is at your disposal.

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ANTHONY EDWARDS
From beginning to end, they were informative, extremely thorough and attentive to our financial needs, thus making sure that we were getting the best deal possible. We enjoyed working with them and would recommend Elite Mortgage to anyone.
ANTHONY EDWARDS
Client
From beginning to end, they were informative, extremely thorough and attentive to our financial needs, thus making sure that we were getting the best deal possible. We enjoyed working with them and would recommend Elite Mortgage to anyone.
ANTHONY EDWARDS
ANTHONY EDWARDS
Client
CHARLOTTE COOPER
My husband and I had a wonderful experience working with Elite Mortgage in refinancing our home mortgage. They gave brilliant service and always kept me informed of what was happening and at what stage my application was at.
CHARLOTTE COOPER
Client
My husband and I had a wonderful experience working with Elite Mortgage in refinancing our home mortgage. They gave brilliant service and always kept me informed of what was happening and at what stage my application was at.
CHARLOTTE COOPER
CHARLOTTE COOPER
Client
JAYDEN MOORE
I was given the best advice, support, and help. All in all, I really couldn't imagine my home-buying process being any easier. Even now that the deal is done I would still feel 100% comfortable calling Elite Mortgage with any questions.
JAYDEN MOORE
Client
I was given the best advice, support, and help. All in all, I really couldn't imagine my home-buying process being any easier. Even now that the deal is done I would still feel 100% comfortable calling Elite Mortgage with any questions.
JAYDEN MOORE
JAYDEN MOORE
Client
LISSA DURBIN
I am extremely excited and happy that everything has gone well! I just want to write a quick note to let you know how much I appreciate all the help that you have given me for the past weeks with the process of my conventional loan.
LISSA DURBIN
Client
I am extremely excited and happy that everything has gone well! I just want to write a quick note to let you know how much I appreciate all the help that you have given me for the past weeks with the process of my conventional loan.
LISSA DURBIN
LISSA DURBIN
Client

Loan Types