Jumbo Loans

Jumbo Loans Don't Have To Have Jumbo Rates

 

Message from Dan Avanzato
President of Norstar

 

 

 


  • Purchase
  • Refinance
  • Cashout Refinance
  • Condo
  • Avoid  PMI
  • Philadelphia Metro Area (call)
  • Self Employed
  • 680 Credit score min.
  • NO Prepayment Penalties

Q & A
What is a Jumbo Loan? A Jumbo loan is a non-conforming conventional mortgage meaning that it exceeds the maximum loan amount allowed on a conforming loan. Fannie Mae and Freddie Mac set the conforming Guidelines/Standards for mortgages and if a loan does not fit into these parameters it is considered non-conforming. The current maximum conforming  loan amount is $417,000

Can I use a split loan with Conforming Mortgages? YES!! A split loan or Piggyback can be used with conforming products and may also allow you to extend your financing beyond conforming products alone.
 
Is a Split Loan Risky?  NO... You may select various mortgage products and mix and match. You may select a 30 yr fixed for the 1st and a 15 yr fixed for the 2nd or you may prefer a 10/1 ARM on the first with a 10 yr fixed on the 2nd to build equity faster.

Give us a call to discuss all your options with a No cost, No hassle Free Quote!

 

 

 



90 % LTV up to 1Million

Norstar Mortgage Services Inc. (NMLS# 137481)
2066 Big Rd, Gilbertsville,
Pennsylvania 19525
Phone: 215-661-1660
Fax: 267-654-1401
Email: Dan@norstarmortgage.com

footer image