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Alaska Home Loans - Jumbo Mortgages

• Jumbo mortgages are categorized as loans in excess of $322,700.00 for single-family residences
• Fixed rate loans always vary in price between conforming and jumbo loan amounts although some adjustable rate mortgages have much higher limits prior to altering the pricing
• Available up to 4 million dollars
• Construction, purchase, refinance or refinance with cash-out O.K.
• We are luxury home specialists!
  

The interest rate on our Jumbo Mortgages are nearly as low as our conventional Mortgages. Another way to get the best rate is to consider an Adjustable Rate Jumbo Mortgage. These are frequently much lower, depending on short term rates. Jumbo Mortgages are our specialty!

A Jumbo Mortgage is a mortgage with a loan amount above conventional loan limits. Jumbo Mortgages apply when agency (FNMA and FHLMC) limits don't cover the full loan amount. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase the bulk of residential mortgages in the U.S. They set a limit on the maximum dollar value of any mortgage which they will purchase from an individual lender. Currently, this limit is $322,700. This leaves a portion of the market to look elsewhere for placement. Other large investors, such as insurance companies and banks, step in to fill the need with maximum mortgage amounts going to the $1 million or $2 million range. The average interest rates are typically greater than normal for conforming mortgages, and vary depending on property types and mortgage amount.