jumbo-loan
FDIC – Insured – Backed by the full faith and credit of the U.S. Government GO BIG WITH JUMBO LOANS SO YOU CAN GO HOME Realize the home of your dreams with a Texas-sized mortgage from a trusted Texas lender. APPLY NOW APLICA AHORA “Everyone I spoke with at SouthStar was very helpful and willing to assist me! I had talked to a couple other banks and not received a good response, so calling SouthStar was such a relief. They were super responsive in getting me an account set up and helping me with a loan. Would definitely recommend using SouthStar!” ~ Kristi H. Big Financing For Big Homes. Will your dream home cost more than $548,250? Jumbo loans give you the financing you need to transform your dreams into reality. SouthStar bank will help you qualify, and ensure you get the most favorable rates and terms for your financial situation. Why Choose A Jumbo Loan? Finance the luxury property of your choice. Choose between a variety of mortgage terms. No Fannie Mae or Freddie Mac restrictions. Enjoy tax breaks on up to $750,000 of mortgage debt. Get More Details Please complete the form below and one of our personal bankers will be in touch. Credit Score, Cash Flow, DTI and Other Financial Requirements for Jumbo Loans Most jumbo mortgages have standard options like 30-year fixed-rate mortgages, Adjustable Rate Mortgages (ARM) and in some cases Interest Only options. More specifically, your credit score must be above average, and your DTI (debt to income ratio) must be no higher than 43%.If you’re self-employed, there are additional financial requirements. Since you won’t have any W-2s, self-employed borrowers are required to produce two years of tax returns and at least sixty days of bank statements.To prove sustainable cash flow, the buyer must possess liquid assets and in many cases six months’ worth of cash reserves that equal the mortgage payment. A Texas-Sized Mortgage From a Trusted Texas Lender At SouthStar bank, we honor our 100-year Texan heritage by focusing on community values, personal relationships, and flexible, common-sense lending. Our experienced professionals are ready to help you meet your home ownership goals, no matter how ambitious they are. Contact us today to get started. Because jumbo loans occupy more of a niche market than traditional home loans, they have unique regulations and tax implications. Also, because these mortgages are considered higher risk, they have more rigorous underwriting procedures. However, because they offer higher risk, jumbo loans can potentially offer higher benefits. For example, since lenders have more to gain from these loans, they can also afford more services to ensure the buyer’s financial safety. Another benefit is that you aren’t restricted by Fannie Mae or Freddie Mac. Jumbo Mortgages: The Right Move if You’re in the Right Position If you’re considering a jumbo loan, it’s important to remember that it is a major investment. As with any investment, there are risks to understand and evaluate in relation to your goals. Choosing to buy a […]
