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Jumbo Mortgage Loans in short:
At Bank of England Mortgage, our specialty is funding the dream of homeownership - no matter the size of the loan or dream
For that matter that's why we created our jumbo mortgage lending program - a full suite of offerings designed with the needs of borrowers that seek larger loan amounts than were available through traditional lending options.
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Similar to conventional mortgages, jumbo loans can be obtained at a 30, 15 fix rate or adjustable rate term of 3/1, 5/1, 7/1 or 10/1 ARM. The interest rates on a jumbo loan are slightly higher due to the added lender/bank risk. However, the interest rate gap has been decreasing as the housing market continues to stabilize and available liquidity returns.
No PMI (Monthly Mortgage Insurance) requirements
Both 80/15 combo loans and single 95% LTV jumbo loan offered – along with an array of 90%, 10% down payment options.
FHA 203(h) loans offers several features that make homeownership easier including no required down payments, up to 100 percent financing.
