Jumbo Loan
A jumbo loan*, a type of non-conforming loan, is a home mortgage that allows financing for loan amounts that exceed the conforming maximum of $453,101 (depending on what area of the country you’re in, loan amount may vary). Since home prices for larger or luxury homes can often surpass this amount, this loan might be perfect for the house of your dreams.
A jumbo loan is your best (or only) option if you need to borrow between $453,101 and $3,000,000 for a home purchase or refinance. Jumbo loan rates can be higher, lower, or the same as conforming loan amounts.
With the fluctuating market, jumbo home mortgage loans do call for stricter requirements than in years past, but still follow a similar process of a typical loan. You will generally need a 10-20% down payment and will be able to potentially receive lower fixed or adjustable rates offering flexibility for financing with a bigger loan.
*Eligibility subject to program stipulations, qualifying factors, applicable income requirements, and property limits. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
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We are a local mortgage lender and loan service who specializes in mortgage planning and mortgage loans. We love working with both home buyers and real estate agents. We are focused in Lexington and Louisville, but proudly serve all of Kentucky and the following licensed states: Ohio, Tennessee, Florida, Kentucky, Indiana, and Virginia.
Main Branch 2357 Huguenard DriveSuite 100Lexington, KY 40503
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Peak Residential LendersNMLS Consumer Access
Branch Managers
Eric Kimble & Brent Tye
© Copyright 2023 Peak Residential Lenders | Privacy Statement and Terms of Use | A division of Peak Residential Lenders, Inc. NMLS# 65084 | (www.nmlsconsumeraccess.org) | Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extend credit.
Peak Residential Lenders, Inc. is licensed under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking
Texas Mortgage Banker Disclosure - Figure: 7 TAC 81.200(c) "CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV."
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