Who is Guaranteed Rate?
We’re one of the largest retail mortgage lenders in the nation, funding $23 billion in home loans during 2016. We aim to win your trust and your business through a genuine desire to serve you, evident by our 95% customer satisfaction*.
- A low, low rate on the right mortgage product, along with transparent, fair fees.
- Technology that streamlines the mortgage process and simplifies each step.
- Unmatched service and expert advice to help you find the perfect mortgage.
What is a jumbo mortgage loan?
Jumbo loans are necessary when the loan amount needed is over the 2018 conforming limit of $453,100 or $679,650 in high-cost areas such as Los Angeles, New York City, and San Francisco. If you're unsure of what the conforming loan limit is in your area, you can submit the form above to have one of our Loan Officers get in contact with you.
Jumbo loans with Guaranteed Rate
Jumbo loans generally require more stringent credit guidelines and a larger down payment than conforming loans. While other lenders will require a down payment as high as 30 percent, Guaranteed Rate's Flex Power jumbo loan program offers 10% down payment options on loans up to $3 million.**
Other benefits include:
- Interest only mortgage options up to $3 million with 15% down.
- Non-warrantable condo options up to $2 million with 20% down.
- No private mortgage insurance
- As little as six months of reserves required
Qualifying for a Jumbo Loan
Below are two general guidelines to help you know if you might qualify for a jumbo loan. When in doubt, ask a loan officer about your unique situation.
- Most jumbo loans require a debt-to-income ratio (DTI) of 43% or lower.(Your DTI can be calculated as your monthly debt obligations divided by your monthly earnings.)
- Most lenders will require a credit score of 680 or greater depending on the size of your down payment.
Why Guaranteed Rate?
Our 95% customer satisfaction rating is no accident. Guaranteed Rate was founded in 2000 on the principles of low, low rates, excellent customer service and innovative technology—principles we abide by to this very day. Apply Now—we’d love to help you find a jumbo loan for your dream home!
*95% Customer Satisfaction: Data Source: Guaranteed Rate’s Client Satisfaction Surveys (Averaged 2007-2016)
**30-year fixed rate or 7/1 ARM loan products only. 43% debt-to-income (DTI) required.
Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and visit www.rate.com/restrictions for more information.
Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.