Jumbo Loans are loan amounts that exceed the conforming lending limit set by Fannie Mae and Freddie Mac .
A Jumbo Loan is ideal for homebuyers who prefer a single loan to accommodate the purchase of a higher value home. MidCountry Bank offers both fixed-rate and adjustable rate (ARM) Jumbo Loans allowing for greater payment flexibility.
Benefits of a jumbo loan
- Gives borrowers an option for loan amounts exceeding the conforming lending limit
- Fixed-rate option for borrowers who intend to remain in their new home long term
- Adjustable rate option for borrowers who prefer an initial payment that may be lower than fixed-rate options or who intend to live in their new home short term
- One loan - no need to obtain multiple loans for the purchase of a higher value home
Minimum and Maximum loan amounts apply. Rates and programs subject to change at any time. Loans subject to borrower qualifications, property evaluation and credit approval. All rates and program guidelines subject to change without notice based on consumer eligibility and marketing conditions. All loans subject to credit approval and compliance with underwriting standards.
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