Jumbo Mortgage Programs

For affluent home buyers who need a loan, our jumbo mortgage and super jumbo home loan programs are a super option! Whether you're in Texas or California, Colorado or North Carolina, 1st Continental Mortgage offers a range of jumbo mortgage and super jumbo home loan programs that are geared for all financially secure professionals who want, not just any house, but a home that represents their success, tastes and lifestyle.

The super jumbo/jumbo mortgage programs are designed specifically for affluent homeowners and home buyers who enjoy the luxury that a high-value home represents. This means that the homes value and financing requirements actually exceed normal conventional loan amounts offered in the traditional mortgage market.

1st Continental Mortgage offers homeowners and home buyers of Jumbo value homes, comparable rates and program options to our conventional conforming loan programs. With the traditional increase in the value of housing, the jumbo mortgage and super jumbo home loan amounts are typically recalculated annually.

Our product range for Jumbo and Super Jumbo Loans includes:

• Traditional Terms - 30, 20, 15 Year Fixed Rate Notes
• Adjustable Rate Mortgage - 3/1, 5/1, 7/1 and 10/1
• Refinance Loan Terms
• Interest Only Options
• and Specialty Loan program such as state/stated, no ratio and no doc.

Exceptionally high dollar amounts does not mean you need to be saddled with paying a high rate of interest. At 1st Continental Mortgage we work hard to keep your rate of interest low. Due to the nature of the super jumbo home loan and the jumbo mortgage product risk, rates can be slightly higher than the conventional, Fannie Mae conforming loans. On the average, interest rates of jumbo mortgages are typically only about an 1/8th or 1/4th of a percentage point higher than the traditional conventional mortgage loan programs. For example, if a traditional 30 year fixed rate loan has an interest rate of 6%, a jumbo or super jumbo mortgage rate of interest will be right around 6.125% or 6.25%. Not bad Vs. the added risk a lender assumes.

It's important to understand that there is no regulation in place regarding the rate of interest for jumbos! The lender and the market risks really are what define the jumbo loan interest rates. Working with 1st Continental Mortgage to secure a super jumbo home loan, or your next jumbo mortgage, means we're going to work VERY hard to get you the best rate and terms that meet your financing objectives. Talk to us today to learn more about our financing options for your jumbo loan.

Finally, due to the fact that the jumbo mortgage can be a borderline product, in some instances we are able to assist some home buyers and homeowners in avoiding being tagged as a 'jumbo borrower'. Depending upon the circumstances, 1st Continental Mortgage can allow you to take out two loans at the same time, the first mortgage for the bulk loan amount and the second that works in tandem with the first. This is referred to in the mortgage industry as a "Piggyback Loan". The interest rate on the 2nd loan will be higher but can be paid off faster, thereby avoiding the jumbo rate on the 1st loan. This is what we call jumbo savings! Find out more about how 1st Continental Mortgage can help you finance your next jumbo or super jumbo property!