Jumbo Loan Arizona

A conventional loan falls within Fannie Mae’s and Freddie Mac’s loan limits, it is referred to as a Conforming Loan. If the loan amount exceeds the maximum permissible loan amount of these two agencies, then this home buyer program is called a JUMBO, or Non-Conforming Loan.

Conventional lenders typically insist that the borrower put down more than 20% on a JUMBO loan. Interest rates on JUMBO loans in Arizona generally run between 3/8% to 1/2% higher than Conforming Loans. The difference in the interest rate between Conforming and JUMBO loans is higher when mortgage money is not plentiful. The difference typically decreases with the abundance of mortgage money.

Call the MMG Group of Nova Home Loans today to get the best deals on your JUMBO home mortgages. We service greater Phoenix area including Scottsdale, Chandler, Mesa, Tempe, Paradise Valley, Peoria, Gilbert, Cave Greek, Carefree, Glendale, Avondale & Sun City.


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*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.