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Los Angeles County Jumbo Loans

What is a Jumbo Home Loan?

Loans with larger limits than those set by Fannie Mae and Freddie Mac are called jumbo loans. Because jumbo loans are not funded by government sponsored entities, they usually carry higher interest rates and some additional underwriting requirements.

Bankers Group Jumbo Loan Programs

We can do refinance or purchase loans up to $20,000,000. The combined loan to value can be as high as 90% of the appraised value.

We have no seasoning requirements on your ownership of the property if you are refinancing. In other words, if you bought the property yesterday, as long as it appraises, we can get you up to 90% of that appraised value with cash back.

So why is a home loan in the mid $400's considered a jumbo loan? Each year, a new "conforming loan limit" is published by Fannie Mae and Freddie Mac. The conforming loan limit, or "jumbo loan amount" is determined every January. The 2006 jumbo loan limit for single-family homes and condominiums is $417,000.

The conforming loan limit is the maximum loan size eligible for purchase by either Fannie Mae or Freddie Mac. These organizations purchase the underlying securities from mortgage originators. The funds are reinvested into new mortgages, and so the flow-of-funds cycle continues.

For more information Call Dorothy Reik at: 818-226-6100.

APPLY NOW

Dorothy Reik

818-226-6100

Likely before you came to Bankers Group, you were shopping around for a home loan in Los Angeles County to help you get the best financing deal on the market.

A mortgage ￿ whether it's a home purchase, refinancing, or home equity loan ￿ is a product just like a car. So, the price and terms may be negotiable. Shopping, comparing, and finding your way to Bankers Group may have saved you thousands of dollars.

Bankers Group is a mortgage broker center working in the Los Angeles County area. As brokers, we arrange transactions rather than lending money directly. In other words, we find a lender for you. Our access to several lenders translates to a wider selection of loan products and terms from which you can choose.

Maybe you were searching the Internet for a way to refinance your existing los angeles county home loan. Because refinancing involves many of the same steps you followed to get your current mortgage, the refi road may seem familiar. You may, however, face a few additional steps and different types of expenses.

To refinance means paying-off your current mortgage and taking out a new loan.

Homeowners opt to refinance for a multitude of reasons, but the most common is obtaining a lower mortgage interest rate to lower monthly payments. However, some other popular reasons to seek out a refinancing solution are building equity faster, changing a loan type to taking advantage of an improved credit rating or drawing on already built equity in the home.

To help determine if you're ready to refinance on a home loan in Los Angeles county, contact Dorothy Reik directly at Bankers Group:
818-226-6100.





Home Commercial Loans |   Escrow |  Hard Money |  Home Equity Loans | Home Mortgages | Refinance | |
Bankers Group   5311 Topanga Canyon Blvd. Suite 201    Woodland Hills, CA 91364
Cal BRE# 01233829 | NMLS ID# 294230 | BGIF, Inc. dba Bankers Group
PH: 818-226-6100 | Fax: 818-226-6111
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