Jumbo Mortgage Loans: Financing Your Dream Home

Jumbo mortgage loans provide financing solutions that exceed the conforming loan limits set by the Federal Housing Finance Agency, making them essential for purchasing higher-priced properties in today’s competitive real estate market. True Sky Federal Credit Union offers jumbo loans up to $1,000,000 with both fixed and adjustable rate options, designed explicitly for Oklahoma residents seeking to purchase or refinance luxury homes and primary residences. These non-conforming loans fill the gap between conventional mortgage limits and the financing needs of borrowers looking to invest in premium properties, whether it’s a sprawling estate, waterfront property, or high-value home in an exclusive neighborhood. Our jumbo mortgage program features competitive rates with no application fees or annual fees, and TruHome professionally services loans to ensure a seamless borrowing experience from application through the life of the loan.

Understanding the unique requirements of jumbo financing is crucial for qualified borrowers who need larger loan amounts while maintaining favorable terms and conditions. While jumbo loans typically require more stringent credit criteria and larger down payments compared to conforming loans, they offer the flexibility to finance substantial real estate investments without the constraints of conventional loan limits. Borrowers should be prepared for comprehensive income verification, higher credit score requirements, and potentially larger cash reserves, as lenders carefully evaluate the increased risk associated with these larger loan amounts. Additionally, loans with a Loan-To-Value ratio above 80% may require mortgage insurance, and interest rates can be locked only after a completed application is submitted. The APR reflects the total cost of borrowing, including interest rates, points, and fees, with all rates and terms subject to change based on market conditions and individual borrower qualifications.

APR = Annual Percentage Rate. Credit restrictions apply. Rates and terms are subject to change at anytime. Rates can be locked only after your completed loan application is received. This information is not a commitment to make a loan, nor is it a guarantee that you will receive a specific rate if approved.  An annual percentage rate (APR) is a broader measure of the cost to you of borrowing money. The APR reflects not only the interest rate but also the points, mortgage fees, and other charges that you have to pay to get the loan. For that reason, your APR is usually higher than your interest rate.  Loans above 80% Loan-To-Value ratio may require mortgage insurance.

Credit criteria apply. Rates are subject to change at any time, and payment will vary based on the loan amount. Credit Union membership required with a minimum $5.00 share account. No application fee. No annual fee. No interest is charged until you use the funds

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From True Sky Federal Credit Union