Jumbo Home Loans in Arizona

A JUMBO HOME LOAN is a mortgage loan greater than the conventional loan limits. The Jumbo home loan minimum in Arizona is $417,001.

 

Jumbo mortgage loans are a higher risk for lenders. This is because if a jumbo mortgage loan defaults, it may be harder to sell a luxury residence quickly for full price. Luxury prices are more vulnerable to market highs and lows in some cases. That is one reason lenders prefer to have a higher down payment.  Jumbo home prices can be more subjective and not as easily sold to a mainstream borrower, therefore many lenders may require two appraisals on an Arizona jumbo mortgage loan. Also the interest rate charged on a Jumbo Home Loan is generally higher than a loan that is conforming.

 

Sun Nations Mortgage, Inc. has very competitive rates and terms for Jumbo Home Loans in Arizona.  Call 602 993-0000 for a loan program to meet your needs.