A jumbo loan, also known as a jumbo mortgage, is a form of home financing for whose amount exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). As a result, unlike conventional mortgages, it is not eligible to be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac.
GMFS offers a higher Loan To Value (LTV) limit and lower FICO requirement than many typical Jumbos
- GMFS Jumbo Loans are available for amounts greater than $510,400
- Good first home option for military Veteran’s
- Options are available for no Mortgage Insurance
- Eligible for purchase or refinance of primary residence, second home and investment property