Nationwide Home Loans is your source for the best in jumbo loans in Fort Lauderdale, FL. In fact, borrowers were able to take out jumbo loans in small payments, and without any income verifications. Sadly, this led to the huge housing crash several years ago, which saw many borrowers unable to repay their loans. Today, however, the market has employed stricter underwriting and a return to down payment requirements of at least 20 percent. With this in mind, we can connect you to the top jumbo loans lenders in the market today. With flexible repayment terms and low-interest rates, these loans are perfect for existing and potential homeowners across the nation.
Jumbo Loans in Fort Lauderdale – The Essentials
Jumbo loans are essentially large loans that exceed conforming limits. The latter is the maximum loan amount set by Fannie Mae or Freddie Mac. These limits also vary by geographic location and have a standard of at least $434,100 in most home markets. This includes Broward County, along with other counties and areas across Florida. With the new jumbo loan guidelines and regulations firmly in place, applicants must be prepared to pay the 20 percent required in down payments. This ensures timely jumbo loan approvals, which can be used to refinance existing homes.
Your equity – as an applicant – must also equal the 20 percent of the mortgage amount. Similarly, the monthly mortgage payment should not exceed 38 percent of your pre-tax income. Most of the lenders under the NHL umbrella offer jumbo loans based on adjustable rates. This is far better than fixed-rate interest rates, which have a tendency to rise in order to keep pace with interest payments to bank depositors.
Getting Jumbo Loans in Fort Lauderdale
Nationwide Home Loans offers all types of home loans for new and existing owners. This includes Fort Lauderdale jumbo loans, along with FHA and VA loans. We also feature income-sensitive loans, as well as fixed and variable rate loans for borrowers. As a full-service lender, our goal is to turn your homeownership dream into reality. From traditional fixed-rate to adjustable-rate mortgage loans, we are always here and offer financing options as well. With years of extensive industry experience, our loan specialists guarantee the following for all new and existing applicants:
- We offer all borrowers a full mortgage loans landscape. This includes FHA, VA, and jumbo loans to meet all your homeownership needs.
- Our loan specialists handle all particulars from start to finish – home loan applications, lender connections, and timely approvals.
- We avoid industry jargon that is confusing and hard to understand. Instead, we use the straightforward information to help you make a worthwhile and informed home loan decision.
- From first-time mortgages to second mortgages and financing, NHL is here to help you every step of the way.
The Best Home Loans in Fort Lauderdale
We are also proud to offer Federal Housing Administration (FHA) loans for all borrowers. These loans are designed to help low-to-moderate income families secure homes with low down payments. The same also applies to closing costs, while Veteran’s Affairs Loans (VA) utilizes the same principles to helps veterans and military personnel with cost-affordable loans. While the VA does not issue these loans directly, they do issue certificates of eligibility to get these loans from NHL.
VA loans are backed by the federal government, and extend favorable interest rates to service men and women with low upfront costs. No matter which loans you need, you can expect the best services from the best people in the industry. At Nationwide Home Loans, we are truly passionate and dedicated to helping all our clients’ with their home loan and ownership needs. With professional knowledge and in-depth industry experience, we invite you to visit our site or contact us today for more assistance.
For more information on Jumbo Loans in Fort Lauderdale, simply contact us today or visit our website.