Today, the housing market has shifted again, with many homeowners looking for other financial options for their home. Many homeowners are having a difficult time trying to find a lender other than large brand-name banks to service Jumbo loans in Fort Lauderdale, FL. That means customers are choosing to sacrifice personal service and accessibility for the company that handles an investment that typically exceeds a half million dollars. At Nationwide, we service jumbo loans while maintaining the quality of service you demand from a lender. It’s what you should demand from every lender but can only get from Nationwide.
What Are Fort Lauderdale Jumbo Home Loans?
Jumbo loans in Fort Lauderdale, Fl are a valuable loan option for homeowners who need to qualify for a financing amount that exceeds the conforming loan limits set forth by Fannie Mae and Freddie Mac. If the jumbo loan is being used to refinance an existing home, equity typically must also equal 20 percent of the mortgage amount. Most lenders also offer Fort Lauderdale jumbo home loans on adjustable-rate rather than fixed-rate interest rates.
While interest rates remain favorable, they will eventually rise in order to keep pace with interest payments to bank depositors. Jumbo loans do generally have a higher interest rate than standard loans due to their costs, but there are also many benefits to this type of home loan. Fort Lauderdale jumbo home loans may be the right option for you if you are outgrowing your home and need more space for your family.
Opportunities For You and Your Family With NHL Lending
Many newly married couples, long-time homeowners, and large families enter into the dream of home ownership in a practical home as a first-time home buyer. As their families grow, and they begin to build their financial empire, their preferences begin to meet certain demands such as better schools, quicker commutes, and safe neighborhoods. These highly desirable areas often come with a larger price tag. Fort Lauderdale jumbo home loans are the greatest options for families who are looking to fit these needs. NHL is your premier mortgage lender who can help you make your dream of a larger luxury home a reality.
How Do You Qualify For a Jumbo Loans Fort Lauderdale?
Even if you’re fortunate enough to have a million dollars sitting in your bank account, qualifying for jumbo home loans probably won’t be a walk in the park. As with a standard mortgage loan, there will be some major hoops that you will have to jump through. Before starting the application process, it’s a good idea to have your documents in order and ready to go, including your most recent pay stubs, W2 forms, tax returns and bank statements. It’s also critical that you have at least six months of cash ready to put toward your jumbo loan, particularly if you’re an entrepreneur or you work for yourself.
When applying for a standard mortgage loan, lenders usually prefer for your debt-to-income ratio (the money you use to pay off debts each month divided by your monthly income) to be below about 36%. If you’re applying for a jumbo loan, however, you generally need to have a lower debt-to-income ratio.
Jumbo Mortgage Loans In Fort Lauderdale, FL
We provide more than just jumbo loans. We are a full-service lender with a single goal: to make your home ownership dreams a reality. We do this by maintaining a complete roster of mortgage products. This includes conventional fixed-rate and adjustable-rate mortgage loans, as well as a number of specialty products, jumbo loans included. Having a full view of the mortgage landscape means we are able to consider all options for your mortgage and give you authoritative advice on how to best proceed with your loan.
We skip the gimmicks and jargon in favor of clear, straightforward information that helps you make the right decision. We are also an FHA loan provider, which helps thousands of low- and moderate-income Americans each year by giving them access to credit and reducing the short-term cash demands associated with down payments and closing costs. Our Veterans Affairs loans, backed by the federal government, extend favorable interest rates to service men and women, and also reduce upfront costs.
We strive to make home ownership a reality for every American who seeks it. Whether or not they’re in the market for jumbo mortgage loans residents can rely on NHL for the professional knowledge they need and dedicated service they demand.