Super Jumbo Loans is any loan for 1 million or more. Although, they are an increased risk to lenders many of the top mortgage lenders and niche lenders provide them.

Once your super jumbo loan amount is reduced to under $417,000 be sure to ask your trusted mortgage adviser about refinancing to a conforming loan. The interest rates for conforming loans are lower than for jumbo or super jumbo loans, so by refinancing you could save thousands in annual interest payments.

Super Jumbo Mortgages quite often, present an increased risk to the lender in direct correlation with the size of the loan, substantially more than conforming mortgages and are therfore priced in relation to that risk.

Super Jumbo Loan Financing - The term Super Jumbo Mortgage is used to describe mortgage loans exceeding $650,000 whereas a Jumbo Mortgage refers to loans which simply surpass Fannie Maes limits for conforming loans.

Please call 269-729-4454 and speak with [name] to find out more about super jumbo loans.

Super jumbo loans may require a bigger down payment and a higher interest rate to offset the risk of the lender.

A super jumbo mortgage loan is also a non-conforming loan because it does not conform to the loan limits set by Fannie Mae (The Federal National Mortgage Association or FNMA) or Freddie Mac (The Federal Home Loan Mortgage Corp. or FHMLC).

Super Jumbo loans are usually used to buy luxury homes.

Super Jumbo Mortgage - Super Jumbo Mortgages are mortgage loans of $650,000 or more. While conventional banks and mainsteam, conforming lenders traditionally underserve borrowers of super jumbo mortgages, a few mortgage companies specialize in arranging super jumbo financing up to multi million dollar loan amounts.

Lenders specializing in super jumbo loans particularly like to see liquid assets in reserve after closing. It is much easier to qualify for lower super jumbo mortgage rates with a minimum of 6 months mortgage payments in reserves. Consult your mortgage professional about what asset reserve requirements you must meet to get optimal financing terms.

Some Super Jumbo Loans originally thought to be unwriteable can be obtained by cross-colaterlization. In fact many more lenders will be open to doing more of this business if the borrower(s) are willing to do this.

Interest rates on Super Jumbo Mortgages are relatively higher than a regular conventional mortgage.

Super Jumbo mortgages are considered non-conforming mortgage loans