Jumbo Loans

Are you buying a home in Virginia and need a loan amount over $484,350? In most parts of Virginia, loan amounts over $484,350 will need to be a jumbo loan, unless the property is located in a high-cost area. Our jumbo loans have excellent fixed rates for up to 30 years with as little as 10% down payment and no mortgage insurance.

What is a Jumbo Loan?

A jumbo loan is known as a “non-conforming” mortgage because it is for an amount that exceeds the conforming limits of Fannie Mae and Freddie Mac. The maximum conforming loan limit is $484,350 in most markets throughout Virginia. However, in some high-cost housing markets where home prices are above average, the limit is $726,525. Any loan amount higher than these numbers will require jumbo financing. A jumbo mortgage can be used to purchase a primary residence, second home, or investment property.

Loan amounts that exceed the conventional loan limits below require a jumbo mortgage:

Loan amounts that exceed the conventional loan limits below in high-cost areas require a jumbo mortgage:

If you need financing which falls above the limits stated above, you should apply for a jumbo loan.

Qualifying for a Virginia Jumbo Loan

Qualifying for a jumbo loan vs a conventional loan is very similar and is not difficult. The requirements for credit score and down payment are higher, but they are not so different from those you would need to meet for conventional financing.

With offices in Blacksburg, Marion, and Abingdon we provide jumbo loans in Virginia including Blacksburg, Christiansburg, Roanoke, Abingdon, and the surrounding areas.