Jumbo Loans

Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.  Texas Premier Mortgage offers Jumbo Purchase, Jumbo Refinance, and Jumbo Home Equity Options.   We have a variety of options from fixed rates to adjustable rate mortgages depending on your goals and length you plan on staying in your home.  Loan over $417,000 will qualify under the Jumbo product.  Talk to one of our Texas Licensed Loan Officers for more details about our rates and products. Texas Premier Mortgage is a qualified Jumbo Loan Lender servicing clients in The Woodlands, Spring, Conroe, and does business in surrounding areas such as Houston, as well as the entire state of Texas.

In the United States, a jumbo mortgage is a mortgage loan in an amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises Fannie Mae and Freddie Mac, and sets the limit on the maximum value of any individual mortgage they will purchase from a lender. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase the bulk of U.S. residential mortgages from banks and other lenders, allowing them to free up liquidity to lend more mortgages. When FNMA and FHLMC limits don’t cover the full loan amount, the loan is referred to as a "jumbo mortgage". The average interest rates on jumbo mortgages are typically higher than for conforming mortgages.

As of 2010, the limit is $417,000 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $625,500.