The BEST Jumbo Mortgage Lender in the ENTIRE St. Louis, St. Charles, Springfield, Branson, Lake of the Ozarks, and Kansas City area! REALLY? What exactly does that mean? What constitutes the best? Is it the lowest interest rates? A large and ranging selection of mortgage programs? Easier qualification? The answer to the question of what lender is the best Jumbo lender in the area will depend on you and your needs.
Ever since 2008 when the mortgage industry went through some dramatic and lasting changes it is the Jumbo mortgage market that got hurt the worst. Many home owners and home buyers looking to purchase and finance a new home or refinance have found it extremely difficult if not nearly impossible to get a new mortgage. Most lenders at the time did not want to take the risk of providing Jumbo mortgages so they restricted their programs or did away with them all together. Today, there are several lenders putting their toe into the water of Jumbo mortgages, they are testing the water but I am just now seeing a lot of great changes to the Jumbo mortgage mortgage
WHAT IS A JUMBO MORTGAGE?
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.
In the St. Louis area and all over the State of Missouri the conventional maximum loan limit is set at $417,000, so any loan over the conventional loan limit cannot be bought by FannieMae or FreddieMac. Any mortgage loan with a principal balance of over $417,000 for the most part will be considered a Jumbo mortgage.
If having the lowest interest rate for YOUR Jumbo mortgages is what you are looking for then this criteria is making USA Mortgage the BEST Jumbo Mortgage Lender in St. Louis and St. Charles Mo? Well, I certainly think it isn't hurting! Interest rates greatly effect your house payment when your loan amount is so much higher than the norm, looking for a lender with the lowest interest rate is paramount to many Jumbo borrowers.
A small .250% difference of interest rate on a principal balance of $800,000 equates to a annual savings of $2000, and over a short 5 year period this is a savings of $10,000! As anyone knows, your money in your pocket will do better for you than it would in your banker's pocket.
Are you looking for the lowest interest rate? If you are; please make sure you are considering the cost of getting that extremely low interest rate. With that warning having been made I will offer you this; I have not found any Jumbo Lender in the St. Louis area who can beat USA Mortgage's Jumbo interest rates across the board and especially so when you consider the cost of gaining that low interest rate.
Do you want the lowest Jumbo interest rate for your new home purchase or to refinance your current mortgage? I encourage you to contact me, call or email, or provide me your mortgage scenario below and ask for a quote, it only takes a few minutes to save thousands of dollars. If the lowest interest rate isn't the only item you need in a new Jumbo Mortgage than I know USA Mortgage is your answer.
THE WIDEST ARRAY OF JUMBO MORTGAGE OPTIONS AND PROGRAMS!
Jumbo borrowers are more in need of wider or more lacked underwriting standards than government loan and/or conventional loan borrowers. Back in 2008 all of the Jumbo lenders made the deepest cuts to the lending guidelines that made borrowing money so easy, they made their lending guidelines so tight that only a few borrowers could actually get a Jumbo mortgage. Recently, many lenders have loosened their guidelines. Though Lenders still pay attention to risk it is easier to get a Jumbo Mortgage today.
As of this writing I still have no ability to provide a mortgage to a Jumbo borrower who cannot prove income, there still is no Stated Income loan programs available to Jumbo borrowers. I do have a program that allows for stated assets, and this has helped a few of my recent borrowers get new mortgages! We also have the ability to use your assets as income without you having to withdraw those assets. No stated income at this time, but we are very close.
We aren't back to the old days but I doubt we will ever see those days return. I am doing more and more Jumbo loans today because the lenders I work with are opening up their lending guideline to allow more borrowers in. To discuss all that is now available would be too plentiful and contribute already to a too long page. I suggest you contact me, email or call, or ask your question below, tell me as much as you can of what you need and/or want, I will provide you a rate quote plus what is available to you. Below is a list of some highlights of what many new Jumbo borrowers are finding at USA Mortgage:
New Loans up to a $3,000,000.00
Loan to Value ratio of 95% on purchases and refinances, single loan (rate and term only)
No Mortgage Insurance option up to 95% loan to Value, single loan
Adjustable Rate Mortgages: 1/1, 3/1, 5/1, 7/1 and 10/1 options
Fixed Rate Mortgages: 10 year, 15 year, 20 year, and 30 year options
Interest Only options
CASH OUT options up to a 90% Loan to Value
Credit Scores as low as 650
Second Homes and Condo eligible options
Maximum 50% total debt to income ratios
Self Employed are welcomed
Cash out up to $250,000 cash in hand option
Single appraisal options
USA Mortgage lends in 15 States, at this time, and through out the entire State of Missouri. I have yet to find a mortgage lender that can offer what we do in the St. Louis area! Is this just big talk? Well, we are a BIG Lender, USA Mortgage will provide you more options and the lowest interest rates than any Jumbo Lender.
If you are looking to purchase a new home or want to refinance your Jumbo Mortgage, here in St. Louis or anywhere in Missouri you need to look into what we can provide. We don't just lend in St. Louis. St. Charles, Ladue, Clayton, Town and Country, Chesterfield, Frontenac but also in Kansas City, Springfield, Columbia, Sikeston, Branson, Jefferson City, Cape Girardeau, Washington. If you have a Jumbo mortgage need and you are in the State of Missouri I want to hear from you.
Call me at 314-628-2218, email me at email@example.com or fill out the form below and I will contact you. If you have the question I am certain we have the answer.