If you’re buying, financing, or building a home with a higher property value and can manage larger monthly mortgage payments, a jumbo loan, also referred to as a non-conforming loan, may be a good choice for you.
“Non-conforming” refers to loan amounts higher than the maximum conforming limits available for Fannie Mae loans. Jumbo loans are available in a variety of fixed-rate and adjustable-rate options. Although they usually feature both a higher down payment amount and higher interest rate than standard mortgages, a fixed or variable-rate jumbo loan can help some people accommodate large purchases.
Some of the key features of a jumbo loan include:
A jumbo loan can help finance your primary or secondary home. Contact us today to discuss whether a jumbo loan is right for you.
Choose from these other mortgage types that might work for you.
Looking for stable monthly payments? With a fixed-rate Mortgage, the interest rate on your mortgage loan remains the same for its entire term.
Most adjustable-rate mortgage (ARM) loans feature an initial fixed-rate period, with interest rates adjusting once per year after the fixed-rate term expires.
Government Loan Programs
If you are looking to apply for a mortgage or to refinance, you may be eligible for a FHA, VA, or USDA loan.
Home Ownership Made Easier (HOME)
Through our Home Ownership Made Easier (HOME) mortgages, BBVA Compass is building stronger communities and helping people achieve the dream of home ownership.
Building your dream home starts with finding the perfect location. With so many considerations to make in preparing to build, let us take care of the lot financing.
Renovation Permanent Loans
Kitchen remodel, attic conversion, basement finishing, or bedroom add-on—major renovations can add serious value to your home.
Foreign National Mortgage
BBVA Compass welcomes the opportunity to provide mortgage services to Foreign Nationals who want to purchase, refinance, build, or renovate a home in the United States.
The mortgage landscape has changed dramatically in the last several years. Jens Lovell, executive vice president, Mortgage Lending at BBVA Compass, is here to clear up any misconceptions.