What is a Jumbo Mortgage
A Jumbo Mortgage is the term used for a mortgage when the Loan Amount is greater than $484,850 in most areas of Illinois. At First American Mortgage Corporation, we offer an Elite Jumbo Option for Loan Amounts up to $726,500 when certain guidelines are met. This expanded Loan Amount can saves borrower $1000’s each year and also has easier underwriting guidelines compared to traditional Jumbo Loan Programs.
If you are looking for a Jumbo Loan in Wheaton, Glen Ellyn or the surrounding towns, contact Dan Palumbo at First American Mortgage with questions or to apply today. I will review your scenario and offer guidance for your new home purchase.