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Buy
Apply Now
Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Programs
Navigate all our programs and find the perfect loan for you.
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About
Jumbo 15-Year
<p class="MsoNormal">A 15-year fixed jumbo loan allows for loan amounts over $424,100 (or $636,500 in some areas) while reducing the interest you pay in the long run.</p>
Benefits
Competitive Rates
Attractive interest rates, often comparable to conforming loan rates.
Build Equity Faster
Shorter loan term allows you to build home equity more quickly than with a 30-year loan.
Flexible Terms
Many lenders offer flexible terms, including down payments as low as 10%.
Exclusive Perks
Often comes with additional benefits, such as access to private banking services.
Jumbo 15-Year Fixed Mortgage Information
<p>The Jumbo 15-Year Fixed mortgage is tailored for borrowers financing properties that exceed conventional loan limits. To better understand how this loan can help you purchase your high-value dream home, you can start by <a href="/apply">speaking to one of our seasoned experts</a>.</p>
Loan Requirements & Qualifications
<ul><li>Credit Score: 700 or higher</li><li>Debt-to-Income Ratio: 45% or less</li><li>Cash Reserves: 6 to 12 months' mortgage payments</li><li>Down Payment: 10% to 15%, potentially higher for larger loan amounts</li><li>Closing Costs: Approximately 2% of the loan amount</li></ul>
Loan Limits
<p>For 2024, the Federal Housing Finance Agency has set the following limits:</p><ul><li>Conforming limit: $766,550</li><li>High-cost areas (e.g., New York City, Hawaii, San Francisco): Up to $1,149,825</li></ul>
Interest Rates
<p>Jumbo 15-Year Fixed mortgage rates are often competitive with conforming loan rates. For the most up-to-date rates, check our website or speak with a loan officer. We update our rates twice daily to ensure you have access to the best deals.</p>
Pros and Cons of Jumbo 15-Year Fixed Mortgages
<p>Understanding the advantages and disadvantages of a Jumbo 15-Year Fixed mortgage can help you make an informed decision.</p>
Pros
<ul><li>Competitive interest rates, often close to conforming loan rates</li><li>Flexible terms, including lower down payment options</li><li>Exclusive perks, such as access to private banking services</li><li>Faster equity building due to shorter loan term</li><li>Fixed rate provides payment stability</li></ul>
Cons
<ul><li>Stringent guidelines and strict underwriting requirements</li><li>Limited availability from select lenders</li><li>Higher loan limits may not qualify all borrowers</li><li>Higher monthly payments compared to 30-year loans</li><li>May require more cash reserves and a larger down payment</li></ul>