What You Need For A Jumbo Loan Application

What You Need For A Jumbo Loan Application

As compared to the traditional mortgage programs, jumbo mortgage lending requires more information for application and is typically reserved for applicants with good credit, steady income, and a good amount of cash reserves.

If you are applying for a jumbo home loan in Florida, the following information will likely be needed:

– Credit Score
– Proof of Steady Income;
– Personal and Business Bank Statements if Self-Employed;
– Evidence of Cash Reserves For 6-18 Months of Mortgage Payments;
– Current Debt (to determine debt-to-income ratio);
– Current Assets;
– Additional Appraisals;

These will be needed as a first step in determining your eligibility for a jumbo mortgage or refinance.

You can find Jumbo Loan Lenders that can help you get approved for a jumbo loan here: Jumbo Loan Tampa