First Home Buyer

Jumbo Loans

If you’re ready to buy a home with a higher price tag, a Conventional Loan might not cut it. Thankfully, BayFirst offers Jumbo Loans to help you purchase the high-value home of your dreams.

Find A Larger-Than-Normal Loan For Your Luxury Home

Jumbo loans are designed for purchasing or refinancing a home that exceeds conventional loan limits set by the Federal Housing Finance Agency (FHFA), such as high-valued homes or those in high-priced areas. To qualify, borrowers must have an exceptional credit score and low debt-to-income ratio.

Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms, including:

  • Loans must exceed $647,200 in most states
  • Tax-deductible interest in some cases
  • Flexible terms for 15-, 20-, and 30-year loans
  • Higher interest rates and down payment requirements compared to conforming loans

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