Jumbo Loans
Financing for properties above conforming loan limits. Perfect for luxury homes in Bergen County and throughout New Jersey's most desirable neighborhoods.
What Is a Jumbo Loan?
A jumbo mortgage (also called a non-conforming loan) exceeds the maximum loan limits set by Fannie Mae and Freddie Mac. These limits are set annually and vary by county — high-cost areas like parts of Bergen County often have higher thresholds.
Because jumbo loans aren't backed by Fannie Mae or Freddie Mac, they carry more risk for lenders. That's why it's crucial to work with an experienced loan officer like Daniel Metri who has access to multiple jumbo investors and knows how to present your profile favorably.
Whether you're buying in Saddle River, Franklin Lakes, Alpine, or another luxury NJ market, Daniel can structure a jumbo solution that fits your situation.
Who This Program Fits Best
- Buyers purchasing luxury or higher-priced properties
- High-net-worth individuals with substantial income and assets
- Those needing loan amounts above conforming limits
- Borrowers with excellent credit
- People with significant liquid reserves
Key Requirements & Guidelines
Minimum Down Payment
Higher
Typically larger than conforming loans
A larger down payment can avoid mortgage insurance
Credit Score Guidance
Strong
Excellent credit typically required
Higher scores generally mean better terms
Reserve Requirements
Significant
Several months of PITI in liquid assets
More reserves = better terms
DTI Ratio
Conservative
Lower is better
Strong assets help compensate
Pros & Cons
Advantages
- • Finance luxury properties
- • Competitive rates for qualified borrowers
- • Flexible terms and structures
- • Can combine first and second lien
- • Access to portfolio products
Considerations
- • Higher down payment required
- • Stricter qualification criteria
- • More documentation needed
- • Larger reserve requirements
- • Rates may be slightly higher than conforming
Disclaimer: All loan program information provided is for illustrative purposes only. Actual rates, fees, and terms are subject to change based on market conditions, creditworthiness, and other factors. A loan approval requires full application review, underwriting, and property approval. This is not a commitment to lend.