Jumbo Loans

What is a Jumbo Loan?

For the calendar year 2008, a Jumbo loan is a residential mortgage where the amount loaned to purchase or refinance a home exceeds $417,000. Each year the loan limits are adjusted to meet current market conditions. These Jumbo loans are also called nonconforming loans because the loan amount exceeds Fannie Mae and Freddy Mac’s underwriting guidelines. The Jumbo loan limit in 2008 is the same as it was in 2006.

Borrow up to $1 million at a great mortgage rate

Why Network Funding is the smart choice for loan amounts over $417K in Texas:

• 15 and 30-year fixed rate loans for consistent monthly payments
• 5/1, 7/1 & 10/1 ARMs for lowering upfront payments
• Interest-only loans for greater flexibility to control your cash flow