• Tel: (954) 534-7745
    Email: info@ProgressCapitalLLC.com

  • Jumbo Loans

  • A loan that exceeds the local conforming loan limit is called a "Jumbo Loan."  Qualification for these loans is more stringent and usually requires a down payment of at least five percent.  The unpaid principal balance can be as high as four million dollars.

    Higher loan amounts usually require greater down payments and higher FICO credit scores.  FICO scores begin at 700 for $1,000,000 and 5% down payment.  For 1,500,000 the FICO score jumps up to 740.  A $4,000,000 loan requires at least 20% down.  Higher loan limits are possible with greater down payments.

    Different lenders frequently have special loan programs targeting jumbo loans.  We offer those as well.  Please do not hesitate to contact us if you are interested or have any questions.

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