Jumbo Mortgage Loans

Welcome to Smart Home Mortgage Loans.

Our smart mortgage lenders specialize in providing home financing for loans up to 5 million, with quotes from 3 competing mortgage loan specialists from across the country. All our home loan specialists are dedicated to finding the right jumbo loan with the best interest rates, terms and reduced costs to meet your unique financing needs. When you need a non-conforming mortgage, because the loan amount exceeds $417,000, call the experts from Smart Home Mortgage Loans.

Our mortgage lenders specialize in providing premium jumbo loans with competitive rates for fixed and adjustable rate mortgage programs. Our home-lending experts will help you determine the amount you are approved to finance. Smart Home Mortgage Loans will assist you in getting a pre-approval for subordinate financing with multiple options. Select the right 2nd mortgage with documentation options and interest rate options. Maybe you want a fixed rate, but maybe you need a minimum payment option like an interest only, or negative amortization loan. The good news is that you found the right website and Smart Home Mortgage Loans looks forward to walking you through the entire mortgage process.

• Loan Amounts up to 3 Million
• Cash Out Refinance
• Debt Consolidation Refinancing
• No Equity Refinance
• Stated Income Refinance
• No Income Documentation Loans
• Non-Conforming ARM, Interest Only
• Government - FHA, VA
• Home Equity – Fixed Rate or HELOC's
• Home Construction Lending

Option ARM Mortgages Keep Rising in Popularity for Jumbo Loans
While the 30-year, fixed rate mortgage is still the most popular for prime borrowers, many are exploring a host of other possibilities.

• 2/28 and 3/27 ARMS. The interest rate is fixed for the first 2 years and then adjusts higher each remaining year based on an underlying interest rate index. Non-prime loan rates vary more than prime rates but most are now near 8 percent.

• Interest-only mortgage loans. Mortgages that allow the home buyer to pay only the interest on a loan, typically for a period of three to 10 years before the principal is amortized. The loan may reduces monthly payments on a $400,000 loan by almost $400 a month based on current mortgage rates.

• 80/20 home loans. Two mortgages in one loan that finances 80 percent of the house and another "piggyback" loan that covers up to 20%, depending on the down payment. A new tax law recently passed that gives a deduction for mortgage insurance makes this less attractive.

• Payment-option ARM. Mortgages that give the home buyer a variety of payment options each month. They have been greatly criticized because they allow the home buyer to increase the balance of their loan. This is called negative amortization as the interest is deferred and added to the balance quarterly or annually depending upon the index and lender.

Jumbo Mortgage Loans do not conform to the guidelines established by Fannie Mae or Freddie Mac or exceeds the conventional loan limit is called a Jumbo loan. These loan amounts can go up to 2 million dollars. Loan to value limits for Jumbo loans range from 50% to 95% depending on the loan amount.

Big Fixed Rate - Fixed rate mortgage in a variety of terms up to $2,000,000 loan amount.

One Year Treasury ARM - One year adjustable rate mortgage that adjusts annually for loan amounts to $3,000,000.

3/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $2,000,000 that has a fixed rate for the first three years and adjusts annually afterward.

5/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $2,000,000 that has a fixed rate for the first five years and adjusts annually afterward.

7/1 Treasury ARM - Adjustable rate mortgage for loan amounts to $2,000,000 that has a fixed rate for the first seven years and adjusts annually afterward.

Typical Mortgage Terms

• 30-year Fixed Mortgage
• 15-year Fixed Mortgage
• 20-year Fixed Mortgage
• 10-year Fixed Mortgage
• 1-year ARM
• 3/1 ARM
• 3/1 Interest-only ARM
• 5/1 ARM
• 5/1 Interest-only ARM
• 7/1 ARM
• 10/1 ARM
• 30-year Jumbo Mortgage
• 15-year Jumbo Mortgage
• 5/1 Jumbo ARM
• 5/1 Jumbo Interest-only ARM
• FHA Mortgage

Typical Refinance Terms

• 30-year Fixed Refinance Mortgage
• 20-year Fixed Refinance Mortgage
• 15-year Fixed Refinance Mortgage
• 10-year Fixed Refinance Mortgage
• 1-year ARM Refinance Mortgage
• 3/1 ARM Refinance
• 3/1 Interest-only Refinance ARM
• 5/1 ARM Refinance
• 5/1 Interest-only Refinance ARM
• 7/1 ARM Refinance
• 10/1 ARM Refinance
• 30-year Jumbo Refinance Mortgage
• 15-year Jumbo Refinance Mortgage
• 5/1 Jumbo ARM Refinance Mortgage
• 5/1 Interest-only Jumbo Refinance ARM
• FHA Refinance Mortgage