Because great big homes come with great big price tags.

A jumbo mortgage is a home loan for an amount that exceeds the conforming loan limits established by the Federal Housing Finance Agency.  For most counties in the United States, the conforming loan limit is $484,350.  Other higher-cost areas carry limits up to $726,525.    

What are some other differences with jumbo financing?  Well, jumbo mortgages typically have higher down payment requirements and stricter underwriting than conforming loans. In addition, at least 6 months’ worth of reserve funds (i.e. monthly housing payments) is required.  

Here’s what Ardent brings to the table:

  • Loan amounts up to $1.5 million
  • Purchases and refinances for primary or secondary residences
  • For qualified borrowers, purchase financing available up to 95% of sales price/appraised value on primary residences.   
  • Reduced Private Mortgage Insurance (PMI ) premiums (for mortgages in excess of 80% Loan-to-Value)
  • Terms available for 10, 15, 20 and 30 years
  • Adjustable Rate Mortgages and Fixed Rate financing available (dependent on term and down payment)
  • Average application processing time is 45-60 days (when two appraisals are required)
  • Mortgage origination fee $895 (regardless of loan amount).  Other closing costs such as title insurance, appraisal and transfer tax are separate.
  • Financing available in all states except Texas and Puerto Rico
  • No pre-payment penalties
  • Simple online application process
     

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