We make qualifying for a large loan straightforward, fast and easy. A jumbo mortgage, exceeds the loan limits set by the Federal Housing Finance Agency and are considered non-conforming loans. At Bank of England Mortgage, our specialty is funding the dream of homeownership - no matter the size of the loan or dream home. That's why we created our jumbo mortgage lending program - a full suite of offerings designed with the needs of borrowers that seek larger loan amounts than were available through traditional lending options.
It's as simple as it sounds and although the qualifying requirements are different, it's still the same process. Jumbos are prevalent in more expensive zip codes and we can accommodate these loans up to $3.5 million.
Conventional mortgages have limits, so you need a jumbo mortgage loan if you want a more high-end home. There's no mortgage insurance required, and you can get one for a multifamily homes or a condo. If you're self-employed, you can use bank statements to qualify with as little as 10% down. We can provide loans up to $2 million with a 5% down payment to those with a 740 FICO score and loans up to $3 million with 10% down for those with a 700 FICO score.