What is a jumbo loan? A jumbo loan is based on a home owner obtaining a mortgage, the minimum is $417,000 and up and varies as some jumbo loans have a limit. These loan limits are set by the Federal National Mortgage Assocation (FNMA). Generally speaking jumbo home loans or mortgages carry a higher interest rate and based on credit and debt will determine how much of a down payment requirement will be and whether you qualify for a home loan.
Whether you are purchasing a luxury condo or condotel, we work with the best lenders in the area and we would be happy to assist you in buying a luxury condo. For more information on jumbo loans or to get approved for a mortgage, feel free to contact the Daytona Luxury Condo Team. We list and sell luxury condos and real estate in the Greater Daytona Beach area!