Jumbo loans finance properties that exceed conventional loan limits — no compromises on your dream home.
Financing Your Dream Home
At Contemporary Mortgage Services, we offer jumbo home loans designed to help you finance luxury properties and homes in high-cost areas. These loans provide funding for amounts that exceed the conforming loan limits set by Fannie Mae and Freddie Mac.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. Because these loans represent a higher risk for lenders, they typically require a strong credit profile and a larger down payment — but they offer the freedom to purchase high-value real estate without compromise.
Key Benefits of a Jumbo Loan
Higher Loan Limits
Finance luxury homes and properties in Florida's most desirable high-cost areas without being capped by conventional limits.
Competitive Rates
Enjoy interest rates that reflect your strong financial profile and credit history.
Flexible Structures
Choose from Fixed-Rate, Adjustable-Rate (ARM), or Interest-Only payment options to match your financial strategy.
No PMI Options
Many jumbo programs allow you to avoid Private Mortgage Insurance even with lower down payments.
Typical Jumbo Loan Requirements
Because jumbo loans exceed conforming limits, lenders typically require:
Strong Credit Score — Most lenders look for a score of 700 or higher, with better rates available for higher scores.
Larger Down Payment — Typically 10–20% or more, depending on the loan amount and lender requirements.
Low Debt-to-Income Ratio — Lenders generally prefer a DTI of 43% or lower to confirm your ability to manage larger payments.
Substantial Cash Reserves — Many lenders require several months of mortgage payments held in reserve after closing.
Full Income Documentation — Tax returns, W-2s, pay stubs, and bank statements are typically required for full verification.
Our Jumbo Loan Options
Fixed-Rate
Predictable monthly payments with a locked-in rate for the life of the loan. Ideal for long-term homeownership stability.
Adjustable-Rate (ARMs)
Lower initial rates that adjust after a set period. Great for buyers planning to refinance or sell within a few years.
Interest-Only
Pay only interest for an initial period, maximizing cash flow and flexibility during the early years of the loan.
The Application Process
Our team of experienced Loan Originators ensures a hassle-free experience for high-value transactions:
Consultation — Speak with one of our Loan Originators to discuss your financial situation and determine the best jumbo loan option for you.
Prequalification — Get prequalified to understand your borrowing potential and target price range.
Application — Complete the mortgage application with our team's guidance, ensuring all necessary documentation is provided.
Approval — We'll process your application and, once approved, lock in your loan terms.
Closing — Sign the final documents and move into your new home!