Any loan over the $417,000 conventional loan limit is considered a jumbo loan. Loan limits may differ on a county-by-county basis.
Jumbo loans are much more flexible than most people think. They can be a fixed-rate or adjustable rate mortgage, which ever suits your purpose.
If you are interested in more information about Jumbo loans, contact an Alaska USA Mortgage Company originator today. Once you have met with a loan originator and reviewed the variety of loan options, you can move forward and get prequalified. Your loan originator will review your credit report and explain how your credit affects your borrowing power.
Your loan originator will give you a list of documents that you need to bring in to be reviewed by local underwriters. Common documents requested are:
Alaska USA may ask for additional items that are required based on the specific loan that you choose based on your financial status or situation.
Don't forget, the choice is yours when it comes to selecting the title and escrow agency, acting as the neutral party for you and the seller.