Jumbo Loans

What are Jumbo Loans?

Jumbo Loans are loans that exceed the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and is not eligible to be purchased, securitized, or guarenteed by Fannie Mae or Freddie Mac. A Jumbo Loan is for mortgages more than $625,500. It also offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

What are the Jumbo Loans Down Payment Requirements?

Most purchase transactions that are Jumbo  require the home-buyer to put down at least 20% of the purchase price of the home.  With The Preferred Mortgage Planning Group at Bank of England Mortgage, you could purchase a home using the Jumbo program with only 5% down!   Cash out and No cash out refinance are allowable.

What types of property are eligible?

Most Jumbo loan programs allow you to purchase single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.

Find Out if a Jumbo Loan is Right for You

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Bank of England Mortgage

1000 Germantown Pike Suite F1
Plymouth Meeting , Pennsylvania 19462
Phone: 877-761-3076
NMLS: 418481

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