Jumbo Loans

in Indiana, Colorado, Kentucky, Tennessee, Florida or Texas.

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Jumbo Loans

Brady Webb
September 26, 2024

Buying high-value real estate in Kentucky or Florida sometimes means borrowing above the Fannie Mae and Freddie Mac conventional conforming loan limits.

For borrowers looking to borrow outside those limits, we offer jumbo mortgages in Louisville and throughout Kentucky, Florida, Colorado, Indiana and Tennessee.

What is a Jumbo Mortgage?

A jumbo mortgage is a type of conventional loan, which means that it is not guaranteed by a government agency like FHA or VA.

It is sometimes called a “non-conforming” loan, because it does not conform to the loan limits for Fannie Mae and Freddie Mac.

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Do You Need a Jumbo Loan in Florida or Kentucky?

To understand whether you need to apply for a jumbo loan or a conforming conventional loan, you need to look up the loan limits for the county in which you are shopping for your new home.

Louisville, Kentucky, is in Jefferson County. The conventional loan limits for Jefferson County, KY are:

1 UNIT

$647,200

2 UNIT

$828,700

3 UNIT

$1,001,650

4 UNIT

$1,244,850

Cape Coral, Florida, is located in Lee County. The conventional loan limits for Lee County, FL, are:

1 UNIT

$647,200

2 UNIT

$828,700

3 UNIT

$1,001,650

4 UNIT

$1,244,850

We have offices in both of these cities, but we work with borrowers throughout Florida and Kentucky. Thankfully, the loan limits are the same in every county in both of these states, making it easy to figure out whether you need a jumbo loan or not.

We are also licensed to work with customers in Tennessee, Indiana and Colorado.

Although most of the counties in these states also have the same loan limits, in some high-cost counties, there are also higher loan limits. For example, in Summit County, CO, the loan limit for a one-unit residence is $822,375.

How to Qualify for a Jumbo Loan in Louisville, Cape Coral or Beyond

The application processes for jumbo loans and conforming loans are much alike. But because you are borrowing a higher sum with a jumbo mortgage, you will need more competitive qualifications.

We will look at:

You should have at least six months of cash reserves, and you should be able to make a minimum down payment of 15%. You might need two appraisals.

Applying for a jumbo loan does not need to be difficult, nor does qualifying.

In fact, even first time homebuyers can purchase homes with non-conforming loans. We are here to make sure that the process is as fast and easy as possible no matter your situation.

Apply Now for a Jumbo Mortgage in FL or KY

Don’t let conventional conforming loan limits hold you back from purchasing your dream home. We can connect you with a jumbo loan featuring competitive rates. To get started now, please give us a call at (502) 327-9770 in Kentucky or at (239) 766-8344 in Florida.

Do you know how much home you can afford?

Most people don’t... Find out in 10 minutes.

Your Mortgage Broker in Cape Coral FL & Louisville KY. We are licensed in Indiana, Colorado, Kentucky, Tennessee, Florida and Texas.

Licensed in: FL, KY, TN, IN, CO, TX

FL-MBR1574, TN-135166

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American Mortgage Solutions follows all Equal Housing laws. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners. For information directly from HUD/FHA, visit https://www.hud.gov/guidance For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/ For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS