Jumbo Loans in Dallas, TX

A Jumbo loan is when the loan amount is higher than the conventional loan limit, which is $726,200 in most U.S. counties.

Potential Jumbo Loan Benefits

Texas Jumbo Home Loans: Financing for High-Value Properties

Jumbo Loans in Dallas, TX

For those in the market for a high-value, luxury home in Texas where the financing needs surpass the conventional loan limits, a jumbo loan may be the most suitable option. HomeTown Lending offers competitive rates for jumbo loans up to $3,000,000 to accommodate your aspirations for a more spacious and opulent residence.

Jumbo Loan Requirements

To be considered for a Texas jumbo mortgage, applicants generally need a credit score of 700 or higher. Documentation of income and assets is crucial to demonstrate the ability to afford a jumbo loan. In Texas, jumbo loan applicants typically need a debt-to-income ratio no higher than 45%. Unlike some conforming or government loan types, jumbo loans often require borrowers to have at least six months of reserves post-closing.

HomeTown Lending: Your Partner for Texas Jumbo Mortgages

  • Loan amounts up to $3,000,000
  • Maximum Loan-to-Value (LTV) of 80%
  • Adherence to specific investor requirements
  • Fixed and Adjustable Rate Mortgage options
  • Dedicated local customer service in Texas

For personalized advice and to find out if a jumbo loan aligns with your property goals, speak with one of our jumbo home loan experts at (855) 868-8825.

Texas Jumbo Loan Thresholds and Limits for 2024

The conforming loan limit for all Texas counties is currently set at $688,550 for 2024, placing any loan amount above this threshold in the jumbo category. Jumbo loans are designed for financing properties beyond the reach of conventional conforming loans, typically set at $647,200 in most counties following the Federal Housing Finance Agency’s (FHFA) guidelines.

Jumbo Loan Benefits and Considerations

Jumbo loans come with more stringent qualification criteria due to their non-conforming nature—they aren’t secured by government-sponsored entities like Fannie Mae, Freddie Mac, or the FHA, but by private investors. The lack of standardized guidelines means that these loans are often shaped by investor requirements. However, the current climate of historically low rates and tax deductibility on loans up to $1,000,000 make jumbo loans an attractive option for financing premium properties.

Explore Your Loan Options with HomeTown Lending

Whether you’re in the market for an FHA, VA, USDA, or a jumbo loan in Texas, our team at HomeTown Lending is equipped to guide you through the process. Contact us to discover how our jumbo mortgage rates can help you secure the luxury Texas home of your dreams.