Jumbo loan & Mortgage + home equity financing
Jumbo loan
Features
- A “non-conforming” loan with mortgage amounts above the maximum conforming loan limits.
- Available in a variety of fixed-rate and adjustable-rate loan options.
- You may be able to add extra mortgage features, such as a temporary buy down.
Benefits
- Obtain financing for loan amounts higher than the Fannie Mae and Freddie Mac conforming limits.
- Get the convenience of one loan for the entire loan amount.
- Choose from a variety of loan options.
Considerations
- You build equity at a slower pace because payments during the first several years go largely toward interest rather than the principal balance.
Mortgage + home equity financing
Features
- This loan pairs a “conforming” first mortgage with a home equity line of credit.
- The first mortgage is available in a variety of fixed-rate and adjustable-rate loan options — the home equity line of credit has a variable interest rate.
- You may be able to add extra mortgage features, such as a temporary buy down.
Benefits
- Have ongoing access to your available equity without reapplying.
- Choose whether your line of credit balance will be charged a variable- or a fixed-interest rate with our flexible fixed-rate advance option.
Considerations
- You will have to make two separate monthly payments.
- If you choose a variable interest rate for your line of credit balance, your monthly payments may increase or decrease as interest rates fluctuate. You can convert any or all of your outstanding variable-rate line-of-credit balance to a fixed-rate advance with a term of 1 to 20 years.