Jumbo
Jumbo
Dreaming of purchasing a higher-priced property or luxury home? ASCEND Lending makes it possible with our jumbo loans.
What is a
Jumbo Loan?
A jumbo loan is a type of financing used to purchase properties that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These loans are used to finance higher-priced properties that surpass the limits established for conventional conforming loans. These limits vary by state and county, but for most parts of the country, the 2023 conforming loan limit for a single-family home is $726,200.
Product Features
Higher Loan Amounts
It provides financing for properties that require borrowing amounts higher than the conforming loan limits established by Fannie Mae and Freddie Mac.
Larger Down Payments
Down payment requirements can vary but often range from 10% to 20% of the property's purchase price
Available for Different Property Types
Down payment requirements can vary but often range from 10% to 20% of the property's purchase price
