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Is a property over $600k considered jumbo in scottsdale arizona?

by weirick.anders863377 from Scottsdale, Arizona. Jan 21st 2015 Reply


Jeremy Schachter (JeremySchachter)
#2 ranked lender in Arizona - 2 contributions

A loan amount of 417,001.00 and higher is considered jumbo. But, if you are purchasing a home at $600K and put down money to make the loan amount at $417,000.00, it would be considered conforming.Jeremy Schachter Pinnacle Capital Mortgage NMLS 148435 480.703.8088

Jan 21st 2015
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Joseph Afonso (jafonso)
#63 ranked lender in Arizona - 197 contributions

Yes , it is but if you qualify for a VA loan this will allow you to qualify without the guidelines that go along with Jumbo financing the other option is to do a first and second loan which then will allow you to max out on a conventional loan at 417K. Give me a call and we can discuss your options 602-531-7040.

Jan 21st 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

You can purchase any home you wish.. including a home valued at $600K, but if your financing more than $417K, it would be considered Jumbo.. I have a 90% Jumbo loan product and i'm local here to Scottsdale.. give me a call, i'd be happy to put some numbers together for you.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 21st 2015
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Yes for a conventional loan. It may also be referred to as High Balance as Fannie and Freddie will allow up to a 625,500 loan amount.

Jan 21st 2015
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David Kester (davidkester)
#76 ranked lender in Arizona - 23 contributions

Yes, any loan over $417,000 is considered a JUMBO loan. The required down payment is 20% on a JUMBO loans, however the rates currently on JUMBO or conventional are around the same rate.David A. Kester602-628-6500

Jan 21st 2015
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