Jumbo Loan Program, Rates and Requirements

If you're planning to purchase or refinance a high-priced home in New Mexico, Home Point Financial’s Jumbo Loan Program may be a good fit.

Jumbo loans are for borrowers looking to buy or refinance a home that exceeds conforming loan limits (the limit on conforming loans is $424,100 in most areas of the country). Home Point Financial’s  Jumbo program is an excellent way to buy a luxury home.

Home Point Financial offers a suite of Jumbo loan products for New Mexico home buyers – Premiere, Select and Choice. Through these options, our customers in NM are provided choices in structuring their loan based on eligibility. With each choice, flexibility with eligibility requirements are considered.

Jumbo Loan Requirements in New Mexico

Jumbo loan borrowers often have a lower debt-to-income ratio, a higher credit score, and a larger down payment. Home Point Financial offers three Jumbo Loan Programs in New Mexico.

Jumbo Premiere Program

  1. FICO credit score minimum: 680
  2. Finance up to $2 million
  3. New Mexico investment properties are eligible
  4. Max LTV/CLTV is 85%

Jumbo Select Program

  1. Additional eligibility flexibility over Premiere
  2. FICO credit score minimum: 700
  3. Finance up to $2.5 million for your New Mexico home
  4. Investment properties are eligible
  5. First-time home buyers are eligible
  6. Max LTV/CLTV is 85%

Jumbo Choice Program

  1. Additional eligibility flexibility over Premiere and Select options
  2. FICO credit score minimum: 661
  3. Finance up to $2.5 million
  4. Investment properties are eligible
  5. Non-warrantable condos are allowed
  6. Non-occupant co-borrowers are allowed
  7. Max LTV/CLTV is 90%

NM Jumbo Loan Terms

Our New Mexico Jumbo loan term options include:

  1. 10 Year Jumbo Loans
  2. 15 Year Jumbo Loans
  3. 20 Year Jumbo Loans
  4. 25 Year Jumbo Loans
  5. 30 Year Jumbo Loans
  6. Jumbo ARM Terms: 5, 7 and 10-year ARM options are also available in New Mexico

Apply For Your New Mexico Jumbo Loan

Home Point Financial is a licensed New Mexico lender offering robust Jumbo loan options for home buyers. Contact us today to learn more!