Jumbo Loan Program, Rates, and Requirements

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

Jumbo loans are for North Dakota 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 ND Jumbo program is one way to buy a high-priced or luxury home.

Home Point Financial offers a suite of Jumbo loan products for North Dakota home buyers – Premiere, Select and Choice. Through these three options, our customers in ND are provided choices in how they would like to structure their loan based on eligibility. With each choice, flexibility with eligibility requirements are considered.

Jumbo Loan Requirements in North Dakota

Jumbo loan borrowers often have a lower debt-to-income ratio, a higher credit score, and a larger down payment. Home Point Financial offers 3 Jumbo Loan Programs in North Dakota.

Jumbo Premiere Program

  1. FICO credit score minimum: 680
  2. Finance up to $2 million
  3. North Dakota 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 North Dakota 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%

ND Jumbo Loan Terms

Our North Dakota 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 North Dakota

Apply For Your North Dakota Jumbo Loan

Home Point Financial is a licensed North Dakota lender offering robust Jumbo loan options for home buyers. Contact us today to learn more about these options!