A jumbo mortgage is any mortgage above the conventional conforming loan limit ($647,200) set by the government.
Why choose DuPage Credit Union for your jumbo mortgage?
Get help with Jumbo Mortgages.
There are a few special requirements for a Jumbo Mortgages. Jumbo Mortgages can range range from $647,200 to $1,000,000. They require a minimum down payment of 20% (80% Loan-to-Value) and a minimum credit score of 740. This is a full-document loan.
Homeowners insurance required. We lend in all of Illinois on primary and secondary residence, Single-Family homes only. Minimum credit score of 720. Does not include 2-4 flat or apartment complex financing. Consult a tax adviser regarding deductibility of interest. Must be a Member in good standing. Other restrictions may apply.
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$647,200 minimum loan amount that is set by the government with a $1,000,000 maximum.
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The rate lock period is 50 days.