Do you have a taste for luxury homes over $766,550? Homes over this threshold are not eligible for conventional conforming loans and a special mortgage is required.
A Jumbo Loan is your solution to owning that luxurious home of your dreams. It is also referred to as a non-conforming conventional loan. These loans are not guaranteed by Fannie Mae and/or Freddie Mac but you can choose from 15 or 30 year terms, a cash-out refinance option, and no mortgage insurance, if you meet the jumbo loan requirements below.
Features & Benefits of a Jumbo Loan
- Loan Amounts Over $766,550
- Single Family Primary Residence or Second/Vacation Home
- Cash-Out Refinance Option
- No Mortgage Insurance
Jumbo Loan Requirements
- Minimum Credit Score of 660
- Max Debt to Income of 43%
- Max LTV/CLTV of 89.99%
- Maximum of 4 Financed Properties
- Reserve Requirements
Already know the type of home loan you are looking for?
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- Streamlined Application with a user-friendly, paperless application process.
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- Streamlined Application with a user-friendly, paperless application process.
- Real-Time Updates through instant notifications on your application milestones.
- Secure Document Uploading means no more lost paperwork or hassles!
Take control of your homeownership journey by downloading our
new American Bank & Trust Mortgage App.
Find Your Perfect Mortgage Loan Officer
A great home buying experience starts with great home buying partners. Meet your American Bank & Trust mortgage team and discover an outstanding group that truly lives at the intersection of what if and why not? With AB&T home loan experts, you’ve got neighbors you can always count on.
Looking for more information about Home Loans? Visit the South Dakota Housing Development Authority.
*APR (Annual Percentage Rate). Rates are subject to change without notice. Contact a Mortgage Loan Officer (MLO) at American Bank & Trust for current rates. This is not permanent financing. Loan subject to credit approval. Offer subject to end without notice. Some restrictions apply. Ask for details. American Bank and Trust NMLS# 774689.
