{"id":3624,"date":"2021-05-10T20:30:51","date_gmt":"2021-05-10T20:30:51","guid":{"rendered":"https:\/\/www.fmloans.com?p=3624"},"modified":"2023-09-15T13:12:49","modified_gmt":"2023-09-15T13:12:49","slug":"financing-a-high-end-property","status":"publish","type":"post","link":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/","title":{"rendered":"Financing a High-End Property"},"content":{"rendered":"\n<p>Are you in the market for a home and have your sights set on a higher-priced property? If the dream home you are looking for has an expensive cost or is located in a higher-priced neighborhood, you may want to look into financing the home with a jumbo loan. If you are looking to buy a luxury home in the areas of Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, Foundation Mortgage can help. Contact us today to learn more about financing your home with a jumbo loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Jumbo Loans: Essential Information<\/span><\/span><\/h2>\n\n\n\n<p>A <a href=\"https:\/\/www.fmloans.com\/loan-options\/jumbo-home-loans\/\">jumbo loan<\/a> is a mortgage that is too expensive to be classified as a conventional conforming loan, and therefore is considered a \u201cnon-conforming\u201d loan. Fannie Mae and Freddie Mac are government-sponsored entities that purchase conforming loans from lenders and resell them to other investors, and they determine the dollar amount that constitutes a conventional conforming loan. The current conforming loan limit is set at $548,250, and if the loan a borrower needs exceeds that amount, then a non-conforming jumbo loan will be required in order to finance a home. Jumbo loans are riskier for lenders because they aren\u2019t guaranteed a reimbursement if a borrower defaults on a loan, therefore, jumbo loans have strict application requirements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Benefits of a Jumbo Loan<\/span><\/span><\/h2>\n\n\n\n<p>There are several benefits to obtaining a jumbo loan if you are able to meet the requirements. First of all, you will still be able to receive competitive interest rates and could have the option to refinance the mortgage for a better rate later on. With a jumbo loan, you are able to take out a high loan amount since the loan amount exceeds the Fannie Mae and Freddi Mac restrictions. With this type of loan, borrowers are able to purchase higher-end luxury homes, investment properties, or vacation homes, and private mortgage insurance is typically not required with a jumbo loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Jumbo Loan Requirements<\/span><\/span><\/h2>\n\n\n\n<p>The requirements for a jumbo loan are more stringent for borrowers because of the substantial amount of money involved and the amount of risk they pose to most lenders. The typical qualifications for applying for a jumbo loan include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A credit score of at least 700 or higher<\/li>\n\n\n\n<li>A considerable amount of cash reserves, (enough to cover several mortgage payments)<\/li>\n\n\n\n<li>A low debt-to-income ratio, (DTI), ideally 43% or lower<\/li>\n\n\n\n<li>Necessary financial documentation that proves evidence of your income, assets, tax documentation, etc.<\/li>\n\n\n\n<li>Private mortgage insurance will not be required if you pay a 20% down payment<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"color: #3c78d8;\"><span style=\"font-size: large;\">Financing Your Dream Home With a Jumbo Loan<\/span><\/span><\/h2>\n\n\n\n<p>If you are in the market for a higher-priced luxury home, and need an additional financial boost to help you make the purchase with a jumbo loan, the <a href=\"https:\/\/www.fmloans.com\/meet-the-team\/\">loan specialists<\/a> at Foundation Mortgage can help. If you are located in the areas of Knoxville, Maryville, Lenoir City, Oak Ridge, or Gatlinburg, Tennessee, contact our office today for a consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you in the market for a home and have your sights set on a higher-priced property? If the dream home you are looking for has an expensive cost or is located in a higher-priced neighborhood, you may want to look into financing the home with a jumbo loan. If you are looking to buy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3229,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-3624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans<\/title>\n<meta name=\"description\" content=\"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"og:description\" content=\"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Foundation Mortgage l Knoxville TN Home Loans\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-10T20:30:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T13:12:49+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\"},\"headline\":\"Financing a High-End Property\",\"datePublished\":\"2021-05-10T20:30:51+00:00\",\"dateModified\":\"2023-09-15T13:12:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\"},\"wordCount\":482,\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"articleSection\":[\"blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\",\"name\":\"Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans\",\"isPartOf\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\"},\"datePublished\":\"2021-05-10T20:30:51+00:00\",\"dateModified\":\"2023-09-15T13:12:49+00:00\",\"description\":\"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!\",\"breadcrumb\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/integrumresources.com\/fmloans\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financing a High-End Property\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#website\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#organization\",\"name\":\"Foundation Mortgage l Knoxville TN Home Loans\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"contentUrl\":\"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png\",\"width\":1040,\"height\":254,\"caption\":\"Foundation Mortgage l Knoxville TN Home Loans\"},\"image\":{\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/integrumresources.com\/fmloans\"],\"url\":\"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans","description":"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans","og_description":"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!","og_url":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/","og_site_name":"Foundation Mortgage l Knoxville TN Home Loans","article_published_time":"2021-05-10T20:30:51+00:00","article_modified_time":"2023-09-15T13:12:49+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#article","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/"},"author":{"name":"admin","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3"},"headline":"Financing a High-End Property","datePublished":"2021-05-10T20:30:51+00:00","dateModified":"2023-09-15T13:12:49+00:00","mainEntityOfPage":{"@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/"},"wordCount":482,"publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"articleSection":["blog"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/","url":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/","name":"Financing a High-End Property - Foundation Mortgage l Knoxville TN Home Loans","isPartOf":{"@id":"https:\/\/integrumresources.com\/fmloans\/#website"},"datePublished":"2021-05-10T20:30:51+00:00","dateModified":"2023-09-15T13:12:49+00:00","description":"Learn more about financing a higher-end property by taking advantage of a jumbo loan. Contact Foundation Mortgage Company today to see if you qualify!","breadcrumb":{"@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/integrumresources.com\/fmloans\/financing-a-high-end-property\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/integrumresources.com\/fmloans\/"},{"@type":"ListItem","position":2,"name":"Financing a High-End Property"}]},{"@type":"WebSite","@id":"https:\/\/integrumresources.com\/fmloans\/#website","url":"https:\/\/integrumresources.com\/fmloans\/","name":"Foundation Mortgage l Knoxville TN Home Loans","description":"","publisher":{"@id":"https:\/\/integrumresources.com\/fmloans\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/integrumresources.com\/fmloans\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/integrumresources.com\/fmloans\/#organization","name":"Foundation Mortgage l Knoxville TN Home Loans","url":"https:\/\/integrumresources.com\/fmloans\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/","url":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","contentUrl":"https:\/\/integrumresources.com\/fmloans\/wp-content\/uploads\/2023\/07\/logo-header.png","width":1040,"height":254,"caption":"Foundation Mortgage l Knoxville TN Home Loans"},"image":{"@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/513d096a10f151aa7a9063d85dc6fbd3","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/integrumresources.com\/fmloans\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6d8b111021dde27c16faded20910d52d9b199c5a5c66b618c68c2439505b5a41?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/integrumresources.com\/fmloans"],"url":"https:\/\/integrumresources.com\/fmloans\/author\/webadmin\/"}]}},"_links":{"self":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/comments?post=3624"}],"version-history":[{"count":2,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3624\/revisions"}],"predecessor-version":[{"id":8870,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/posts\/3624\/revisions\/8870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/media?parent=3624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/categories?post=3624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/integrumresources.com\/fmloans\/wp-json\/wp\/v2\/tags?post=3624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}