Jumbo Loans

Jumbo Loans

Jumbo loans were created for higher loan amounts that are above the Conforming and High Balance loan limits set by FHFA. The Federal Housing Finance Agency sets the Conforming and high Balance loan limits based of home values in the area and these limits are different in each State/County. We are here to help you identify the limits in the particular County that you’re interested in purchasing. Jumbo loans are not eligible to be purchased or guaranteed by Fannie Mae Or Freddie Mac and tend to have higher interest rates than Conforming and High Balance Loans.  These loans typically require higher credit scores and a larger down payment because Jumbo Loans carry a higher risk for banks. We offer loans up to $3,000,000 for financing your next home.

Jumbo Loan Eligibility

Generally speaking Jumbo loans require a minimum credit score of between 680-720 with good credit depth but, there may be some exceptions to that rule with compensating factors. The minimum required down is 10% (up to $1,500,000 loan amount) and 35% down (up to $3,000,000 loan amount). The debt to income ratio is between 38%-43% of gross income depending on the amount financed. Jumbo loans will also require payment reserves anywhere from 6-24 monthly payments in reserves(PITI).

Advantages of Jumbo Loans

The advantages of a Jumbo loan is that you have more buying power!

Do Jumbo Loans Require PMI?

Jumbo loans in most cases require a minimum of 20% down therefore, Private Mortgage Insurance would not required. Depending on the loan amount, a buyer may be able to secure a Jumbo loan with less than 20% down but the loan would be even more carefully underwritten to ensure repayment.

Apply for a Jumbo Loan

We offer loans up to $3,000,000 for financing your next home. We are a leading provider of Jumbo loans and are Located in Chula Vista, Andre Enriques Mortgage Banker - VA Loan Expert works with Jumbo loans around the county, including San Diego, National City, El Cajon, and surrounding areas. For more information about Jumbo loans contact us anytime.


Getting started is easy. We offer very competitive rates, have great service, and always close on time.

Best Mortgage companies in Chula Vista

Best Mortgage companies in Chula Vista


Andre Enriques
License # NMLS 220937
DRE # 01713544

Contact Us

Andre Enriques Mortgage Banker - VA Loan Expert, a dba of Anchor Funding Inc

Chula Vista Office
Phone: (619) 323-2066
Cell (619) 208-6499
891 Kuhn Drive, Suite #204
Chula Vista, CA 91914

San Diego Office
Phone: (619) 208-6499
6336 Greenwich Dr, Suite A
San Diego, CA 92122

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Equal Housing Lender

NOT ALL APPLICANTS QUALIFY. First Priority Home Loans is a DBA of Anchor Funding, Inc. is licensed by The
California Bureau of Real Estate #01276087. FHA Non-supervised lender #00257-0000-5
NMLS #1626581 & #236419
NMLS Consumer Access
Loans made or arranged pursuant to the California Department of Financial Protection and Innovation
California Finance Lenders Law license number 603 L293