What is a Jumbo Loan?

A Jumbo Loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. In most parts of the country, including New Jersey, the conforming limit for a single-family home is typically around $766,550 (subject to annual changes). If you need to borrow more than this limit, a jumbo loan is required.

These types of loans are ideal for:

• Purchasing a luxury or high-end home

• Financing a property in a competitive real estate market

• Investing in a large primary residence, vacation home, or multi-unit property

Because jumbo loans carry greater risk for lenders, they often have more stringent qualification requirements—but with the right guidance, they can be easily navigated.

Key Features of Jumbo Loans

At Tony Fahim Mortgage, we offer jumbo loan programs with a range of features designed to fit your financial profile:

• Loan amounts exceeding conforming limits

• Fixed-rate and adjustable-rate options (ARM)

• Competitive interest rates

• Flexible terms and repayment plans

• Available for primary residences, second homes, and investment properties

• Low down payment options for qualified borrowers

Who Qualifies for a Jumbo Loan?

Because of the higher loan amount, jumbo loans typically require a more detailed financial review. Here’s what most lenders look for:

• Strong credit score (usually 700 or above)

• Low debt-to-income (DTI) ratio

• Proven income stability and documentation

• Larger cash reserves or assets

• A higher down payment (typically 10% to 20%)

At Tony Fahim Mortgage, we understand that every borrower’s situation is unique. We take the time to assess your financial profile and match you with a loan product that aligns with your long-term goals.

Benefits of Choosing a Jumbo Loan with Tony Fahim Mortgage

• Local New Jersey Expertise – We understand the NJ real estate market, from Bergen to Passaic County and beyond.

• Personalized Loan Solutions – No cookie-cutter mortgages here. We create a custom approach just for you.

• Access to Top Lenders – As part of Nexa Mortgage, we have access to an extensive network of lenders offering highly competitive jumbo loan products.

• Guidance from Start to Finish – From pre-approval to closing, we’re by your side every step of the way.

• Fast, Efficient Process – We streamline the application and underwriting process so you can move into your dream home faster.

Is a Jumbo Loan Right for You?

If you’re planning to buy a home that exceeds conforming loan limits or need more flexible financing options for a high-value property, a jumbo loan might be the best fit. Our team will walk you through all your options and help you make an informed decision based on your financial situation and real estate goals.

Let’s Talk About Your Options

Have questions about jumbo loans or ready to get pre-approved? Contact Tony Fahim Mortgage today to explore your financing opportunities with a team that puts your needs first.