Thomas McGee
California Real Estate Broker
(877) 708-1238
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You are here: Home / Neighborhoods / Jumbo

Jumbo

Jumbo

Jumbo Loans

A jumbo loan (or jumbo mortgage) is a type of financing where the loan amount is higher than the conforming loan limits set by the Federal Housing Finance Agency (FHFA).

The 2022 loan limit on conforming loans for 1-unit properties is $647,200 in most areas and $970,800 in high-cost areas. For borrowers interested in purchasing more expensive properties, jumbo loans are a valuable alternative.

If you are buying a one-unit primary property with a loan amount of up to $2 million, you will need to have a minimum median FICO® Score of 680 and a minimum down payment of 10.01%.

The maximum debt-to-income ratio must be no higher than 45%.

What you need to qualify for this loan will depend on what type of jumbo loan you are getting and the amount you need to borrow:

  • Home purchase
  • Rate or term refinance
  • Cash-out refinance
  • Investment property purchase or refinance
  • Land purchase

Golden Valley Financial Realtors

Thomas McGee
Real Estate Broker
DRE #01190429
NMLS#1745768
Thomas@goldenvalleyfinancial.com
(877) 708-1238
2955 3rd Ave Suite 202
Sacramento CA, 95817
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Thomas McGee

Thomas McGee is a real estate agent with Golden Valley Financial in Elk Grove, California. Thomas's coverage area includes Greenhaven, Sacramento, Elk Grove, Galt, Lodi and Stockton. HomeLight ranks Thomas as one of the top 17% of agents who sell homes fast and as one of the top 6% of agents who sell homes for top dollar. HomeLight has information on 7 of Thomas's transactions since 2010. Thomas typically represents the buyer (85% of the time), but has also completed 1 seller transactions during this period. Thomas has been most prolific in Sacramento including representing the seller of a single family home that sold for $190,000 in one transaction and a buyer of a single family home that sold for $102,199 in another.
Meet Thomas McGee
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