Jumbo Loan in Indianapolis

Homebuyers in Indianapolis who are shopping for loans which conform to the limits set by Fannie Mae and Freddie Mac are in the market for what is known as a “conventional loan.” But what if the home you want to purchase is outside those limits? In that case, you are looking at buying a home with an Indianapolis jumbo loan.

When Is an Indianapolis Jumbo Loan Required?

In Marion County in 2022, these are the conforming loan limits:

• 1 unit: $647,200
• 2 units: $828,700
• 3 units: $1,001,650
• 4 units: $1,244,850
  • You may need to get two appraisals instead of one.
  • Credit score requirements are typically higher (700 and up).
  • There is less leeway with debt-to-income. The ratio typically needs to be 43% or less.
  • Down payments are usually higher.
  • You must demonstrate that you have some reserve cash on hand, generally around 6 months’ worth.

Even with more stringent requirements, there are some amazing opportunities out there if you know where to look. Many of our lenders are very flexible and are open to negotiating loan terms and requirements.

Grandview Lending Special Jumbo Loan Programs

Grandview Lending works with a network of mortgage lenders throughout Indianapolis who are willing to extend exclusive deals to homebuyers we refer. For qualified clients, we can provide combo loan packages that have low down payments equivalent to our conventional loans. We can also assist you with finding competitive Indianapolis jumbo mortgage rates.

We offer a special feature for 30-year jumbo, FHA and conventional loans called Down Payment Protection. This is the only next-generation mortgage program that protects up to the full amount of your down payment in the event of a loss from selling in a down market.* With this insurance, you protect your hard-earned assets, now and in the future. Anyone can offer a lower rate. But only Grandview can offer you a peace of mind.

There are some additional programs which we offer to homebuyers with special circumstances as well. If you happen to be a physician, you can qualify for excellent loan terms and rates through our doctor’s program.

Let Us Help You Find Competitive Rates on Indianapolis Jumbo loans

Ready to begin? Call us at (317) 255-0062 to discuss your needs with a loan specialist. We are here for you 7 days a week, and can’t wait to help you move into your perfect Indianapolis home.