Jumbo Mortgage Loans - Getting Approved for a Jumbo Mortgage Loan Online

Getting approved for a jumbo mortgage loan online is similar to getting approved for a traditional mortgage when you use a mortgage broker. However, you can expect to find lower interest rates online with better terms.

Choose Your Type Of Jumbo Mortgage Loan

Jumbo mortgage loans offer as many financing options as a conventional mortgage loan. You can pick from a fixed-term loan to an ARM with one to ten years until rates lock in. You can also put zero down, have unverified income and assets, or no ratio test.

Before you apply for a jumbo mortgage loan, determine which type of loan is best for your situation. You can read up on loan terms on mortgage brokers' websites.

Shop Rates And Fees

Since jumbo mortgage loans can't be sold off to Fannie Mae or Freddie Mac, you can expect to pay slightly higher rates, as little as 1/8% more than a conventional mortgage loan.

Just like with a traditional mortgage, it pays to compare rates and fees to find the best mortgage. Request quotes from a mortgage broker before deciding on a jumbo mortgage lender. Also, request information on the fees included in the loan, which must be disclosed according the federal law.

Tips For Quick Approval

To speed up your application process with a mortgage lender, complete as much information online. Applications completed online are fed directly into the lender's databases, which can then be verified almost instantly.

Also be sure to complete the application. Any fields left blank or only partially completed will cause a delay in the process as a person will have to verify and correct the information. And, double-check for any spelling errors in your application, which will result in the databases not correctly matching your information with the lender's sources.

After Mortgage Approval

After you are approved for you jumbo mortgage, continue to keep in touch with the mortgage lender throughout the process. Email and phone calls replace office visits and ensure funds are process on time. You can also avoid any problems by submitting needed information about the property before you receive the request in the mail.

To view our list of recommended mortgage lenders online, visit this page: Recommended Mortgage Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website online about various types of loans.

---

Home Equity Loans ? A Big Benefit Or A Big Mistake?

When the bills are piling up and there doesn't seem... Read More

The Real Truth About Those: Online Get a Better Loan Web Sites - 6 Things to Look For

You have seen the Commercials on TV go this or... Read More

Refinancing Your Home - Is the Time Right?

Refinancing your home is a major decision not to be... Read More

Tips for First Time Home Buyers

When looking at tips for first time home buyers, you've... Read More

Home Equity Loan ? With a Reverse Mortgage, Your Home Pays You!

The home equity loan has become quite popular in the... Read More

Buying a Home With Bad Credit - Get Approved With a Recent Bankruptcy or Foreclosure

A few years ago, if you had a bankruptcy or... Read More

Applying for a Home Mortgage Loan Online - The Pros and Cons

If you have considered applying for a home loan mortgage... Read More

Good FICO Credit Score? Tips to Getting the Most Out of Your Home Mortgage Loan With Good Credit

Sometimes so much is talked about how to solve the... Read More

What is a Flexible Mortgage?

'Flexible mortgage' is a term that's used a lot, but... Read More

Should You Choose to Refinance?

Refinancing has become a valid option for many individuals with... Read More

Financing the Purchase of Foreclosed Homes

Homes that have been foreclosed can be one of the... Read More

Option One Mortgage Loans ? Getting an Option ARM or Option One Mortgage Loan

Have you heard about or been interested in finding out... Read More

What On Earth are Home Equity Loans?

Home equity loans are one of the most common types... Read More

Selling Your Business Note

Before I go further, let me ask a question- if... Read More

Benefits of a Remortgage

There are many benefits in choosing a remortgage, some of... Read More

Kings Bay Saint Marys & Kingsland Georgia - Affordable Home Mortgages

Buying a home is usually the largest purchase any of... Read More

Avoiding Foreclosure

If you fall behind in your mortgage payments, you face... Read More

Who Could Benefit From A Reverse Mortgage?

What is a "Reverse Mortgage?"Also known as a Home Equity... Read More

Are You Ready for a 40-year Mortgage?

Real estate prices have been increasing steadily over the last... Read More

A Simple Way to Save Thousands on Your Mortgage Charges

How many times do you check you restaurant bill? If... Read More

Getting The Best Rates On Mortgages And Loans

With an impending up-grade to the family due in a... Read More

Home Equity Loans Popular Scams

Most borrowers fail to realize that when trading their much... Read More

Home Equity Loans Company ? 7 Key Questions to Help You Choose One

Choosing the right home equity loan can be tricky; you... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where... Read More

Reverse Mortgage Maximization

Have your home's appreciation grow twice as fast.For Seniors over... Read More

Where To Find The Best Rates For Your Mortgage?

As with all of my articles this will be based... Read More

Home Equity ? Let the Market Eliminate Your Private Mortgage Insurance

In decades past, most people who were interested in obtaining... Read More

Bad Credit Mortgage Loans ? How To Get Approved

Persistence is the key working toward getting approved for a... Read More

Thinking About Refinancing Your Loan?

Refinancing your home or property is a big decision that... Read More

Understanding Mortgage Points

When a mortgage broker asks a borrower to pay points,... Read More

Buying a Home when Rates go Up

Many people fret the rising tide of interest rates. You'll... Read More

5 Home Buying Essentials

Purchasing a home involves certain important, even essential, steps that... Read More

How To Turn Disadvantages Of A Reverse Mortgage To Your Advantage

When it comes to a reverse mortgage, wise consumers weigh... Read More