BayCoast Mortgage Conventional & Jumbo Loans
When it comes to buying a home, a conventional loan or a jumbo loan are typically the go-to lending options to help you achieve your homeownership goals. We offer a variety of mortgage loans that may be just right® for your life and financial needs.
Fixed Rate Loans
Our fixed-rate loans fall under Fannie Mae (FNMA) and Freddie Mac (FHLMC) guidelines and have a set interest rate for the life of the loan. You can use these traditional loans for a primary residence, second home, or investment property featuring one to four units. Typically, our fixed-rate loans come with a 30-year term, and they’re perfect for homeowners who want protection from market volatility as well as greater payment predictability.
Adjustable-Rate Mortgages (ARMs)
Like our fixed-rate loans, our adjustable-rate loans fall under Fannie Mae and Freddie Mac loan limits and guidelines. However, instead of a fixed rate for the life of the loan, ARMs feature an interest rate that will change over the course of the loan’s terms, based on indices or buydown points, contract terms, and market rates. You can use an ARM to finance a primary residence, second home, or an investment property with one to four units. Many people choose an adjustable-rate mortgage because they offer a lower initial interest rate. This type of mortgage may best suit a homeowner who plans to sell the home within a few years after purchase, thereby taking advantage of the loan’s initial low rate.
Our medical loans are made exclusively for people who work in the medical industry. If you’re a medical resident, surgeon, dentist, doctorate, or equivalent, you may qualify for this type of loan. Our medical loan offers up to 100% financing, an early close date 180 days before the start date and relaxed debt-to-income ratios for student loans. Future income may also be used as a qualifier.
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional, conforming loan. Conforming loan limits are adjusted by the Federal Housing Financing Agency (FHFA) from year to year to reflect changes in the average U.S. home price. If you require financing that is larger than the conforming loan limit, a jumbo loan may be an option for you. You can check the current conforming loan limits on the FHFA website. At BayCoast Mortgage, we offer our jumbo loans with adjustable and fixed interest rates, making it easy to find the right option for you.
Choose BayCoast Mortgage for Your Conventional & Jumbo Loan Needs
With our wide selection of conventional and jumbo loans, we’re confident we can help you find the perfect loan for your financial goals. Whether you’re looking to purchase your first home or are looking to buy investment property, our team is ready to help you. Aside from our conventional and jumbo loan offerings, we also offer government loans and specialized mortgage loans, such as construction, home equity, and land loans.
If you have any questions, please feel free to contact us today or schedule an appointment with one of our mortgage professionals at any of our convenient locations. We look forward to working with you!