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In the United States, a jumbo mortgage is a mortgage with a loan amount above the industry-standard definition of conventional conforming loan limits. This standard is set by the two largest secondary market lenders, Fannie Mae and Freddie Mac. Loans above the conforming limits may be offered by seller servicers of these wholesale institutions, as well as Wall Street conduits who provide warehouse financing for mortgage lenders. The loan amounts reflect average loan sizes nationwide. Jumbo mortgages apply when agency (FNMA and FHLMC) limits don’t cover the full loan amount. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase the bulk of residential mortgages in the U.S.
Jumbo mortgage loans present elevated risks for lenders due to the challenges associated with quickly selling luxury residences at full price in the event of default. Luxury property prices are more susceptible to market fluctuations, necessitating higher down payments from jumbo loan seekers to mitigate potential losses. Additionally, the subjective nature of jumbo home prices often prompts lenders to require multiple appraisals. Consequently, interest rates on jumbo mortgage loans tend to be higher compared to conforming loans, reflecting the increased risk to lenders. The spread between these rates fluctuates depending on market conditions, occasionally exceeding a full percentage point during periods of heightened investor anxiety.
In response to escalating housing prices, there has been a surge in jumbo loan applications, extending beyond high-end luxury residences to include more modest properties. To accommodate this trend, new loan programs have emerged, offering longer amortization periods or interest-only options to manage repayment over an extended timeframe. Popular programs like the 80/20 and 80/15 jumbo loan structures allow borrowers to avoid costly private mortgage insurance (PMI) by taking out a second mortgage at a slightly higher interest rate, effectively hedging risks for lenders while providing more favorable terms for borrowers.
Jumbo mortgage loan options are similar to traditional loan programs. They simply require a slightly higher down payment, usually of an additional 5% for similar program types. No-money-down programs are generally not available, but instead require a minimum of 5% down payment for a jumbo mortgage. Because the loans are large, jumbo lenders frequently offer variable loan programs to the jumbo client. The risk of an interest rate increase can result in a large dollar amount increase. Generally, adjustable rate mortgages are popular due to the low payment
- More than 1 rebuttal– Best believe that the telemarketer is allowed to use one rebuttal to a potential prospect’s comment (For example: not interested) the telemarketer is then allowed to use 1 rebuttal, if the prospect agrees and phone call is then completed with an understanding that the agent will call them back, it is specified as a good lead. If the prospect continues to state in that very call “they are not interested” then it will be credited.
- Similar transfer in any 30 days time span– If the same lead is delivered within 30 days we are bound to give you the credit for that lead.
- Over age 80– We will credit for any lead over age 80 (if someone else in house is interested and under age 80 we will not credit).
- Wrong Number– Wrong numbers will be credited. Generally this is a elementary typing mistake and can be corrected immediately.
- No voice recording– We will credit for leads that are delivered without a voice recording.
- Deceased– Any lead where the prospect has deceased.
All Live Transfers Credit requests will be entertained within 72 hours of the calls transferred that too on transfer request worksheet along with order number, lead details and valid reason for credit. Guidelines are subject to revision at any time.
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Our service offers various types of jumbo mortgage leads, including leads for high-value home purchases, refinancing of luxury properties, and other jumbo loan products, tailored to meet your specific business requirements
We utilize advanced lead generation techniques and verification processes to ensure that each jumbo mortgage lead is of high quality, connecting you with prospects genuinely interested in jumbo loan options.
Absolutely! We prioritize personalized support to help you effectively engage with jumbo mortgage leads, address their inquiries, and guide them through the jumbo mortgage application process with expertise and care.
Our jumbo mortgage leads typically include essential details such as contact information, property details, loan amount, current financial status, and other pertinent information to help tailor your services to their needs.
By leveraging our high-quality jumbo mortgage leads alongside your expertise in jumbo mortgage lending, you can enhance conversion rates by providing personalized financial advice, offering suitable jumbo loan options, and building trust with potential clients.
Getting started is simple! Reach out to our team to discuss your business goals and preferences, and we’ll collaborate with you to develop a customized lead generation strategy to help you succeed in the jumbo mortgage market.
Major Highlights of our Jumbo Mortgage Leads
- All Jumbo mortgage leads are non-incentivized, guaranteed.
- All Jumbo mortgage leads will have a valid phone number, guaranteed.
- All Jumbo mortgage leads will have been generated in the last 48 hours, guaranteed.
- All lead sources for Jumbo mortgage leads have been screened and quality checked to minimize bad leads.
- All Jumbo mortgage leads are “Do Not Call” and “CAN Spam” compliant.
- All Jumbo mortgage leads are sold on a semi-exclusive basis, up to three times depending on demand.
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