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Stepping Up to Your Dream Home: The Ins & Outs of Jumbo Loans

Liz Gibbs • December 8, 2023

In the journey toward homeownership, some dreams are bigger than others. If your aspirations lead you toward a luxurious home or a property in a high-cost area, a jumbo loan might be your gateway. Unlike standard loans, jumbo loans are designed to eye properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. At Eagle Mortgage, we specialize in navigating this unique path, ensuring your journey to luxury homeownership is as smooth and efficient as possible. Let's delve into the world of jumbo loans and how they can bring your grand home aspirations within reach.


Qualifying for Jumbo Loans


Jumbo loans come with their set of qualifications aimed at ensuring borrowers can comfortably manage the larger loan amounts:


  • Credit Score: A higher credit score is typically required, often around 700 or above.
  • Income and Assets: You'll need to provide proof of a solid and stable income and substantial assets to cover the down payment and reserves.
  • Down Payment: Expect to need at least 10-20% down, depending on the lender and the loan amount.
  • Debt-to-Income Ratio (DTI): A lower DTI ratio is preferred, indicating that you can manage your existing debt while taking on a larger mortgage.


Benefits of Choosing a Jumbo Loan


Opting for a jumbo loan to finance your dream home comes with its perks:


  • Access to Higher Loan Amounts: The most apparent benefit is the ability to borrow more than the conforming loan limits, essential for purchasing luxury properties.
  • Competitive Interest Rates: Despite the higher loan amounts, jumbo loans often come with competitive interest rates, sometimes even rivaling those of conventional loans.
  • Flexible Loan Terms: Lenders might offer more flexible terms for jumbo loans, including fixed-rate and adjustable-rate mortgage options to fit your financial planning.


Understanding the Risks


While jumbo loans open doors to luxury properties, they also come with considerations:


  • Higher Down Payments: The larger investment upfront can be a significant consideration.
  • Stricter Qualifications: The more rigorous qualifying criteria mean that not every buyer will be eligible.
  • Interest Rate Variances: Depending on market conditions, jumbo loans can have higher interest rates than conventional loans.


How Eagle Mortgage Can Help


Navigating the complexities of jumbo loans requires a knowledgeable and experienced partner. At Eagle Mortgage, we pride ourselves on our expertise in the luxury home market and our ability to tailor loan solutions to your unique needs. From understanding the ins and outs of qualifying for a jumbo loan to securing the best possible rates and terms, we're here to guide you every step of the way.


When it comes to purchasing a high-value property, the right financing makes all the difference. Jumbo loans offer a flexible and viable option for those looking to invest in a luxury home, providing the financial means to bring your grandest dreams to life. With Eagle Mortgage, you're not just applying for a loan; you're taking the first step toward securing your dream home. Let us help you navigate this journey with confidence and ease, ensuring your path to luxury homeownership is as rewarding as the destination itself.

Egg Roll Noodle Bowl

By Liz Gibbs • March 28, 2025
Prep Time Cook Time Yield 15 min 15 min 4 servings Ingredients 1 tablespoon sesame oil 1/2 pound ground pork 1 tablespoon soy sauce 1 teaspoon ground ginger 1/2 teaspoon salt 1/4 teaspoon ground turmeric 1/4 teaspoon pepper 6 cups shredded cabbage (about 1 small head) 2 large carrots, shredded (about 2 cups) 4 ounces rice noodles 3 green onions, thinly sliced Additional soy sauce, optional Directions In a large cast-iron or other heavy skillet, heat oil over medium-high heat; cook and crumble pork until browned, 4-6 minutes. Stir in soy sauce and seasonings. Add cabbage and carrots; cook until vegetables are tender, stirring occasionally, 4-6 minutes longer. Advertisement Cook rice noodles according to package directions; drain and immediately add to pork mixture, tossing to combine. Sprinkle with green onions. If desired, serve with additional soy sauce. Nutrition Facts 1-1/2 cups: 302 calories, 12g fat (4g saturated fat), 38mg cholesterol, 652mg sodium, 33g carbohydrate (2g sugars, 4g fiber), 14g protein. Diabetic Exchanges: 2 medium-fat meat, 2 vegetable, 1-1/2 starch, 1/2 fat.

Beer Batter Fish Made Great!

By Liz Gibbs • March 6, 2025
Prep Time: Cook Time: Total Time: Servings: 15 mins 15 mins 30 mins 8 Ingredients: - 2 quarts vegetable oil for frying - 8 (4 ounce) fillets cod - salt and pepper to taste - 1 cup all-purpose flour - 2 tablespoons garlic powder or to taste - 2 tablespoons paprika or to taste - 2 teaspoons salt or to taste - 2 teaspoons ground black pepper or to taste - 1 large egg, beaten - 1 (12 fluid ounce) can or bottle beer, or as needed Instructions: 1. Gather all ingredients. 2. Heat oil in a deep fryer to 365 degrees F (185 degrees C). Rinse cod fillets, pat dry, and season with salt and pepper. 3. Mix flour, garlic powder, paprika, salt, and pepper in a large bowl; add egg and stir well to combine. Gradually mix in enough beer to make a thin batter. 4. Dip cod fillets into the batter to coat. Carefully lower fillets, one at a time, into the hot oil. 5. Fry several fillets at a time, turning once, until cooked through and golden brown, about 2 minutes per side. 6. Drain on paper towels. Repeat to cook remaining fillets. Serve warm. Nutrition Facts (per serving) 448 Calories 30g Fat 23g Carbs 19g Protein

Broccoli Beef Braids

January 24, 2025
Prep Time Cook Time Yield 15 min 15 min 2 loaves (4 servings each) Ingredients: - 1 pound ground beef - 1/2 cup sour cream - 1/2 cup chopped onion - 1/4 teaspoon salt - 3 cups frozen chopped broccoli - 1/4 teaspoon pepper - 1 cup shredded part-skim mozzarella cheese - 2 tubes (8 ounces each) refrigerated crescent rolls Directions: 1) Preheat oven to 350°. In a large skillet, cook beef and onion over medium heat 6-8 minutes or until beef is no longer pink, breaking beef into crumbles; drain. Stir in broccoli, cheese, sour cream, salt and pepper; heat through. 2) Unroll 1 tube of crescent dough onto a greased baking sheet; form into a 12x8-in. rectangle, pressing perforations to seal. Spoon half the beef mixture lengthwise down center of rectangle. 3) On each long side, cut 1-in.-wide strips at an angle, from the edge to about 3 in. into the center. Fold 1 strip from each side over filling and pinch ends together; repeat. 4) Repeat with remaining ingredients to make second braid. Bake 15-20 minutes or until golden brown. Nutrition Facts 2 pieces : 396 calories, 23g fat (6g saturated fat), 48mg cholesterol, 644mg sodium, 29g carbohydrate (8g sugars, 2g fiber), 20g protein. recipe from Taste of Home - https://www.tasteofhome.com/recipes/broccoli-beef-braids/#RecipeCard
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