More About Jumbo Loans
With rising home values in Hawaii, it can be difficult to buy your dream home using a conforming loan. Conforming loans for single family homes are only available for loan amounts up to $765,600 so a Jumbo loan may be the right choice for you. Rates for jumbo loans from ASB are competitive and are available for both fixed rate and adjustable rate programs.
A Jumbo Loan may be a good option for:
- A fixed or adjustable mortgage in Hawaii
- Loan amounts greater than $765,600
- New home purchases or refinancing
Jumbo Loan Alternatives
You may also use our Jumbo Loans simulatenously with our Second Mortgage or Home Equity Loan Programs to help with a low down payment requirement and eliminate the need for private mortgage insurance.
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PROGRAMS AND RESOURCES
First Time Home Buyer
Refinancing a Mortgage
Land and Home Construction Loans
U.S. Department of Veteran's Affairs (VA) Loan
U.S. Department of Agriculture (USDA)/Rural Development Loan
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Home Equity Line of Credit
APR stands for “Annual Percentage Rate” and represents the price you pay to borrow money. APR is a broader measure than interest rate because it includes the interest rate plus other costs such as lender fees, closing costs and insurance. You can use APR to compare loans offered by different lenders when shopping for a mortgage loan.
For example, based on a purchase price of $500,000; loan amount of $400,000 (20% down payment; 80% loan-to-value); interest rate of 4.00% and 1.00% points, the monthly principal and interest payment on a 30-year fixed rate mortgage would be $1,909.66 and an APR of 4.119%. Keep in mind your mortgage loan monthly payment will be higher as lenders typically include proerpty tax and insurance costs.
Jumbo loans are any loans over $765,600. Conforming loans are any loans under $765,600 and are subject to loan amount limits that are periodically set by Frannie Mac® and Freddie Mac®.
Getting pre-qualified is highly recommended since many sellers require a pre-qualification letter from a reputable lender. Plus, during the pre-qualification process your ASB Loan Officer will help you determine the appropriate price range before you go house hunting.
Loan programs and products are subject to loan qualification, credit policy and underwriting standards for the respective program or product. Certain terms, conditions and restrictions may apply. Programs/products subject to change or discontinuation without notice.
Fannie Mae® is a registered trademark of the Federal National Mortgage Association. Freddie Mac® is a registered trademark of the Federal Home Loan Mortgage Corporation.
*This offer cannot be combined with any other promotional discounts, long-term rate lock specials, or new project financing rates unless otherwise specified.