Jumbo Mortgage Loans
When it comes to financing a higher value or luxury home, we make it easy with our Jumbo Mortgage.
Apply NowBenefits of an Argent Credit Union Jumbo Mortgage
Fixed Rates
Lock a competitive APR for the life of your loan.
Loans up to $2,000,000
Get the funds you need with up to 95% financing.
What You Need to Know About a Jumbo Mortgage Loan
A jumbo mortgage loan allows you to borrow higher amounts than other types of mortgages, so you can move into your dream home sooner.
Here are the details:
- You can borrow up to $2,000,000.
- You can finance up to 95% of the house’s value.
- You’ll need a minimum down payment of just 5%.
- A 30-year fixed-rate loan will make the repayment affordable and predictable.
- Jumbo mortgages are available for purchase and refinance.
- Applying is easy with no application or origination fees, only a low processing fee.
Federal agencies don’t back jumbo mortgage loans, so you don’t need to go through extra home appraisals like for FHA, VA, or USDA loans.
Jumbo Mortgage Rates
| Loan Type | Interest Rate | APR* |
|---|---|---|
| Jumbo Mortgage | As low as 7.125% | As low as 7.148%* |
Our Jumbo Mortgage Application Process Is Simple and Secure!
Apply Online
Get your documents ready then enter your details into our user-friendly online portal.Quick Review
A mortgage loan officer will let you know if you’re eligible for pre-approval by the next business day.Look for a Home!
Once pre-approved, you can start making offers and we’ll guide you all the way through to closing.Stress-free mortgage experience.
-Diane M.Y.
Seriously, Argent is the best bank I've ever been with. Thank you guys for being consistent, friendly, timely and helpful!
-Morgan-Taylor M., Chester VA
Advantages and Disadvantages of a 15-Year Mortgage
The 15-year fixed rate mortgage offers two big advantages for most borrowers:
- You own your home in half the time it would take with a traditional 30-year mortgage.
- You save more than half the amount of interest of a 30-year mortgage. Lenders usually offer this mortgage at a slightly lower interest rate than with 30-year loans – typically up to .5% lower. It is this lower interest rate added to the shorter loan life that creates real savings for 15-year fixed rate borrowers.
The possible disadvantages associated with a 15-year fixed rate mortgage are:
- The monthly payments for this type of loan are roughly 10 percent to 15 percent higher per month than the payment for a 30-year.
- Because you’ll pay less total interest on the 15-year fixed rate mortgage, you won’t have the maximum mortgage interest tax deduction possible.
Compare Them Yourself
Use the “How much can I save with a 15 year mortgage?” calculator in our Resource Center to help decide which loan term is best for you.
How will a past bankruptcy or foreclosure affect my ability to obtain a new mortgage?
If you’ve had a bankruptcy or foreclosure in the past, it may affect your ability to get a new mortgage. Unless the bankruptcy or foreclosure was caused by situations beyond your control, we will generally require that two to four years have passed since the bankruptcy or foreclosure. It is also important that you’ve re-established an acceptable credit history with new loans or credit cards.
I’ve had a few employers in the last few years. Will that affect my ability to get a new mortgage?
Having changed employers frequently is typically not a hindrance to obtaining a new mortgage loan. This is particularly true if you made employment changes without having periods of time in between without employment. We’ll also look at your income advancements as you have changed employment.
If you’re paid on a commission basis, a recent job change may be an issue since we’ll have a difficult time of predicting your earnings without a history with your new employer.
