Searching for your ideal home may seem like a never-ending process. But sometimes that’s the easy part. There’s a good chance the mortgage approval process may be more difficult, especially when you’re looking for a loan in a much larger size – a jumbo loan. Luckily, Steve Avrus, a mortgage guru at Avrus Financial & Mortgage Services, can help you.
Steve Avrus started in the mortgage industry at Sun Mortgage Company, May of 1978. With 36 years of experience under his belt, Avrus takes on the daily tasks required of a mortgage lender and broker. He helps assists residents of Florida and Georgia interested in buying or selling a home, those looking for an affordable mortgage financing rates, and investors yearning to flourish in the mortgage realm by connecting them with a licensed loan specialist at Avrus Financial & Mortgage Services.
Since Avrus Financial & Mortgage Services opened in 1982, Avrus and his colleagues have helped families seeking jumbo loan rates for Florida and Georgia mortgages.
A jumbo loan pertains to any loan over $417,000. To be approved, the borrower must meet
certain criteria set forth by the lender.
Lenders may place restrictions on the type of property for which they will offer a jumbo loan. But, typically a jumbo loan is used for your home and lasts for at least seven months of the year.
Also, due to the high loan cost, lenders will require a down payment—usually 20%.
Your income plays an important role in the borrowing process. Lenders want to ensure you are financially stable enough to pay your jumbo loan and usually request a two-year income history. Also, in the majority of cases, lenders will require a monthly mortgage payment of roughly 38% of your income prior to taxes.
With his expertise and intelligence in mortgages, Steve Avrus will help bring you the best combination of rates, terms and fees for your jumbo mortgage in Florida or Georgia by directing you to an Avrus Financial & Mortgage Services loan specialist. Avrus will work hard to match or, better yet, beat what lenders estimate in writing.
