Homebuyers in Wisconsin have newly expanded Jumbo mortgage options and loan amount limits. The reduced down payment programs offer eligible and approved borrowers financing options up to 95%.
Mortgages are categorized as Jumbo if the loan amount exceeds $510,400, this has increased from last years limit of $484,350. This is good news for buyers that want to purchase in more expensive locations of Milwaukee, Green Bay or Madison.
The continued expansion of 90% and 95% low down payment options are perfect for borrowers seeking financing without 20% down. Each program does have limitations and basic requirements which we will review below. Please contact us 7 days a week with questions, or to learn more about applying. Buyers can simply call the number above or just the Quick Contact form on this page for fast service.
Wisconsin 5% Down Jumbo:
- $2,000,000 loan limit
- 680 credit required. If the loan amount exceeds $1.5mil, 740 credit will be needed
- Owner occupied and second home properties eligible. Single Family, townhomes, most condos
- 30 or 15 Fix Rate, or common adjustable rate terms with no PMI
Wisconsin 10% Down Jumbo:
- $3,000,000 loan limit
- 680 credit required exact will depend on the overall loan amount. If the loan amount exceeds $2mil, 740 credit will be needed
- Owner occupied and second home properties eligible. Single Family, townhomes, most condos
- 30 or 15 Fix Rate, or common adjustable rate terms with no PMI
Buyers are encouraged to review more detailed lender requirements on the Jumbo Purchase page. Regular and Cash-Out refinance programs are also available.
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