Jumbo Mortgage
When you need a bigger loan to buy a bigger home, a TSB Jumbo Mortgage can help you make your move.
Jumbo Mortgages For Higher Priced Connecticut Homes
For primary residences and second homes.
If you are purchasing a higher-priced home in Connecticut and need financing beyond conventional loan limits, a Jumbo Mortgage can provide flexibility to finance your home with one loan. Jumbo loans are available for qualified borrowers purchasing a primary residence or second homes.
When Is a Jumbo Mortgage Needed
- You’re financing a higher-priced primary home
- You need financing that exceeds conforming loan amounts
- You want a single mortgage instead of multiple loans
- You’re purchasing a luxury or second home
What To Expect When Applying
Our mortgage team, familiar with Connecticut’s housing market, will review your credit history, income, debt-to-ratio, and cash reserves along with additional qualification requirements to determine eligibility. Benefits include competitive fixed and adjustable-rate options, flexible terms, low fees and closing costs.
Is a Jumbo Mortgage Right For You
If you need financing beyond conventional loan limits this may be a good option to finance the home. Speak with your mortgage loan specialist to discuss whether a Jumbo Mortgage or another financing path is the best fit for your home purchase.
Explore Other TSB Mortgage Options
Construction Mortgage
A Torrington Savings Bank Construction Mortgage is a great option to finance home construction.
Buyer’s Boost
TSB Buyer’s Boost Mortgage Program allows well-qualified borrowers to get competitive rates with PMI waived even while putting as little as 10% down.
Conventional Mortgages
Torrington Savings Bank conventional mortgages offer great rates with flexible term options, and low fees & closing costs.
First Time Homebuyers
TSB helps first time borrowers become new homeowners with a special program designed to make buying a first home more affordable.
Jumbo Mortgage Details:
Minimum loan limit is $832, 751.00. Maximum loan limit $1,249,125.00. For loan amounts greater than $1,249,125.00, consult with a loan representative. Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% down payment. 60 day commitment. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Application fee on single family homes ranges from $839.83 to $958.94 up to $1,000,000.00. Over $1,000,000.00 application fee ranges from $1,760.54 to $1,879.65. Application fee includes cost of appraisal and credit reports. Single Family Homes, owner Occupied or Second Home, no Investment. Conventional LTV (loan to value) 80.01% to 97% may require PMI. No Prepayment Penalty. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home, FICO score of 700 minimum.
