The Mortgage Network: Brian Quigley

3 Effortless Reasons Nationwide High Balance Loans are better than Jumbo Loans

October 30, 2019
Brian Quigley

How can you get a loan for a new home purchase that is better then a jumbo loan if purchasing a home under $800,000? Simple, use Nationwide High Balance Loans, don't get a jumbo loan.

Rates on a Nationwide High Balance loan are almost a full percentage point better, and you will not have the demanding reserve requirements of a jumbo loan, which usually can be up 12 months of reserves in your account.

This program comes in handy, especially in Austin, Texas where the home buying has absolutely exploded, and the increase in home values, is making this loan the next best choice, when financing above the Travis County loan amount limit, which is $484,350.

Bicycle leaning up against the garage door.

3 Reasons to Use Nationwide High Balance Loans

The following 3 Reasons to choose the Nationwide High Balance loan make it the clear winner, in comparison to a standard jumbo loan.

1. Cheaper Rates

Rates will usually be around a full percentage point lower in comparison to a jumbo rate. This program will lend up to 90% down to a 680 score for owner occupied purchase up to a $726,525 loan amount. This will save you thousands in interest over the life of your loan, if you were to choose this vs a jumbo loan.

Young Couple Looking at Construction Documents

2. No Reserve Requirements

As long as you get a DU/Approve/Ineligible on the initial loan approval, then you will not be further conditioned for reserves, like a standard jumbo loan. If you are putting aside $78,000 for a 10% purchase on a $800,000 home, you might not have another $30,000 or so sitting around, which would be a further requirement with a jumbo loan.

Young couple closing on a home mortgage using Nationwide High Balance Loans.

3. Flexible Credit Terms

This program will lend 90% down to a 680 score up to a loan amount of $726,525. Good luck finding that with a 10% down jumbo loan, and if you do find it, the rate will be awful, more then likely. A 680 is a good score, and not hard to achieve. Have a 720 or 740 with 10% down jumbo, might be a little more challenging, however still, the rate ultimately will be lower on a Nationwide High balance loan.

Older couple meeting with mortgage broker.

As you have read in the above article, the Nationwide High Balance loan is the program you should be looking at, especially if you are not wanting all of the additional requirements needed for a jumbo loan. With home prices continuing to rise in Denver, CO and Austin, TX, this is the clear winner mortgage.

Questions About Mortgages and Lending?
 Contact Brian Quigley for Help 

Brian Quigley
Hello, my name is Brian Quigley and I have been a mortgage broker in Denver, CO since 2003. I have been fortunate enough to choose this very rewarding mortgage broker career and help thousands of borrowers over the years. Customer satisfaction is important to me most, and getting my clients to the closing table smoothly. I am proficient in all types of mortgage financing including FHA/VA, Conventional, USDA, Jumbo, Portfolio, 1031 Exchanges, Reverse Mortgages, Construction loans, and FHA 203K loans.

The Mortgage Network: Brian Quigley

600 S Cherry Street #143
Denver, CO 80246
Get Directions


Monday: 8:00 AM – 6:00 PM
Tuesday: 8:00 AM – 6:00 PM
Wednesday: 8:00 AM – 6:00 PM
Thursday: 8:00 AM – 6:00 PM
Friday: 8:00 AM – 6:00 PM
Saturday: 8:00 AM – 6:00 PM
Sunday: 8:00 AM – 6:00 PM

Connect with Brian


copyright © 2020
closehomemap-markerphonebarsenvelopechevron-circle-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram