Austin Jumbo Loan

high-end home in Preston Hollow

The city of Austin, Texas is the capital of Texas and county seat of Travis County with a population of roughly 950,000. Austin was incorporated in 1839. Today, Austin is the home to the highly acclaimed University of Texas Longhorns.

With the numerous live music venues in South Congress, museums, parks, theaters, and 2nd Street District specialty shops and thriving job market, it should be no real shock that Austin has been among the fastest growing cities in the U.S. for almost a decade.

People want to move and stay here for a balanced life. According to the Austin Board of Realtors (ABoR), trends for Austin have the median home sales price at $470,000 and only on the market for 20 days. The current price represents a 29% increase from the previous 12 months. Home values in many luxury neighborhoods of greater Austin are much higher than the county's conforming limit. That means jumbo mortgage financing is required. A Jumbo loan in Texas is a loan that exceeds the conforming limit which is currently $647,200.

Chalk Knoll Drive home Barton Creek

Austin's priciest neighborhoods

The top luxury home communities in no particular order include

  • Barton Creek
  • Bryker Woods
  • Old West Austin
  • Downtown
  • Zilker
  • Bouldin Creek
  • Crestview
  • Gateway
  • Mount Bonnell
  • Stratford Hills
  • Tarrytown

Other popular affluent areas of Austin are Bee Caves (78738) Cortona, Ridgewood Village, Aqua Verde, and West Lake Hills (78746).

How to Qualify for an Austin Jumbo Loan?

If the property you want to buy or refinance needs a mortgage loan that exceeds the Texas conforming loan limitsin 2022, a jumbo loan is the best choice instead of a conforming loan and piggy-back second loan. The Austin Metro area is comprised of five counties; Bastrop, Caldwell, Hays, Travis, and Williamson.

To qualify, these factors below are the standard requirements most jumbo lenders analyze:

  • Credit scores above 680
  • Sufficient down payment or equity
  • Stable employement history W2 or Self-employed
  • Acceptable debt-to-income ratios
  • Required liquid cash reserves
  • Satisfactory loan-to-value ratio

Zilker Home .

Why Use an Austin Jumbo Loan Lender

  • Loan amounts as much as $10 million
  • Up to 95% LTV on a $1.5 million
  • 30-year fixed rate and adjustable rate choices
  • Limited to a maximum of 20 acres on residential properties
  • Loan officers who know their stuff

Self-employed Options

Bank statement loan for primary residences, second homes and investment homes. Minimum 10% down payment and 700 credit scores for as much as $2,000,000 on a loan 10 year interest only period.

No Employment Disclosed

with Investment accounts above $1 million you may qualify for a jumbo home loan

Use only liquid assets to qualify for a loan on a primary residence, second home

The lowest 700 credit scores are 700 along with a down payment of 10 percent to get a $2,000,000 on a loan 10 year interest only period. Note: Not all borrowers qualify and other conditions may apply by the underwriter.

NOTE Not all borrowers will qualify. Loan approval is subject to approval by the underwriter rates and loan product guidelines are subject to change without notice.

Top Custom Home Builders in Austin

Based on HomeBuilderDigest the best luxury custom home builders in Austin consist of companies listed below.

p>Integrity Builders LP
5112 Avispa Way, Austin, TX 78738

Pillar Custom Homes
14905 Calaveras Dr., Austin, TX 78717

Arbogast Custom Homes
2121 Lohmans Crossing Rd. Ste 504-212, Lakeway, TX 78734

Verde Builders
2931 E 12th St. Unit 102, Austin, TX 78702

Silverton Custom Homes
18592 FM 1431, Jonestown, TX 78645

Top Luxury Car Dealers in Austin

Hi Tech Motors
12989 Research Blvd., Austin, TX 78729. Offers new and pre-owned Maserati, Porsche, Aston Martin, Bentley, Lotus, and Rolls-Royce.

4108 North Lamar Blvd., Austin, TX 78756

6201 S I-35 Frontage Rd, Austin, TX 78744

Top Restaurants in Austin

Jeffrey's (French & American Cuisine)
1204 W Lynn St, Austin, TX 78703

Barley Swine
6555 Burnet Rd #400, Austin, TX 78757

Otoko (Japanese cuisine)
1603 S Congress Ave, Austin, TX 78704

Red Ash (Italian cuisine)
Colorado Tower, 303 Colorado St #200, Austin, TX 78701

Vince Young Steakhouse
301 San Jacinto Blvd, Austin, TX 78701

Source: most expensive neighborhoods; Austin Culture Map
Austin Home Blog

Urban Matter

We are proud to serve home buyers across the U.S. including Austin TX: West Lake Hills, Barton Creek, Austin Country Club, Green Parl, Balcones Park, Bee Cave, Rob Roy West (Lost Creek), Davenport Ranch, Driftwood, Lakeway, Rosedale, South River City, Allandale, Gateway, Crestview, Rollingwood, Tempe, and Dripping Springs.