Dallas Jumbo Loan

high-end home in Preston Hollow

Looking to move to North Texas, specifically the DFW area? Dallas's local economy is quite diversified. In fact, “Texas’s economy is expanding at a healthy rate, and deservedly ranks in the top 20" among the country's leading economies. High earning professions and prestigious communities are plentiful in Dallas.

If you already live in the Dallas-Fort Worth area and own typical luxury real estate, your home likely has at least an appraised value of $1,000,000 to more than $25,000,000 for a mansion with over 10,000 square feet and very unique attributes. Loan Dallas Custom Home Builder

Most expensive neighborhoods in DFW

Dallas luxury home subdivisions include Bluffview, Caruth Hills, Creeks of Preston Hollow, Inwood Road, Lake Highlands, Lobello Estates, Meadowood Estates, North Irving, North Ridge Park, Oak Cliff, Park Cities, Preston Hills, Sanric Estates, Sunnybrook Estates, Walnut Hill Highlands, Wilemon, Uptown, and others. In the Fort Worth area, some of the high-end neighborhoods include Arlington Heights, Como Neighborhood, Crestline, Greenway, Mira Vista, Monteserrat, Scenic Bluff, among others.

Popular affluent areas outide of Dallas are Colleyville, Frisco, Highland Park, Plano, Southlake, University Park, Westlake.

How to Qualify for a Dallas or Fort Worth Jumbo Loan?

If your loan request is above the Texas 2022 conforming loan limits, you’ll need to get a jumbo loan or use a conforming loan and piggy-back second mortgage. The Dallas Fort Worh Metroplex has a total of thirteen counties: Collin, Dallas, Denton, Ellis, Hunt, Kaufman and Rockwall in Dallas. Hood, Johnson, Parker, Somervell, Tarrant and Wise county make up Forth Worth.

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

West University Houston new HomeEach of the above requirements may have varying degrees of demands. For example, the lower your credit scores, the higher your down payment and interest rate will be. For those seeking 5 or 10 percent down jumbo financing, the underwriter will likely require more liquid reserves. Sometimes a borrower's self employment income yields a high debt to income ratio and they may be best served on a non-traditional income loan program. Additional lending solutions may become available once your income, assets and job history are reviewed by an experienced loan originator.

Dallas - Ft Worth Jumbo Mortgage Lender's Advantage

  • 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 Borrower Option

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 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 Dallas

According to HomeBuilderDigest the best luxury home builders in Dallas are the following companies.

p>Platinum Homes by Mark Molthan
7001 Preston Rd., Suite #230 Dallas, TX 75205

Bauhaus
1920 McKinney Ave., 7th Fl., Dallas, TX 75201

Alford Homes
17480 Dallas Pkwy., Suite #217 Dallas, TX 75287

Phillip Jennings Homes
8604 Turtle Creek Blvd., Suite #25569 Dallas, TX 75225

Veranda Designer Homes
1594 Hart St., Suite #200 Southlake, TX 76092

Source: most expensive neighborhoods; D Magazine
Dallas News

Find an expert lender for a jumbo mortgage in the » DFW Metroplex