Jumbo Loan Requirements Are Getting Stricter!
The Pandemic has triggered tighter requirements and it's making it more difficult for some borrowers to qualify for jumbo loans. These days, home buyers may have stricter credit score requirements and higher cash reserve requirements if they are trying to get a high balance loan. Lenders want low debt to income ratios, larger down payment requirements and some may not allow a loan on a vacation home or investment property. As a reminder, a jumbo loan is a home loan greater th