Ready to Purchase a Luxury Home or Large Property?
A jumbo loan lets you go beyond the usual lending limits, so you can finance homes over $766,550—no need to conform to standard loan rules. Think big, dream big, and make it happen!
Key Features & Benefits
Higher Loan Amounts
With a jumbo loan, you can borrow more to buy that larger, high-end property you've been eyeing. Homes that might be out of reach with a conventional loan become possible!
Mortgage Rate Options
Choose between fixed-rate and adjustable-rate jumbo mortgage loans. We'll help you find the right option for your specific financial needs and goals
Streamlining Financing
With a jumbo loan, you only need one loan to cover your home purchase, instead of juggling multiple loans. This makes managing your finances simpler and more convenient.
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Frequently Asked Questions
Why get a jumbo loan with Midland States Bank?
In today's competitive real estate market, purchasing your ideal home can seem nearly impossible. Midland States Bank helps make your homebuying dreams a reality with a jumbo loan. Whether you want to purchase a luxury home, a large property or a house in a sought-after area, we'll help you find a solution that works best for your needs. Partnering with us allows you to:
Apply online: Our straightforward online application takes just minutes to complete.
Get the best rates: We offer competitive rates on our jumbo loans.
Receive expert assistance: Our experienced team is here to help you every step of the way.
Enjoy world-class customer service: We put our hearts into helping you achieve your homebuying goals.
Do I qualify for a jumbo loan?
Specific qualification requirements apply to jumbo loans. Generally speaking, the requirements tend to be strict because the loan amount is high. Factors including, but not limited to, your credit score, debt-to-income ratio and how much cash you have on hand will determine if eligibility. A Midland mortgage professional will provide details specific to each borrowers circumstance.
Will I need mortgage insurance with a jumbo loan?
If you pay less than 20% for your down payment, you will likely need to take out private mortgage insurance on your jumbo loan.
What types of properties can I purchase with a jumbo loan?
You can purchase single-unit properties, condos, or single-family attached and detached homes for your primary or secondary residence. Manufactured homes and multi-family properties are ineligible for our jumbo loans.
Prefer Personal Assistance?
Our team of dedicated professionals are here to support you.
