Jumbo Loans in ParamusLuxury Home Financing Above $766,550
Specialized financing for Bergen County's premier properties. From estate homes to luxury condos, we deliver jumbo mortgages with exceptional terms.
Why Choose Our Jumbo Loans for Paramus Luxury Homes
Competitive Jumbo Rates
Our jumbo rates often match or beat conforming loan rates. With strong financials, many Paramus buyers find jumbo loans offer better terms than conforming options.
Current Advantage:
Jumbo rates 0.25% below conforming
Save $625/month on $1M loan
Flexible Down Payment
Finance up to 90% on loans to $1.5M, and up to 80% on larger amounts. Keep more capital liquid for renovations or investments while securing your dream home.
Down Payment Options:
$1M home: 10% down ($100K)
$2M home: 20% down ($400K)
Interest-Only Available
Maximize cash flow with interest-only payment options. Perfect for high earners with variable income or those awaiting bonuses and stock vesting.
Payment Flexibility:
10-year interest-only period
40% lower initial payments
Portfolio Lending
Our portfolio lending options offer exceptional flexibility for complex financial situations. Perfect for self-employed buyers and those with substantial assets.
Unique Solutions:
Bank statement programs
Asset-based qualification
Paramus Luxury Real Estate Market
Paramus offers exceptional luxury properties requiring jumbo financing. From estate homes in the Dunkerhook area to modern luxury condos near Garden State Plaza, our jumbo loans unlock Bergen County's premier real estate.
Prime Neighborhoods
- Dunkerhook - Estate homes $1.2M-$2.5M
- Arcola - Custom builds $1M-$1.8M
- Spring Valley Road - Luxury $900K-$1.5M
- Country Club area - Premium $800K-$1.3M
Market Insights
Median Luxury Price:
$1.15M (homes over $766K)
Days on Market:
45 days (luxury segment)
Annual Appreciation:
5-7% (5-year average)
Inventory:
3.5 months supply
Why Buyers Choose Paramus Luxury:
- • Blue Ribbon schools (top 5% nationally)
- • No sales tax shopping advantage
- • 28 minutes to Manhattan
- • Lower property taxes vs. nearby towns
- • Corporate headquarters proximity
- • Premier country clubs nearby
Jumbo Loan Qualification in Bergen County
| Loan Amount | Down Payment | Credit Score | DTI Ratio | Reserves |
|---|---|---|---|---|
| $766,550 - $1M | 10% | 700+ | 43% | 6 months |
| $1M - $1.5M | 15% | 720+ | 43% | 9 months |
| $1.5M - $2M | 20% | 740+ | 38% | 12 months |
| $2M - $3M | 25% | 760+ | 38% | 18 months |
| $3M+ | 30%+ | 760+ | 35% | 24 months |
Note: These are general guidelines. Strong compensating factors (higher assets, lower DTI, larger down payment) can offset other requirements. Each application is evaluated holistically.
Acceptable Income Sources
- W-2 salary and bonuses
- Self-employment (2 years history)
- Investment income and dividends
- RSUs and stock options
- Rental property income
Reserve Requirements
- Liquid assets preferred
- Retirement accounts (70% value)
- Stocks and bonds accepted
- Business accounts allowed
- Gift funds for reserves OK
Your Path to Jumbo Loan Approval
Pre-Qualification (24 Hours)
Submit financial overview for initial jumbo qualification. We'll review your assets, income, and credit to determine your luxury home budget in Paramus.
Documentation Review (2-3 Days)
Provide comprehensive financial documentation. Jumbo loans require thorough verification of income, assets, and reserves. Our team guides you through requirements.
Property Selection & Offer
Shop Paramus luxury homes with confidence. Your pre-approval letter demonstrates serious buying power, strengthening offers in competitive situations.
Appraisal & Underwriting (10-14 Days)
Professional appraisal confirms value. Jumbo underwriting involves detailed review by senior underwriters familiar with Bergen County's luxury market.
Final Approval & Closing (Day 30-45)
Complete final conditions and prepare for closing. We coordinate with premier title companies experienced in high-value Paramus transactions.
Concierge Service: Jumbo loan clients receive dedicated support from our senior loan officers. We understand the unique needs of luxury homebuyers and provide white-glove service throughout your transaction.
Tailored Jumbo Solutions for Every Buyer
Traditional Jumbo
- 30-year fixed rates
- 15-year fixed options
- Predictable payments
- No prepayment penalties
Best for:
Long-term Paramus residents
ARM Jumbos
- 5/1, 7/1, 10/1 ARMs
- Lower initial rates
- Rate caps for protection
- Convert to fixed options
Best for:
5-7 year ownership plans
Interest-Only Jumbo
- 10-year IO period
- Maximum cash flow
- Optional principal payments
- Tax advantages
Best for:
High earners, investors
Bank Statement Jumbo
- 12-24 months statements
- No tax returns required
- Self-employed friendly
- Up to $2M loans
Best for:
Business owners, entrepreneurs
Finance Your Paramus Luxury Home Today
Experience exceptional service and competitive jumbo rates
NMLS #1577754 | Jumbo Mortgage Specialist | Equal Housing Opportunity