Low Down Payment
You can put as little as 5% down based on your home’s loan-to-value. Many other banks require a minimum 20% down payment.
Jumbo Mortgage
When your home-buying dreams exceed the ordinary, we’re here to help.
Ideal for more expensive homes, our Jumbo Mortgage caters to those aiming higher in the property market.
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Discover the possibilities of a Jumbo Mortgage.
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High Borrowing Limits
Borrow an amount greater than $766,550, perfect for financing luxurious properties.
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Competitive Rates
Choose from a variety of fixed and adjustable-rate options to suit your financial plan.
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Low Fees:
Benefit from a low application fee of $1,250, with no document preparation or credit report fees.
Competitive Mortgage Rates
Benefit from some of the most competitive mortgage rates in the market, designed to suit a variety of financial situations.
The ideal solution for purchasing or refinancing higher-value properties.
A Jumbo Mortgage from Coastal Credit Union is a type of home financing designed for properties that exceed the standard conforming loan limits.
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Beyond Standard Limits:
A Jumbo Mortgage caters to financing needs that surpass the usual borrowing threshold of $766,550.
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Designed for High-Value Properties:
Perfect for buyers aiming to invest in luxury homes, spacious properties, or homes in high-cost areas.
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Tailored Financing:
This mortgage option is customized to handle larger loan amounts, providing flexibility and coverage for your significant investment.
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Diverse Property Types:
Suitable for a wide range of property types, including single-family homes, townhouses, and eligible condos.
How the Jumbo Mortgage process works.
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Connect with a Mortgage Loan Officer:
Our loan officers provide expert, personalized advice on rates, terms, and the best options for your situation.
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Apply Online and Get Pre-Approved:
From application to closing, we guide you through each step of the mortgage process. Including the documentation you’ll need for pre-approval.
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Meet with Daymark Realty:
Our wholly-owned real estate service will help you find the right home for you.
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Get your Offer Accepted:
Once you’re under contract for your new home, we will begin the processing and the approval for your new mortgage.
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Finalize Your Closing:
At closing, we’ll be there to walk you through the final paperwork as you get the keys to your new home!
Connect with a Mortgage Loan Officer
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Expert Guidance
Our loan officers can provide personalized advice and guide you through the home buying process.
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Personalized Solutions
We’ll help you by finding the mortgage solution that fits your needs.
Frequently asked questions about Jumbo Mortgages
Coastal charges a low application fee of $1,250. You receive substantial savings because there are no charges for document prep or credit reports. Additional charges may apply depending on the interest rate and loan program you choose.
You can apply online through the Coastal website, through the Coastal App on your mobile device, or by phone at 800-868-4262.
The minimum credit score for Jumbo loans varies based on the credit score and loan to value. For expert advice, please contact one of our Mortgage Loan Officers.
The minimum down payment for Jumbo loans is as low as 5.00%.
The maximum amount borrowed on a Jumbo loan is based on credit score and loan to value. For expert advice, please contact one of our Mortgage Loan Officers.
The minimum loan amount must be equal to or greater than $766,551.
If you are looking to lower your rate and/or loan term, refinancing your mortgage may be an option with us. For expert advice, please contact one of our Mortgage Loan Officers.
On average, the mortgage approval process may take up to 30 days. However, depending on the situation, the process may be shorter or longer.
PMI is required on all loans with a down payment of less than 20% unless program specific. The cost of PMI is determined by the loan-to-value (LTV) and credit score.