SAN DIEGO, Nov. 9, 2020 /PRNewswire-PRWeb/ -- Griffin Funding, a San Diego-based mortgage company, will be expanding its services to now offer Jumbo Loans (or Non-Conforming Mortgages) that are usually only provided by large banks.
"Oftentimes with the larger banks, you have a longer wait period, less flexibility and you don't get the expertise of a well seasoned mortgage professional so most buyers just end up buying with all cash," says Griffin Funding CEO Bill Lyons.
Jumbo Home Loans are needed for homebuyers looking to purchase or refinance a luxury home that is much more than the standard home value in your county, which typically cut off at $510,400 for most counties. This is because these types of homes exceed the conventional conforming loan limits set by the Federal Housing Finance Agency (FHFA), which disqualifies them from traditional financing options. While jumbo home loans are designed for those looking to purchase high-value homes, they are also typically associated with stricter requirements that make them more difficult to qualify for. Griffin Funding is offering Jumbo loans with as little as a 10% down payment.
"In the San Diego County area, which has a limit of $701,500, there are a lot of areas like La Jolla and Coronado, where property value is much higher and homes are bigger. So even though there is a high limit, a lot of these homebuyers would normally be forced to deal with the bigger banks," says Lyons.
"We are dedicated to making home loans more accessible to borrowers, offering competitive interest rates, more flexible terms, and five-star service. Luxury homebuyers should not be limited to paying cash for their home or going through a big bank. Now, with our Jumbo loan programs we not only can compete with the big banks on service but we can also compete on interest rate."
Founded in 2013, Griffin Funding currently operates in Arizona, California, Colorado, Florida Hawaii, Tennessee, Texas, and Washington.
About Griffin Funding
Griffin Funding's mission to serve its customers with honesty, integrity, and competence is fulfilled each day it provides veterans and their families with the lowest interest rates and closing costs possible. Through Griffin Funding's wide selection of loan services, the company offers 5-star customer service and competitive rates in minutes. Its loan specialists take a customized approach to each client, striving to understand and meet individual needs and looking ahead to create long-term plans for the future. For more information on Griffin Funding, visit Griffinfunding.com.
Evan Kidwell, Griffin Funding, +1 8005275910, [email protected]
SOURCE Griffin Funding