Loans With Victoria | Goose Creek, SC Home Mortgage Lender


If you’ve got your eye on a higher-priced property, a jumbo loan can help you purchase it. These flexible financing products offer higher balances than conventional loans provide, and they’re specifically designed for high-income earning homebuyers.

Here at Premier Nationwide Lending of Goose Creek, we proudly offer a wide range of mortgage options to serve every budget, income level and homebuying goal in our community. Our jumbo loans are just one of these options. Read on to learn more about these mortgage products or reach out to branch manager Victoria Krueger today for more information.


Jumbo loans are for use on properties priced over $726,200 — the “conforming” limit for conventional loans guaranteed by Fannie Mae and Freddie Mac. Since these loans aren’t guaranteed by the FHA, Freddie and Fannie, they present more of a risk for lenders and, as a result, most mortgage companies have more stringent credit and down payment requirements for those who apply for them.

Just as you can with most other types of mortgage loans, you can get jumbo loans with either fixed or adjustable interest rates. They also come in varying term lengths, depending on how long you want to pay off the loan and how much you want your monthly payments to be.


Jumbo loans are generally best reserved for higher-income earners — specifically those who are looking to purchase a more expensive primary property. You’ll also want to have good credit and significant savings before applying for a jumbo loan, as the down payment requirements are higher.

Jumbo loans are not a good fit if you’re looking to buy a second home or investment property, or if you have poor credit.


For the most part, jumbo loans have stricter qualifying standards than other options, simply because they’re a riskier loan for mortgage companies. To qualify, you’ll need good credit, a solid down payment and a lower debt-to-income ratio than other types of mortgage loans allow. In order to eligible for a jumbo loan, you’ll typically need a credit score of at least 700, though the exact score varies by mortgage lender. You’ll also need a lower debt-to-income ratio than is allowed on other loan options and more cash reserves.

All in all, you’ll need:

  • Credit Score: At least a 700
  • Down Payment: At least 20 percent
  • Debt-to-Income Ratio: 38 percent on the front-end (just housing costs:monthly income) and 45 percent on the back-end (all monthly debts included)

You also may need anywhere from six months to a years’ worth of mortgage payments in cash reserves, though this requirement varies greatly by mortgage lender. To learn more about jumbo loans and the qualifications you’ll need to meet to be eligible, reach out to Victoria Krueger and at our Goose Creek office today. We’re here to help.


As with other mortgage loans, there are both advantages and disadvantages to using a jumbo loan. The biggest benefit, of course, is the higher loan limits they come with. If you’re looking to purchase a higher-priced home in Goose Creek, these loans can be very practical. They also come in both variable and fixed-rate options, as well as a number of term lengths.

On the other end of the spectrum, jumbo loans do come with more stringent eligibility requirements, so they’re not as easy to come by as other types of mortgage loans. They’re also not for use on vacation homes, second homes or investment properties.

Jumbo loan pros:

  • Higher loan limits
  • Fixed- and adjustable-rate options
  • Varying term lengths

Jumbo loan cons:

  • Not for use on second homes or investment properties
  • Higher down payments
  • Require higher credit scores
  • May be harder to qualify for


If you’re considering a jumbo loan to purchase a home in Goose Creek, then reach out to Victoria Krueger at Premier Nationwide Lending today. We’re one of the top-rated mortgage companies in South Carolina, and we’re here to help guide the way.