Save Big with a Jumbo Home Loan

Jumbo loans from the Magnolia Bank in Columbia, Missouri offer maximum flexibility for financing your home. With high purchasing limits, lower down payments and competitive fixed and adjustable rates, a jumbo loan from Magnolia Bank is a viable home financing option. Jumbo mortgages are a good solution for borrowers who are looking to buy a higher-priced home in Columbia, MO and across the United States.

Do you need a home mortgage between $417,000 and $3,000,000?
Do you need competitive and flexible jumbo loan rates?
Are you looking to purchase or refinance a higher-priced home?
Are you looking for a quick turnaround for your jumbo loan purchase?

If you answered “Yes” to any of these questions, Magnolia Bank in Columbia, MO is the perfect mortgage lender for you. Call us today or fill out the form on the side to get in contact with one of our loan officers.

What is a Jumbo Mortgage Loan?

Any loan over the conventional loan limit ($417,000) is considered a Jumbo Loan.
Conventional loan limits vary from state to state, reaching $625,500 in some of the highest-cost areas.
Interest rates will also vary depending on where your property is located.
Choice between fixed and adjustable rates.
Credit scores as low as 700 may qualify.

Jumbo Loan Requirements & Qualifications

Debt-to-income ratio – When applying for a qualified mortgage, your debt-to-income ratio cannot exceed 43%.
Required reserve amount – The required reserve amount for jumbo loan borrowers can be as high as 20 percent of the value of the loan.
Credit scores – Due to the higher value of these loans, credit score requirements are higher for jumbo loan applicants.
Documentation – When applying for a qualified mortgage, you will need documentation of your income.

Google Rating

5.0

Community First Home Loans

Max Prokell

20:58 25 Aug 16

Bobby and his team at Community First Home Loans are great. They take the time to help you find the best home loan options for you, and they do a fantastic job explaining all of your options. I HIGHLY RECOMMEND them to anyone looking for a home loan. Thanks for everything!

jagormanmo

20:41 23 Aug 16

On the contrary, to whoever wrote this childish review about Richie & Bobby, you evidently were gooned out when you wrote this. These men have worked so long & hard for me, getting my loan to go through. I can't even imagine them associating themselves with a "little boy" kind of guy that would write something so childish. You need to go back to school and learn how to Try to put down such hard workers in an adult manner. Grow up young man. I mean't little boy. Jean M.

Brandon Mushlin

19:53 23 Aug 16

I've worked with Richie Duncan in various capacities since 2001. What I know him most for is his straight forward, no time wasting approach with clients, service providers and industry experts. He has been in the industry over 18 years, and he is one of the last I know that will roll up his sleeves to go the extra mile for those clients in tougher situations or with harder credit. Richie continues following up with clients over the years, and his relationship the last 5+ years as a 50 state banker means he is able to help more people that have been put on the back burner. I know many top banks who send him their turn-downs and he is able to work with the client to put them in a loan and great rate. He never pushes you off to an assistant, call it control, or call it an expert wanting to serve his clients, either way, the end result is having a personal advocate in a world that has seen un-trust within the industry. He's rode the industry roller coaster and continues this career for his love of people getting the loan they desire, and his love of the industry, regardless of the continuous changes that come. Richie stays educated and in the know so he can keep you in the know. He has loan options down to a 530 FICO Score for 100% on a purchase or cash out refinance, doing a loan like this takes time, but the programs are available. So please, if you are frustrated, upset with your last experience or are looking for a Mortgage Banker that will always take your calls, then reach out to Richie at Community First National Bank.

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