AIG Jumbo Purchase Loan
Best For: Large Down Payments, Large Loan Amounts, High Credit Scores, Lowest Rates
Fixed-rate jumbo mortgage option for loan amounts up to $2 million—also available for second homes and investment properties.
Program Description
AIG funds jumbo mortgages for purchase with loan amounts up to $2 million. A jumbo purchase can help you buy a higher-priced home in which your loan amount exceeds the conforming loan limits for the county where you are purchasing. AIG has 15, 20, and 30-year fixed-rate terms, as well as second home and investment property options. They are worth comparing when reviewing your jumbo loan products.
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AIG Jumbo Purchase Loan
Min. Credit Score
680
Min. Down Payment
20%
Max Loan Amount
$2,000,000
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- No borrower income or purchase price limits
- No mortgage insurance
- Loan amounts limits are higher than standard conventional purchase limits
- Low debt-to-income (DTI) ratio requirements
- Higher down payment requirements than some other jumbo programs
- 6 to 18 months reserves needed
- Stricter qualifying requirements
Program Availability
AIG Jumbo Purchase Loans are available in all 50 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
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“Looking to purchase a higher cost home? Make sure to consider AIG, along with other jumbo loan options."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
45.00%
Purchase Price Limit
No Limits
Income Limit
No Limits
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- Loan amounts up to $2 million
- Also available for purchasing second homes and investment properties
- Offers 15, 20, and 30-year loan terms, no ARM options
Additional Conditions
- Cash reserves must cover both the closing costs and the mortgage payments for at least 6-18 months
- Simultaneous second mortgage financing is not allowed when purchasing
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is not required for this loan program.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: No Funding Fee
This program does not have a funding fee.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 2.5%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Citi Jumbo Purchase Loan
Best For: Large Down Payments, Large Loan Amounts, High Credit Scores
Citi's fixed and adjustable-rate jumbo mortgage options can go up to $3 million with flexible qualification and competitive interest rates.
AIG Jumbo Rate-and-Term Refinance
Best For: Large Down Payments, Large Loan Amounts, High Credit Scores
Fixed-rate jumbo refinance option for loan amounts up to $2 million, also available for second homes and investment properties.
Related Resources
2023 Cash-Out Refinance Guide
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Learn about investment property loans, including loan options, requirements, and interest rates to help you find and compare investment property mortgage loan programs and choose your preferred lender.
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A Rundown On Closing Costs and How They Affect You
It can be tricky to sift through all the figures , so we broke down what they are, how much they cost, who's responsible and how to minimize your expenses.
Read MoreVisit our Mortgage Education Center for more resources.
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
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