Definition

• Mortgages exceeding regulation limits, suitable for high-priced or luxury homes.

Ideal Borrowers

• Those with low debt-to-income ratios, strong credit scores, and the ability to make a large down payment.

Down Payment

• Typically around 20%, but varies among lenders.

Benefits

• Financing for high-priced or luxury homes.

Usage Limit

• No restrictions on usage.

Strengths

• Flexibility to purchase high-value properties.

Considerations

• Higher credit score and stricter underwriting requirements.