Can I get a 40 year jumbo mortgage in California?


Yes, large lenders will offer a 40 year jumbo mortgage and California is one of the regions where those loans come most handy. Those 40-year jumbo loans will carry a fixed rate for the entire duration of the loan, and will be available as first and second mortgages, home equity loans (HELs) and home equity lines of credit (HELOCs).

Popular Features of the 40-Year Jumbo Mortgage Loan

  • 40-year jumbo loans will usually carry higher rates than the standard 30-year jumbo;
  • Borrowers qualify for larger loan amounts under a 40-year jumbo as the monthly payment is smaller than the 30-year loan amount;
  • 40 and 50-year jumbo loans are great for costly metropolitan areas;
  • 40-year jumbo and super jumbo HEL and HELOC can reach 100% LTV.

However, though, don't expect a significant decrease in the monthly payment with 40-year jumbo loans. In the long run, also you will be paying a lot more than with a standard 30-year loan.

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