Jumbo Mortgage

Sometimes traditional loans aren’t enough to buy the home you really want. Elmira Savings Bank can help you finance the purchase of a high-priced home or refinance your current loan with our line of Jumbo Loans.

When it comes to Jumbo, Elmira Savings Bank has more to offer. With our unrestricted access to a variety of programs, our competitive rates, and our rapid turnaround times, we simply deliver more options to you.

You can use a Jumbo Mortgage for a home purchase loan or to refinance a home mortgage you already own. Our unrestricted access to a variety of programs means we can find the right program for you. 

Buying a Home with a Jumbo Mortgage
Jumbo Loans offer you greater flexibility in buying a home. Our Mortgage Originators can help you with a Fixed Rate Mortgage or an Adjustable Rate Mortgage. With a Jumbo Mortgage from Elmira Savings Bank, you won’t be restricted by loan limits, so we can help you find the best loan for your financial goals. In addition to competitive rates, we offer:

  • Loan Amounts up to $453,100
  • Down payments of just 15%* can help you get into the home of your dreams. (*restrictions apply)
  • Ratios up to 42 percent: With a Jumbo Loan, you can incur a higher debt-to-income ratio while still enjoying competitive interest rates and loan terms.
  • Non-occupying co-borrowers allowed. If you worry about qualifying for a loan, we offer home financing options that allow a friend or family member who will not be occupying the home to co-sign on the loan. This is a great option for those who cannot provide verifiable income or have less than perfect credit.
  • Flexible terms. Elmira Savings Bank offers several loan terms based on your goals and qualifications.

Refinancing a Jumbo Mortgage for a Better Rate
There are many reasons to refinance a home loan. You may want to lower your interest rate or monthly payments; perhaps you want a cash out refinance to pay for remodeling or a home improvement project; or maybe you just want to change the terms of your loan. Whatever the reason, Elmira Savings Bank can help you decide which loan refinance package is right for you. When rates are low, it’s a great time to consider refinancing your Jumbo Mortgage.

Once your mortgage is down to below the conforming loan limit, our mortgage originators can help you make the transition to a traditional conforming loan. Making this transition will lower your interest rates and help you pay off your loan faster. 

Additional Jumbo Loan Refinance packages include:

  • No mortgage insurance required. Most mortgage lenders require borrowers to pay for private mortgage insurance (PMI) in order to finance loans with high loan to value ratios.
  • Interest Only Refinancing. If you need to lower your monthly payment temporarily to avoid foreclosure or divert monthly payments toward other uses, you can use Interest Only Refinancing to reduce your monthly payment to just the interest rate cost.
  • Cash-Out Refinancing. Our Jumbo Refinance packages allow you to cash-out up to $350,000 on your mortgage.

Ready to apply for a JUMBO Mortgage?  Start your secure online Mortgage Application now!


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Elmira Savings Bank is an approved Seller/Servicer of Freddie Mac, FHA/Department of Housing & Urban Development, VA, USDA, and SONYMA (NY Only). Elmira Savings Bank is an Equal Housing Lender committed to ensuring every applicant for credit receive fair and equal treatment throughout the credit application and approval process, as embodied in the Equal Credit Opportunity Act and the Fair Housing Act. All mortgage lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply.

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