Downsizing empty nesters pack big dreams.

As empty nesters start to streamline their possessions and downsize their homes, they’re often thinking about going big — really big.

Yet, their definition of big isn’t measured in square feet. It’s measured in luxury, unique custom features, and high-end amenities they didn’t get to enjoy while raising children.

What are you wishing for?

Whether your downsizing dream is to build a high-end home in a better climate, an exclusive resort community, or a city near family, you can upsize your reality with a jumbo loan.

This is helpful if you’re moving to a higher-priced housing market, or you’ve decided to add more expensive features like a swimming pool, personal music studio, or a gourmet kitchen.

A quick look at jumbo loans

Higher-priced homes require a jumbo loan since they are too expensive for a typical conforming loan. In most cases, any mortgage over $647,200 requires a jumbo loan in 2022. However, certain high-cost areas don’t require a jumbo loan until you cross over the $97,800 threshold.

Conforming loan limits are established by the Federal Housing Finance Agency (FHFA) each year. The FHFA website provides details on the national baseline and high-cost areas, as well as a map of the current conforming loan limits.

When downsizing delivers big-time joy

After years of filling your current home with love, memories, and material items, you might discover that excessive possessions and chores are getting in the way of the best parts of living in your current home. The key word is “living” — here are eight high-end features you deserve when leaving your big house behind to downsize:

  • The latest smart technology and security.
  • Wine cellar and elegant bar area.
  • Outdoor kitchen and pool house.
  • Full-on spa bathroom.
  • Dressing room / swoon-worthy closet.
  • Guest house.
  • Hobby room(s) and well-equipped gym.
  • Home theater.

Instead of focusing on the “empty” part of your nest, think about the “full” part of your next big chapter. We can help you acquire the jumbo loan needed for your new construction. Go big — and then go home!

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