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JUMBO

HOME LOANS

Home Financing for Uncompromising Lifestyles.

When you're looking to go BIG, we offer the financing you deserve, but without the traditional Jumbo Loan hassle and red tape. We're your JUMBO loan resource offering flexible solutions to cover a broad spectrum of scenarios. Whether you are self-employed or if you have significant liquid wealth--but show little or no 'tax return' income--we have the JUMBO solutions you need up to $20MM, and the experience of working with unconventional scenarios.

 

WHAT IS A JUMBO LOAN?

A Jumbo home loan is simply any residential loan where the loan amount exceeds the Conventional loan size limit in a geographic area.  In most of Florida, that currently in 2022 means any loan amount that exceeds $647,200.

Jumbo loans can often be the most challenging when it comes to qualification.  Because Jumbo loans are not backed by Fannie Mae or Freddie Mac, many banks and credit unions that do offer Jumbo financing are known to impose extremely strict underwriting standards, which often means that otherwise well-qualified borrowers who may easily qualify for a Conventional loan, may find themselves unable to qualify for a Jumbo loan.

Credit history and income qualification are held to more rigorous standards than a traditional home loan. Interest rates tend to be higher than conventional loans and/or fixed rate terms are often unavailable.  

 

DO I NEED A JUMBO LOAN?

It depends on the sales price and the size of your down payment, there are often alternatives jumbo financing, such as our COMBO Loan, which pairs a large Conventional Loan with a smaller second Home Equity Line of Credit where both loans simultaneously close on the same day. Consult your loan originator for a side-by-side comparison so you can see which is a better fit for you.

 

YOUR UNCONVENTIONAL JUMBO EXPERTS

Unlike many banks, credit unions and lenders, our Jumbo programs are highly diverse and offer competitive pricing, allowing us to consider a wider range of loan scenarios.

 

If you're considering the purchase of a home are considering Jumbo financing or just want to compare your options, we'd love the opportunity to answer all of your questions.  We fund a considerable amount of Jumbo financing and you can trust our expertise.

2
Jumbo Loan Programs

to Choose From:

 

At a Glance:

Minimum Down Payment

25% - 30% - Owner-Occupied
30% - Second Home
40% - Investment or Condotel

Private Mortgage Insurance (PMI)

N/A

Minimum mid-credit score

No Minimum Score Required; however credit history is evaluated

Min/ Max Loan Amount

$100,000 - $20 Million

Loan Repayment Terms5 Year ARM, 10/1 ARM

Prepayment PenaltiesNone

Required Documentation

Full Doc

Reserve Requirement

24 months of all debt

Escrows

None. Property Taxes and Property Insurance are self-managed by the homeowner.

Seller Contribution Limit

4% of purchase price

Acceptable Property Types

Single Family, Townhome, Condominium, Condotel/NonWarrantable

Occupancy

Primary Residence, Second Home, Investment

Close in the name of LLC or Trust

Yes. ($500 review fee applies)

Our Private Client Portfolio program is designed for applicants with a solid credit history and financial sophistication, who expect an extremely competitive rate without the hassle of a traditional jumbo loan.

Our Private Client Portfolio program is different from most other jumbo programs because it is not credit score-dependent. The applicant does not need to have the typical 720 or 740 minimum credit score to qualify required by most jumbo lenders. Credit is evaluated individually on per-applicant basis, not by FICO score.    

If approved, every applicant receives the same interest rate for the desired jumbo loan program at the time our underwriters review the application, regardless of the applicant's FICO score.

 

Today's Rates

REQUEST A PRIVATE CLIENT PORTFOLIO QUOTE TODAY
No Cost or Obligation

Private Client

Private Client Portfolio - Effective 08/02/2022*

Loan amounts < $3Million. See Loan Originator for higher loan amounts.

* Interest rates are subject to change without prior notice.  Interest rate is locked at time of initial underwriting approval and is subject to market rates on the day of approval.

Index: 1 Yr US Treasury
Margin: 2.75     Caps:  2/2/6   Floor:  Start rate

At a Glance:

Minimum Down Payment

10% - Owner-Occupied / Full-Doc Income
15 - 25% - Owner Occupied / Bank Statement/ P&L Income
25% - Second Home / Full-Doc Income
30% - Second Homes / Bank Statement / P&L Income
25% - Investment Home/ Full-Doc
25% -  Investment Home/ Bank Statement/ P&L Income
35% - Non-Warrantble Condo /Full-Doc /Bank Statement/ P&L Income

Private Mortgage Insurance (PMI)

N/A

Minimum mid-credit score

620 (Full Doc)
640 (Bank Statement Income/ P&L)

Min/ Max Loan Amount

$150,000 - $3 Million

Loan Repayment Terms30YR Fixed, 5 Year ARM, 10/1 ARM

Prepayment Penalties
None (for Owner Occupied or Second Home)
6 months interest on unpaid principle - (Investment Only)

Required Documentation

Full Doc / Alt-Doc / Bank Statements / P&L

Escrows

Escrows for Property Taxes and Home Insurance are required.

Seller Contribution Limit

6% of purchase price - Owner Occupied or Second Home
2% of purchase price for Investment Home

Acceptable Property Types

Single Family, Townhome, Condominium, Condotel/NonWarrantable

Occupancy

Primary Residence, Second Home, Investment

Close in the name of LLC or Trust

No

Prior Housing Events

Standard 2 Years from end of the event okay
No Waiting Period Required (See Your Loan Originator for changes to Down Payment details)

Our Jumbo Flex program is designed for applicants whose credit and/or income profiles do not meet standard approval criteria. The underwriting requirements are more flexible and qualification is easier.

We can accept middle FICO scores down to 600 for Full-Doc and 640 for Bank Statement Income.  Our P&L Loan is based on the Transunion Score and can be averaged if there are two applicants.

This program is ideal for Self-Employed applicants who do not qualify using the traditional tax return calculation.

This program is also more flexible in regards to recent derogatory housing events, such as a Foreclosure, Bankruptcy, Short Sale or Deed-in-Lieu. An applicant has been denied because they have not met the required waiting periods for a traditional loan, can be approved under this Jumbo Flex program with as little as one day from the date of the event.  (down payment may be affected. See your loan originator for details)

REQUEST A JUMBO FLEX QUOTE TODAY
(813) 928-9610

Flex

This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice.  Contact loan originator for program questions and scenarios.