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Home Financing for Uncompromising Lifestyles.
DO I NEED A JUMBO LOAN?
YOUR UNCONVENTIONAL JUMBO EXPERTS
HAVE A QUESTION?
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)
Today's Rates
Loan amounts < $3Million. See Loan Originator for higher loan amounts.
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)
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.