Jumbo loans for big spenders

Due to limits imposed by Fannie Mae and Freddie Mac, a conventional loan will not suffice if you need a home loan for more than $647,200 (or $970,800 in high-cost locations).

Fortunately, our jumbo loan is here to help. Private lenders are offering this 30-year fixed-rate loan with a maximum loan amount of $5 million. What is the cost-benefit analysis? It usually necessitates more stringent underwriting. We are, however, able to offer our borrowers the option of only putting down 10% with no PMI.

Benefits

  • Financing available up to $5,000,000
  • No private mortgage insurance on loans with a loan-to-value as high as 90%*
  • Fixed-rate, adjustable rate, and term length options
  • No pre-payment penalties, ever

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    Requirements

    1

    A down payment of at least 10%

    2

    A credit score of at least 700

    3

    A debt to income ratio under 50%

    4

    Proof of steady income or employment

    5

    At least 6 months of reserves