Jumbo Loan Amounts with 5%, 10% and 15% Down Payment

 

5% Down Payment up to $750,000 Purchase Price

10% Down Payment up to $1,222,000 Purchase Price

15% Down payment up to $1,764,000 Purchase Price

Thank you for your inquiry into our Jumbo loan options with low down payment requirements.  I have several products that most banks and loan officers do not offer. Products are available  currently in 47 states and I will have at least one option for each state, and multiple options in most states.  We are a direct lender and utilize our own underwriting, loan doc preparation and funding of your loan as well as product offerings through our correspondent and broker channels.   In most cases these products are designed for both home purchase and refinance transactions.  I can NOT provide a construction loan but I can payoff a construction loan on most products.  New construction is allowed if "buying" from the builder.  In addition to what you see below I can blend some of these options for even more flexibility.  Our low down jumbo product options continue to expand so please check with me direct.

Product list updated 12/2/2016 
Call or email for product updates/changes
Most Products will now allow Condos

Product #1:   5% or 10% Down to $750,000 Purcahse Price 

  • No PMI
  • Owner Occupied Homes Only
  • Minimum 680 MID  FICO For All Borrowers to $750,000 
  • 1st loan available in 30 year and 15 year fixed rates 
  • 2nd loan available in HELOC Only (purchase or refi) with 680 MID FICO
  • 5% down available in all states except Texas to $750,000 Sales Price.  Available in Texas to $545,000 sales price and 720 Minimum FICO.
  • Payoff of Debts to Qualify allowed in most cases
  • 43% Maximum Debt to Income Ratio
  • Availble to $1,000,000 purchase price in certain high cost areas with 10% down. Please call or email for specifics.

Product #2:   10% Down - 90% CLTV Jumbo Combo to $1,000,000 Sales Price 

  • No PMI
  • 10% or 15% down OK
  • Owner Occupied Homes Only
  • Minimum 710 MID  FICO For All Borrowers 
  • 1st loan available in 5/1, 7/1, 10/1 and 30 Year Fixed Rate
  • 2nd loan available in 30 year fixed rate with 740 FICO (purchase only) or HELOC (purchase or refi) with 730 MID FICO
  • 10% down available in all states to $833,000 Sales Price.  Available to $1,000,000 in most states.
  • Partial Gift Down Payment allowed
  • Payoff of Debts to Qualify allowed
  • 43% Maximum Debt to Income Ratio

Product #3:   10% down to $1,222,000 Purchase Price and 15% down to $1,764,000 Purchase Price 

  • No PMI
  • Owner Occupied Homes Only
  • 730 FICO required for 10% down payment  (lower loan amounts allow for FICO as low as 710, call or email for details)
  • 730 FICO required for 15% down payment  (lower loan amounts allow for FICO as low as 710, call or email for details)
  • 1st loan available in 5/1, 7/1, 10/1 and 30 Year Fixed Rate
  • 2nd loan available in HELOC only (purchase or refi)
  • Available in all states except Texas  
  • Partial Gift Down Payment allowed
  • Payoff of Debts to Qualify allowed
  • 43% Maximum Debt to Income Ratio

 

Product #4:   VA Jumbo Loan up to $2,500,000 with less than 20% down. 

  • Please call or email for down payment calculation based on your loan amount
  • No PMI
  • Owner Occupied Homes Only
  • Call or email for your specific scenario and full details. Down payment will vary.
  • Great 30 Year Fixed Rates for Qualified Veterans

Credit Note:  None of the above products will allow for recent foreclosure, short sales or Bankruptcies. Please see site link "Non Prime Jumbo" for products that allow recent credit events and lower FICO scores. If your FICO is below the minimum cut off I can often help with a rescoring plan.  For Investment, Non Owner and 2nd home property options please see site link "Investment Property" Loans" for other jumbo options.

 

For all specific rate and program inquires please provide your state, zip code, county, approximate FICO along with the intended purchase price or  home value.   The product information on this page is general and often I can restructure for your loan scenario with a blend of these options for an ideal match.   Please call,  email or forward the contact form on this page. I have over 20 years industry experience and look forward to the opportunity to help with your low down,  jumbo financing! All Products subject to change with out notice - updated December 2,  2016.

 

John Peisner
Mortgage Banking
(303) 482-5983
NMLS #239185

jpeisner@englending.com

Eng Lending/BOE Mortgage
4100 E. Mississippi Avenue
Denver, CO 80426


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