Jumbo Mortgage with Low Down Payment

 

Jumbo Loans With 10% and 15% Down

No Mortgage Insurance

I have several loan programs for your consideration that will provide different options for a low down payment on a Jumbo Loan.  None will require mortgage insurance!

10% Down Payment to $750,000 loan amount / $833,000 purchase
15% Down payment to $1,275,000 Loan amount/ $1,500,000 purchase

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 can not offer. We currently lend in 48 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.    My 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.

 

Option # 1

 

Jumbo single loan or Split Loan Combo

Purchase  or Refi  - 10% Down Payment - up to $750,000 Loan Amount

Purchase or Refi  - 15% Down Payment -  up to $1,275,000 Loan Amount

 

This is available for purchase with 10%  or 15% down payment and refinance with at least a  10% equity position. This is a one loan product with NO PMI ( private mortgage insurance) This is an attractive option for the Jumbo borrower wanting to preserve cash.  Low rates for both fixed and ARM products.

Minimum FICO:  740

90% Loan to Value:  $750,000 maximum loan amount
85% Loan to Value:  $1,250,000 Maximum loan amount

* Available in all States except Massachusetts, Mississippi, Louisiana and Arkansas.  
* Owner Occupied Only
* Only 1 unit, detached SFR allowed (no attached homes or condos)
* Max debt to income ratio of 43%
* Taxes and Insurance must be impounded
* Available in 30, 20 and 15 Year Fixed Rate and 3/1 5/1, 7/1 and 10/1 ARM
* On refinance, no cash out allowed BUT payoff of any 1st, 2nd, HELOC not considered 'cash out'.
* Payoff of construction loan allowed.

 Please call or email me for rate inquiries or questions @ (303) 482-5983 or jpeisner@jumbo-homeloans.com 

 

Option # 2

 

Jumbo Loan amounts - 10% down with 1st and second combo

Purchase or Refinance

$750,000 Maximum Loan amount with  10% down

* New States added!  Now available in 38 states. (see state list below) New York, Georgia and Florida added February 2014!
* Minimum FICO 700
* Max Debt Ratio 43%
* No Foreclosure or BK last  8 Years
* 2nd Lien is only available in Home Equity Credit Line to 90% and Fixed  Rate Second to 85%
* Great Low rates on 1st and 2nd
* Owner Occupied Homes Only
* Available with Low Rate Fixed or 5/1, 7/1 and 10/1 ARM 1st position loans

* Currently our most popular product to $750,000 loan amount.  Maximum payment savings.
* Available for Purchase or Refinance
* Some options available for second homes


Only available in Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Utah, Vermont , Virginia, Washington, Wisconsin and Wyoming.

 

 

Option # 3

Jumbo Flex Plan

Purchase or Refinance
 

Single Loan or Combined Loan amount = $750,000

* Available in most states.  Call or email me with your state/zip code for production confirmation.
* 700- 720 Minimum FICO score (state specific)
* Owner Occupied and second homes
* Maximum Debt to Income ratio of 45%
* Both 1st and 2nd Loans available with  fixed terms
* 90% Maximum combined loan to value
* Available for Purchase or Refinance

 

Option # 4

Jumbo VA Loan

Purchase or Refinance

Up to 90% Loan to Value

Available even when VA loan limit is $417,000!

 

For all specific rate and program inquires please provide the state, zip code and county along with price for your home.  The information on this page is general and often I can restructure for your loan scenario with a blend of the options to meet your specific needs.   Please call,  email or forward the contact  form below. Thank you for the opportunity to help with your low down jumbo financing!

John Peisner - (303) 482-5983 - jpeisner@jumbo-homeloans.com 

 Mortgage Banking
NMLS #239185


John Peisner
Phone: 303-482-5983 | Email: jpeisner@jumbo-homeloans.com


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