Great news, the 5% down payment (95%) Jumbo mortgage loan limits have been increased from $1,000,000 to $2,000,000. This applies to approved home buyers nationwide. This is especially good news for home buyers in more expensive locations of California, Florida and the North East (San Francisco, Orange County, LA, West Palm, Miami, Boston)
Home buyers will want to keep in the mind the following requirements listed below:
- Any home purchase over 90-95% loan to value must be a primary owner-occupied or second home
- All jumbo programs regardless of down payment require full documentation in relation to the borrower’s income and assets
- Jumbo loans that exceed 80% loan to value can be structured multiple ways – single loan options, or combo (80/15, 80/10) options with no monthly mortgage insurance. What option makes the most sense for you will depend on many factors like credit, loan amount, property state, etc
- All programs have fix interest rate or adjustable rate (ARM) term options
- Loan pre-approvals are often completed the same day. Have questions about getting started? Please submit the Quick Call Form on this page – or call the number above 7 days a week.
Read more about the Jumbo purchases here. Home buyers will also find the Jumbo Purchase FAQ’s helpful.
Serving buyers nationally including CA – Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Modesto, Oxnard, Fontana, Moreno Valley, Huntington Beach, Glendale, Santa Clarita, Long Beach, Oakland, Bakersfield, Anaheim, Santa Ana, Riverside, Stockton, Chula Vista, Irvine, Fremont and San Bernardino