Jumbo Loans
One of the most discussed changes in the mortgage markets today is Jumbo Loans. There are options, however there are generally two types of scenarios that we currently suggest to our borrowers. These loans are subject to availability and regulation changes.
The 80% - 10% Loan
These are for borrowers with excellent credit and a strong reserve base. These loans are a combination of a conventional first loan and a non-conventional second. Please note that all of these loans are offered at a fixed rate of interest. There is no mortgage insurance requirement on these loans. The tatal LTV is 90% of the purchase price.
The 80% - 15% Loan
These are for borrowers with excellent credit and a strong reserve base. These loans are a combination of a conventional first loan and a non-conventional second. Please note that all of these loans are offered at a fixed rate of interest. There is no mortgage insurance requirement on these loans. The tatal LTV is 95% of the purchase price.
The 80% or 90% Conventional Loan
- These loans are our third choice due to three borrowing parameters that exist.
- The loans require mortgage insurance
- The rate is risk base adjusted due to the size of the loan
- The loan is risk base adjusted due to FICO Scores
However, if there is a qualification problem with the aformentioned loans above, this loan will be your best option. These loans are at a fixed rate of interest and require mortgage insurance.
Our Real Estate Services are free of charge to the homebuyer. The seller of the property pays our fee and we represent your fiduciary interests in the entire transaction. Our Mortgage Services are at the best rates and fees in the area because of our one stop shopping concept. Call today at 817-690-9296 for more information.
