Jumbo Loan Programs For Self Employed Borrowers

This BLOG On Jumbo Loan Programs For Self Employed Borrowers Was UPDATED On December 29th, 2018

What are the huge loan programs for self-employed borrowers

Jumbo Loans are often called non-conforming loans. Conventional Loans are called conforming loans because they need to conform to Fannie Mae and/or Freddie Mac Mortgage Guidelines. Maximum Loan Limit on conforming loans is $484,350. Any loans that surpass the $484,350 cap are called non-conforming loans or Jumbo Loans. High-end homes are considered homes that are over $500,000.

  • Most high-end homes are in exclusive areas and the majority are custom built with many amenities
  • Home Buyers who are on the market for high-end homes in Michigan,  Michigan high-end home specialist Juanita Hawkins of Keller Williams is the realtor of choice

In this article, we will cover and discuss Jumbo Loan Programs For Self Employed Borrowers.

Juanita Hawkins: Keller Williams

Juanita Hawkins is based in Farmington Hills, Michigan. Juanita Hawkins is among the top-ranking realtors in the Keller Williams system internationally.

  • Juanita Hawkins, is a top Michigan realtor who is connected to mortgage lenders, title companies, insurance professionals, property inspectors, attorneys, contractors, and other real estate professionals
  • Juanita Hawkins keeps track on every high-end home that comes out on the MLS (Multiple Listing Service) hot sheets every morning
  • Juanita is also involved in the community where many potential high-end buyers and sellers consult her for her expertise

Why Juanita Hawkins?

Why Juanita Hawkins?

Many high-end home buyers are self-employed.

  • Bank Statement Mortgage Loans and specialty jumbo mortgages are now back for the first time after the 2008 Subprime Market Crash
  • Jumbo Loan Programs For Self Employed Borrowers are now back
  • Juanita and The Team at Gustan Cho Associates are co-partners in marketing high-end home buyers and sellers who want to learn more about our Jumbo Loan Programs For Self Employed Borrowers

Self Employed Borrowers who decide to purchase high-end homes need to consider Jumbo Loans. There are several Jumbo Loan Programs For Self Employed Borrowers:

  • Jumbo Loans are mortgage loans over $484,350
  • 5% down payment Jumbo Loan Program available at Gustan Cho Associates
  • Jumbo Loans with credit scores down to 500 FICO
  • Jumbo Loans are considered riskier loans than conforming loans
  • Choosing the right Jumbo Loan programs is crucial
  • There are mortgage lenders who specialize in Jumbo Loans
  • However, every lender has different guidelines and Jumbo Loan Programs

Juanita Hawkins: Jumbo Loan Programs

Juanita Hawkins has a network of lenders that specialize in Jumbo Loan and is abreast of new Jumbo Loans Programs.

Types Of Jumbo Loan Programs

What are the types of major loan programs

Most Lenders that specialize in Jumbo Loans only offer a 75% loan to value Jumbo Loans.

  • However, there is a new mortgage program for Jumbo Loans that a borrower can qualify for a 95% loan to value with no mortgage insurance premium required
  • This unique Jumbo Loan program is ideal for those high-end home buyers who currently have a home but will not list their current home until they have closed on their high-end new home purchase
  • Having a home that did not sell and buying a high-end home can strain any high-end home buyer with liquid cash to put the down payment of 25% for a high-end home purchase
  • Bank Statement Mortgage Loans where tax return deductions do not matter
  • Income is calculated with averaging 24 months of bank statements and not withdrawals
  • 95% Loan To Value Jumbo Loan Programs:
    • 720 FICO Credit Scores Required
  • Jumbo Loan Programs for borrowers with low credit scores: Credit Scores down to 600 FICO

Contact Juanita Hawkins

Folks who are either thinking of selling or buying a high end home, contact Juanita Hawkins.

  • Buyers and Sellers can rest assured they will get the most knowledgeable and experienced realtor with first class service. 
  • Juanita Hawkins will make sure take best interests with protecting her clients by writing up an iron clad contract where earnest money will be protected
  • She will double and triple check that every professional in the home selling and/or buying process are on top and make sure the closing happens
  • Juanita Hawkins is a hand on realtor who is available 7 days a week, including holidays, for her clients

Juanita Hawkins of Keller Williams Farmington Hills can be reached at 313-520-3108.

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