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