Advice In Qualifying For A Jumbo Mortgage
By Gustan Cho
Requirements In Qualifying For A Jumbo Mortgage
Qualifying For A Jumbo Mortgage With Late Payments
Down Payment Requirements In Qualifying For A Jumbo Mortgage
Qualifying For A Jumbo Mortgage: Types Of Jumbo Loan Programs
Jumbo Mortgage loans are mainly for primary owner occupant homes. There are a few portfolio Jumbo mortgage lenders that will do second home Jumbo mortgage loans but the Jumbo mortgage loan borrower needs to have extreme strong financials which consist of high credit scores, strong income, strong assets, reserves, and strong solid compensating factors.
10% Down Payment, 90% Loan To Value, No Mortgage Insurance Jumbo Mortgage Loan Program
I can offer qualified high end home buyers a special 10% down payment, 90% loan to value, with no mortgage insurance Jumbo mortgage loan. However, the Jumbo mortgage loan borrower needs to be a strong borrower. Minimum credit score required is 740 FICO, maximum debt to income ratio needs to be no greater than 40% loan to value. Interest rates on the 10% down payment Jumbo mortgage loan program is slightly higher than the 20% down payment Jumbo mortgage loan program.