Profile picture for tagrman

$1MM mortgage in San Ramon, CA

with $100-$150k down. 800 FICO. $250k Salary. 

Details above. Not familiar with the CA market .. are < 20% down loans available with the characteristics above. Thanks.
  • December 17 2012 - San Ramon
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Answers (8)

Profile picture for tagrman
Hi! Thanks for your replies. Final clarification - we are looking at new construction mainly, so appraisals will be less of a concern I assume. 

Employment with same megacorp for 15 years. 

Please feel free to email me if you can move ahead with prequalification for such a loan. .. the account name at gmail

thanks
  • December 17 2012
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Yes, you can do a purchase loan at 90% Loan to Value for 1MM purchase price. 2 appraisals may be required, but other than that it's very straight forward. Credit and income look good. You should not have any problems. Feel free to contact me if you have any specific questions.
  • December 17 2012
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Profile picture for Brian GFL Capital
what bank is still offering 90% financing on a $900,000 loan?
  • December 17 2012
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Tagrman

Assuming it's going to be an primary residence you can get in with less than 20% down.

Feel free to contact me to discuss.

Mike Politzer
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  • December 17 2012
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tagman,

That sounds like a pretty easy deal, we do them all the time. The biggest questions would be the appraisal (are there enough comps?), and the other question would be reserves.

Sincerely,
Greg Cowart

Partners Mortgage - Roseville, CA
  • December 17 2012
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Profile picture for tagrman
Sorry I should clarify.
The purchase price is $1MM.
Looking to put Down $100-$150k.
So the mortgage size would be $850-$900k.
  • December 17 2012
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Tagman - what's the potential purchase price? I'm just up the road from San Ramon in Danville so have a local presence for you if that's of interest.
  • December 17 2012
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tagman,

The simple answer is yes, this type of loan is definitely available. Pending loan approval of course.

Sincerely,
Greg Cowart

Partners Mortgage - Roseville, CA
  • December 17 2012
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