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Answers (8)
- Don Groff, "Austin Texas Lender"
- Contributions:119
Not available to my knowledge.
Not available anywhere. Unless you borrow from a man named Guido.
- Sonny Amlani, "libertymtg"
- Contributions:25
If your house value is 521,250.00 then you can structure you loan to 80/15/5 if your first lien is 417,000.00 and 2nd loan would be 15%. I don't know any lender who is doing 5% down on Jumbo loans.
- oldskoolballr
- Contributions:158
5% down on a jumbo. Good luck.
- Steven Newmyer, "snewmyer"
- Contributions:16
Rates can vary based on your credit and amount of your loan. I would recommend to talk with a professional mortgage lender to discuss your specific situation. There are many different financing options to consider and speaking with a professional can assist in determining the best solution for you.
- Key Lock Lending
- Contributions:100
Perform a loan request on zillow and you will receive quotes from an assortment of lenders.Make sure you're not an a declining market otherwise the PMI companies required by fannie and freddie to insure loans over 80% will not insure you to 95% and you will have to put 10% down.If you're in a declining market and would prefer to only put 5% down than FHA is a good alternative.You might also want to see what the current loan limits for Fannie and Freddie are in your area. Loans over 417k are now called "super conforming" instead of jumbo if they don't exceed the high cost limits set per county. Before Fannie and Freddie were capped at 417k max loan amount but you can go much higher in certain counties.If the loan amount of the new purchase still exceeds these higher limits than you will be in true "jumbo" class and you'll never get away with 5% down.
- John Paul Ledesma, "John Paul Ledesma"
- Contributions:8
BTW, if you are in a declining area the minimum down may be 10%
- John Paul Ledesma, "John Paul Ledesma"
- Contributions:8
To get an idea check bankrate.com
5% down what is the rate for a jumbo mortgage?
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