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Are there jumbo loans available with 10% down? .

My husband and I make around $450k a year and have $150k to put down on a house. We are looking at homes in the $1.2mm - $1.5mm range. Is this possible with our income and down payment?
  • September 12 2013 - Palo Alto
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Answers (13)

Hi there--

YES! there are options out there to put 10% down with a Jumbo Loan.  Our Company is known for our Jumbo Loan Programs.  Based on your income, it would appear that this is very feasible but it does depend on not just income , but debt.  There are specific  guidelines for the debt to income ratio so that just needs to be considered when you look at your options.  I am happy to help.  Please feel free to reach out !!

Best,
Aaron
  • October 14 2014
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There are 10% down options and even better options I am aware of with just 5% more down for an 85% Jumbo loan with NO PMI! If you can make that work you will get an amazing loan. You should really benefit yourself by contacting a Mortgage Professional to get a free full analysis of all of the options you qualify for based on all of your specific criteria. This will allow you to make an informed decision as to what will make the best financial sense for you and your family. If you have any additional questions or need some further assistance, my contact information is available on my Profile. All the best to you!
  • October 14 2014
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Yes, I offer Jumbo Loans up to 90% LTV with no Mortgage Insurance. Feel free to contact me on my profile to discuss your options.

All The Best!














 
  • October 14 2014
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Yes there absolutely are.
  • October 13 2014
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That is an excellent question! And the answer is yes, there most certainly is.

We possess a wide range of jumbo products that start at $625,501 and go up to $10MM. The required down payment can vary between those amounts depending on which end of that spectrum you fall and how much house you are trying to purchase.

For example, jumbo loans that range from $625,501 on up to $1MM will require a 10% down payment. For loan amounts exceeding $1.1MM and up to $2MM you will need to consider a 15% down payment. And for loans over $2MM you will most likely need to produce a full 20% down payment.

Please keep in mind that the examples I provided reference loan amounts and not purchase prices. So your final down payment could be surprisingly less than you expected. Also note that mortgage insurance is rarely if ever required on Jumbo financing.

If you have further questions or would like to review all the different loan options please feel free to contact me through my Zillow profile.
  • January 26 2014
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Yes they are available and I have some options to consider. Feel free to contact me thru my profile [Promotion removed by Zillow moderator. Please see our Good Neighbor Policy for information.]
  • October 11 2013
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Can't say on your debt ratios without knowing more details, but I do have an investor who offers 90% jumbo financing.  Sure be glad to discuss details with you, working on a Piedmont, CA  jumbo right now!  Can find out more about me [weblink removed by Zillow due to spam.  Please refer to our Good Neighbor Policy for details.] 
if you'd like to.  Thanks, Ted

  • October 10 2013
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Yes, there are lenders out there. You will probably need to work with either a regional bank that funds their own loans. A mortgage broker is the best way to find them.  Kimie Seaton at The Loan Story has access to ~50 lenders.  Pretty sure she has a lender for you.
  • October 10 2013
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Hello,

I have an investor that can do it with 15% down payment 80% first mortgage and 5% Home Equity Line of Credit with a minimum fico score of 720 and a max purchase price of $1,466,000.

Please let me know if I can assist you on this or for any other questions by clicking on my profile link.

Regards;
  • October 01 2013
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You can go up to 1.5 million if you can find a seller to carry a second mortgage for $250k with a 1.1 million first mortgage. The down payment requirements for jumbo loans were decreased recently with one of our programs.  (hotlink deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • September 15 2013
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For some jumbo loans for an amount of $850,000 or less it is possible to get a 10% down payment. Unfortunately, with your range it may be hard to find a jumbo loan with only 10% down. I would estimate that most lenders will ask for 20% with that price range for houses. Just ask around and see what you can get.

Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me.

Good Luck!
  • September 13 2013
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Profile picture for Roseville Loan Guy
It is possible, depending on the exact scenario you are talking about.

The higher you go the more difficult it is to find a way to get to 10% down. There are loan amounts where lenders start to decrease their exposure and increase the down payment requirements. Many/most lenders that is at a loan amount of $1,000,000.

So with a purchase of $1.2mm a $120-150,000 down payment would be fine but with a purchase price of $1.5mm it is going to be much harder to find someone that will do it with only $150,000 down, because the loan amount would be about $1,350,000 in that scenario and there really isn't much out there for a loan amount of that size with only 10% down.. 

Does that make sense?

We do quite a few jumbos in the $1-1.2mm purchase price range and only 10% down.

Sincerely,
Greg
  • September 13 2013
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Very possible and realistic, please contact a lender like myself, in order to get started. Good luck and get started.
  • September 12 2013
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