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Is it possible to get a jumbo mortgage ($1.1M purchase price) with 5% down in California?

  • March 03 2012 - Santa Monica
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Answers (7)

Profile picture for CA Direct Lending
Speaking of Porfolio Man, Chuck, I haven't seen him in a while.  Where is ol' Happy Funding, Rudy?
  • March 03 2012
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Profile picture for SoCal Engr
"My preferred mortgage broker said "10%, but it requires a seller carry back loan of 10%. So we do a 80% loan and seller does 10% loan and buyer puts 10% down."

That sounds like 20% to me. The fact that the lender doesn't care whose skin may help, but... If I am the seller, I have a nasty feeling that my "10% carry back loan" is subordinate to the lenders 80%. Not good.
  • March 03 2012
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I see why you have a 77% thumbs up ratio on your posts
  • March 03 2012
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I have a feeling someone will be along shortly to weigh in on this.
Not a bird, not a plane... Portfolioman!

 
  • March 03 2012
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Profile picture for CA Direct Lending
90% max is the highest I've heard of so far in our new age of real estate finance even with pledged assets.  
  • March 03 2012
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Every mortgage broker will have different options. My preferred mortgage broker said "10%, but it requires a seller carry back loan of 10%. So we do a 80% loan and seller does 10% loan and buyer puts 10% down."
  • March 03 2012
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Highly doubt anyone can do that unless you pledge some serious assets.   
  • March 03 2012
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