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JUMBO LOANS: Client has good credit, good income. Needs a 90-percent First.

Profile picture for natewolf
Real Estate Agent
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Client moving to NC. Needs a decent rate on a purchase of a New Construction home. Sales price $750,000. Wants 90-percent Loan, 10-percent Down. Anything available these days? Value of recent appraisal is $1M. It is a builder foreclosure. Bank's ready to sign contract back if we can get a loan approval letter.
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July 10 - Charlotte
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Profile picture for natewolf
Real Estate Agent
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Each and any of you are welcomed to contact me with your loan programs.
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July 24
85% LTV with no MI, 750 score to 800k
90% LTV with no MI, 750 score to 500k
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July 21
Profile picture for TarheelChip
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Since April 2009

ING is at 80% max + ING usually carries a pre-payment penalty for the lowest rates

Corporate investors does  have 90% Jumbo's in North Carolina and South Carolina. I have 90%. The max loan amount is $567k.  The problems is the loan amount. You need 90% on a Super Jumbo. Hard to impossible to find. Good Luck!!
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July 10
I do have an option to go to 90% CLTV. Client needs a 760 credit score, and we can originate a first/second mortgage up to 90% CLTV. However, NC is out of our foot print. I would need to inquire about an exception. Depending on how strong the client is with assets, credit, etc. they would be willing to accomodate. Let me know. 
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July 10
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Since January 2009

90% is not going to happen. 80% to 85% max. .... Happy funding, Rudi Hofmann.
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July 10
I had a buyer in that price range a couple months ago and heard ING was doing them from the lender I work with here in Raleigh but that may have changed.  Corporate Investors Group here in Raleigh also say they have a local lender as well that seemed to be doing it.
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July 10
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Since April 2009



US Bank is maxed at 85% on a purchase for our area. 90% is for refinance transactions only.

Next.....
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July 10
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US Bank
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July 10
 

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