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Lenders in SF offering a 85 to 90% LTV Refinance on Jumbo Mortgage?

Own a condo in SF that is currently worth about $1.1M, and owe about $917k (combo of first mortage and HELOC).  I would like to refinance for a better rate, but I can't find a program that works with the loan to value ratio.

Does anyone know a lender that would refinance these loans at a good rate?

  • January 18 2011 - Castro-Upper Market
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Answers (12)

Try US Bank retail or BBVA Compass will probably do that deal.  I can refer you to some one at BBVA Compass, let me know.
  • January 20 2011
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"However, would like to know if someone finds an  85% to 90% jumbo out there."

The OP does not need an 85% jumbo, they need a 70% jumbo with a HELOC subordination. 

  • January 20 2011
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What Rudi said.  However, would like to know if someone finds an  85% to 90% jumbo out there.  Would doubt it especially considering MI wouldn't likely be available for it.
  • January 19 2011
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Ray, as you are certainly aware, what someone may qualify for today, may not be available tomorrow. Especially in today's market, guidelines change far more often than in the past.

Happy funding,Rudi
  • January 19 2011
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Thanks White Picture for your referral link. Much appreciated.

Happy funding, Rudi
  • January 19 2011
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@ Bentley Advisors:  When did Bank of America end that program?
  • January 19 2011
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By now, you may have already discovered that BofA retail cannot exceed 80% on a jumbo loan. Sorry to see you were sent on a wild goose chase w/ misinformation. I'm not aware of anyone that will do the deal, retail or wholesale, unless you pay down principal to fall below the 80% LTV level. Pls come back to post if you do indeed find someone to do it. Best of luck to you.
  • January 19 2011
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Try to contact with this lender.
http://www.umboc.com/Default.aspx
  • January 18 2011
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@HUGD.  I owe $768k on the first mortgage (30 year fixed), and I owe $136k on the HELOC.  Guess I owe a little less than $917k

@Ray Blindauer.  Yes, please send the contact.  Thanks.  The original loan is also through BofA.
  • January 18 2011
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What is the amount of the 1st and what is the amount of the HELOC; this will make a difference.
  • January 18 2011
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maybe US BANK ...
  • January 18 2011
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I only know of one lender who is doing jumbo loans over 80% LTV and that's Bank of America retail.  I have the name of a branch manager I can pass along to you who I refer loans to that I can't do in wholesale.  He can get loans done more quickly than the 60-120 days other retail branches are taking.  
  • January 18 2011
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