Hello mortgage experts. Does anyone know if there are any 80/15/5 mortgages out there for properties in the 700K to 800K range? We have excellent credit, no debt and can afford the monthly payments with room to spare. Out concern is the down payment. My guess is that these are few and far between, but I thought I would check with the experts that hang out here. by lindar_723_137 from Los Angeles, California. Sep 15th 2011
That's a throw back from the early 2000's... the current lending environment discourages these types of loans. The attitude now when it comes to jumbos is that if you can afford a 800K mortgage, you should be able to put 20% down. That being said, there are lenders out there that will lend up to 90%, and there is a lender "Compass Bank" that has a professional program set aside for practicing resident Physicians, Attorney's, Dentists, and CPA's. Under this program, you can finance up to 1M at 100%. You should get with a local mortgage broker (not a bank), and get pre approved through them... they will be able to find the best loan product for your particular scenario. If he can't find you a loan, no one can... WilliamAcres.com
We have two portfolio lender programs that are the best you'll find.1. 760 FICO o 90% LTV to $250,000 over Conforming Jumbo Limits2 740 FICO 80/10/10 to $1,100,000.Both are available with a fixed rate or ARM.On Zillow I think you said the state was VA. These lenders only lend in CA.Happy funding, Rudi
U can help you in this as I have many programs that will get the funding you need fro your purchase. Give me a call I lend all over Califronia You can call me this weekend as I work both sat and sun.Gordon dempseySet2GoLoans,inc540 293 9296
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