Jumbo Loan Specials

If your current interest rate is higher than what the advertised rates are that you are hearing on the radio and all over the media, chances are, It’s too high.

You are not only paying to much each month, but over the life of your loan, you are currently on track to pay tens to hundreds of thousands more than you should if you take the time and allow me to help you restructure your mortgage.

You need to take action on your part to allow me to help you pay your house off faster by refinancing while market conditions allow you to rates are very attractive for the jumbo market.

If your Loan amount is under 417,000

You could qualify for having a 30 YR interest rate below 5% & a 15 YR interest rate below 4%

Why should you listen to me?

Ben Gerritsen has been in the mortgage / finance / investment & insurance industry his whole working career.

• I am NMLS licensed (a Federal Licensing (most banks & credit unions don’t ask or require their loan officers to be NMLS licensed)
• I watch the markets daily.
• I know the products
• As a broker, I have access to more programs to help each individual based on their needs.
• I know the Jumbo Market very well
• Life/Health Insurance licensed
• Member of NAIFA, National Association of Insurance & Financial Advisors
• I understand the finance industry better than the average loan officer and credit unions will offer through the loan officers
• I understand credit repair and how to help clients with credit issues.

I consistently beat the retail banks and credit unions for mortgage financing every time.  Some cases it is with the interest rate, some people it’s with the closing costs, some it’s just getting them financing when the loan officer at the credit union didn’t know how to help them.

Jumbo Mortgage Loan products in Utah:

If you live in the following counties:

Salt Lake, Toole, Summit & Wasatch Counties (Utah)

If your loan amount is between:

$417,000 & $729,500 (Super conforming loan limit in Utah)

You may be eligible for a Super Conforming Loan

If you live in a county other than listed above in UT with loan amounts above 417,000 or for counties that have super-conforming loan limits, loan amounts greater than 729,500 see below

- 90% LTV available with NO MI
- Cashout available to 90% with no effect to the rate

- Debt consolidation is not considered in the DTI
- ARM’s and Fixed available
- 50% DTI on fixed loans, up to 90% LTV

- 41% DTI on ARM’s, up to 90% LTV

- 50% DTI on ARM’s , Limited to 80% LTV
- no bump to the int, rate for loans up to $1 million
- 0.20% bump to the rate for loans $1 M to $2 M

- NOO to $900k with only 0.20% bump to the rate
- Escrows are optional with no effect to the rate
- 620 Fico (allows for 1 x 30 mtg late in the last 12 months) LTV to 80% and $500k Loan Amount
- Gift of down payment allowed (80% LTV entire 20% can be gifted)

2^nd Mortgages & HELOC’S

HELOC’S up to $350,000 & 85% LTV

650 Fico Score required,

1^st Position HELOC = 75% LTV

2^nd position HELOC = 85% LTV

Jumbo Mortgage Loans in Utah

Loans over $417,000

• Fixed Rate Jumbo Loans (loan over 417K),
• ARMs (5/1, 7/1 & 10/1 ARM’s)

For a specific rate quote, each person’s rates are based on your loan amount, LTV, Fico Score & DTI ratio

Fixed RATE JUMBO LOAN Guidelines

Primary Residence

90% LTV, up to 800,000 Loan Amount

Less than 12 months seasoning is: 80%

Some situations are a lower LTV

Maximum Debt to Income (DTI) ratio: 45%

ARM Jumbo Loans, above $417,000

30 YR Amortization

5/1 ARM Interest rates available

7/1 ARM,  Interest rates available

10/1 ARM  Interest rates available

Primary Residence – (ARM guidelines)

0 – $1,000,000 – 80% LTV (up to 50% DTI)

$1,000,001 – $2,500,000 – 70% LTV

$2,500,001 – $3,000,000 – 65% LTV

Loans above 3 M, can go to 5 to 5.5 M loan amount, limited to 60% LTV

2^nd Home– (ARM guidelines)

0 – $1,000,000 – 70% LTV

$1,000,001 – $1,500,000 – 65% LTV

Exceptions above 1.5 M limited to 60% LTV

Investment Property– (ARM guidelines)

0 – $1,000,000 – 50% LTV

Exceptions above this loan amount.