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Jumbo Mortgage Guidelines

2nd 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

 

  • 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,

Loan Amounts up to 3 Million

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

 

Investment Property– (ARM guidelines)

0 – $1,000,000 – 50% LTV

Exceptions above this loan amount.

Minimum FICO on all Loans is 720 (Exceptions with lower FICO on case-by-case basis)

DTI – 40% (Exceptions on DTI on case-by-case basis)

Minimum of 12 months PITI in Reserves (No Exceptions to this rule and the more assets the better for other exceptions