If you are in the market for a jumbo mortgage that offers a fixed interest rate and minimal down payment requirements, we can help. Since many banks and mortgage lenders have cut the amount of loan programs available for borrowers who need a jumbo mortgage, you must choose a mortgage company who can secure a loan program tailored to your high-cost purchase or refinance needs. At MortgageDepot, we offer 90% financing on fixed-rate jumbo mortgages with loan amounts up to $1,500,000 with no mortgage insurance requirements.
You can qualify for both purchase loans and rate/term refinances for 30 year terms under the current guidelines, with a 760 credit score. If the home is your primary residence, you may qualify for loan amounts up to $3 million. We also offer cash-out refinances on primary residences with LTV’s up to 70 percent.
Key Program Features:
- Purchases and Rate/Term refinances on primary residences up to $1.5 million with a 90% LTV, 760 credit score and no MI Requirements
- Purchase and Rate/Term refinance loan amounts to $3 million on primary residences
- Cash-out refinances up to 70% LTV for primary residences
- Purchases on second homes up to $1 million with a 90% LTV, 760 credit score and no MI Requirements
- Rate/Term refinances on second homes available up to 80% LTV
- For Purchases: One full URAR appraisal required for loan amounts <= $2 million
- For Refinances: One full URAR appraisal required for loan amounts <= $1.5 million
- Available for self-employed borrowers
- Owner-occupied primary residences (1-2 unit), second homes (1 unit) and warrantable Condos/ PUDs
- All required appraisals must be ordered through approved AMC’s
- The minimum loan amount is $417,000. Loan amounts between conforming loan limits and agency high balance are eligible.
MortgageDepot is a New York mortgage broker that specializes in the Jumbo mortgage market because they are located in New York and being an expert on Jumbo loans is a must. If you are rate shopping or program shopping please get in touch with us and let us show you what we can do when it comes to Jumbo loan financing. We also offer No income verification jumbo mortgages and most popularly our jumbo loan program for foreign nationals for those people that live abroad that want to invest in the New York real estate market. Give us a call you’ll be glad you did.