A Loan for All the Space You Need.
If you are up-sizing or buying a new home and need to borrow more than $484,350, give us a call today and ask about our Jumbo Loan Program. We offer great, low adjustable rates currently as low as 4.255% APR1 to qualified borrowers.
Here are the details:
- Primary residences only
- Purchases and refinances allowed
- Maximum DTI = 41%***
- Minimum FICO = 740
- Maximum loan amount = $2,000,000
- Maximum LTV = 95%*
- Product will be a 2/2/5 ARM loan
- Initial interest rate to be 4.25%*****
- All loans to follow standard FNMA U/W
- Maximum loan amounts*
1. $850,000 95% ltv (30% MI required)
2. $1,500,000 90% ltv (25% MI required)
3. $2,000,000 85% ltv (25% MI required)
- Loan Committee approval required
- Only properties in the State of Nevada will be eligible**
- Two appraisals will be required with the lowest value being used***
- Reserve requirement = 6 months PITI (retirement accounts excluded)****
- Net worth requirement = 10% of appraised value (retirement accounts and down payment excluded)****
***effective 10/6/15 DTI will be calculated based on 2% over start rate – 38% DTI maximum on loans >$1,500,000 with LTV > 80% and on loans up to $1,000,000 with cash out (max $250k) & LTV > 80%
We Do Business in Accordance With the Federal Fair Housing Law and Equal Credit Opportunity Act.
NMLS ID: 402788.
1. APR = Annual Percentage Rate and are listed "as low as." Mortgage rates excluded, call for APR.