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10% down jumbo loan in Miami Beach, FL?

by lauren_chias893600 from Miami Beach, Florida. May 20th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

More info would be needed, but in general, if your purchase price is somewhere around $750K to $850K you should be able to do 10% down.. but if you above that, i think you will find very few options available to you.. the higher priced the home, the larger the down payment requirement will be.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

May 20th 2015
Kim Bennett (KimBennett)
#197 ranked lender in Florida - 6 contributions

Good Morning Lauren,Additional information is needed to give you an accurate answer and quote for down payment, fees and rate. Please do not hesitate to contact me for a no obligation consultation. Over 25 years in the Mortgage Industry, I would love the opportunity to earn your business. I am available at 239-603-8127. NMLS license # 305522.Thank you,Kim Bennett

May 21st 2015
David Ortega (DavidOrtega)
#53 ranked lender in Minnesota - 231 contributions

Hi Lauren, we can do this for you if your credit, income and assets check out. We can do this as 1 loan or we can do this as a 1st and 2nd mortgage stack loan. We can show you options on fixed rate or ARM rates. We quote for free. Our Florida branch will be opening next month in the Orlando area. While it's a bit of a jaunt, we would be willing to send an agent to your area to meet with you if you like. Please give us a call or shoot us an email so we can help with getting you a Pre-Approval letter. David Ortega - Satori Mortgage - - 954-900-9788 -

May 21st 2015
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

Yes, there are jumbo loans available with only 10% down payment. Of course, like any loan you it will depend on your complete credit, income, debt, asset, ability to repay and property picture. I would suggest to speak with a local loan officer, share your information and see what all of your available options are. Best wishes, Sean

May 25th 2015
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