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10% down jumbo mortgage $500K++

by aaronrandal35679 from Lewisburg, Ohio. Jun 26th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,917 contributions

It's possible, but there's also the possibility that you can do a $417K conventional first, with 10% down and the rest of a HELOC or 2nd mortgage.. many ways to make this work, but you need an experienced loan officer who can get creative, and who's got a network of lenders to choose from.. For this reason, it's best you 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 WilliamAcres.com

Jun 26th 2015
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Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

Hi Aaron!We may be able to do a 10% down NO MI loan-Please e-mail me at pete.bass@ everbank.com. Look forward to hearing from you!

Jun 27th 2015
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

Depends on the lender. If you are a veteran, you could get away with as little as 25% above the conforming conventional loan limit, which is most likely $417,000 in your area. Just pointing that out in case.If I can be of assistance, please feel free to contact me.Thank you

Jun 27th 2015
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Jamie Lynne (nationwidelenderforyou)
#142 ranked lender in Texas - 575 contributions

We could look at a 90% or 80/10 option. Let's discuss your loan scenario! My number is 800 315 8803 and my name is Jamie. I have been lending nationwide since 1989 and am happy to answer your mortgage questions. Jamie - NMLS 850582 , www.bartprequalifies.com, 800 315 8803

Jun 30th 2015
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