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Are there any special programs out there in MN for low down payment on a Jumbo Loan?

by shellie.p898 from Beaver Bay, Minnesota. Aug 18th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

I'm sure there is.. I know of a nationwide lender that does 100% financing on jumbo up to $1M, but it's only available for Dr's, Lawyers, CPA's and Dentists.. Otherwise, most other Jumbo programs are going to require 10% down or more depending on your sale price.. 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 NMLS# 226347

Aug 18th 2015
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Joe Becker (JoeBecker)
#60 ranked lender in Minnesota - 55 contributions

Possibly, depending on what one would consider LOW down payment. Jumbo loans do have minimums but lets look into your scenario. Call me anytime today!651-636-2840

Aug 18th 2015
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Jeremy Redlinger (JeremyR)
#30 ranked lender in Minnesota - 191 contributions

I have a jumbo product that allows for just 5% down with no Mortgage Insurance. Give me a call at 763 400 7577 for more details.

Aug 18th 2015
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David Ortega (DavidOrtega)
#54 ranked lender in Minnesota - 220 contributions

We have a 10% down, 1 loan product and a 5% down, stack loan product. We would love to quote your scenario. Feel free to give us a call or shoot us an email. 952-544-1706 - info@satorimortgage.com - www.SatoriMortgage.com

Aug 18th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Realistically, getting anything less than 10% down on a jumbo loan is basically impossible. And to do that, you have to be pretty clean with great credit score. Most people will need at least 20% down. I suggest contacting a local lender, giving them a full application, and let them zero in on your specific situation and what you can qualify for. I am right here in Minneapolis / St Paul, visit me at www.Minneapolis-Mortgage.net

Aug 18th 2015
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Shawn Reese (sreese440@gmail.com)
#71 ranked lender in Minnesota - 8 contributions

You are most likely going to need at least 10% down. There are rumors of a 80/15 loan where you are only required 5% down on a jumbo loan. I have heard you end up putting 10% down for a number of different reasons. I would find a lender that you trust and go with his or her advice. I am licensed in MN and would be happy to show you what I have to offer. I have a capped JUMBO product. Our rates are very competitive and save you some money at the same time. Shawn ReeseAmerican Mortgage & Equity ConsultantsNMLS# 218102763-390-7182

Aug 18th 2015
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