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how much down?

We're looking to purchase a home in northern CA in the $800,000 range. What are lenders requiring for down payments? We can scrape together a 15% down payment now. by scment_102_827 from Roseville, California. Sep 30th 2011 Reply


Andrew Vierra (Andrew Vierra)
#116 ranked lender in California - 12 contributions

In our area (Counties of: Placer, Sacramento, El Dorado, Yolo) most lenders are requiring between 25% and 35% for Jumbo financing (any loan over $474,950). This is because our area is considered "declining" per appraisals. In the bay area, you can get Jumbo financing with 20% down.I will soon have financing that will allow 20% down. There's also the possibility of receiving a gift for a portion of the down payment. You might also consider--if it's an option--borrowing from a 401k.We have our own bank for financing--and I can also go to other banks--to get financing, meaning with one application I shop for you. My office is in Folsom and you can reach me at Andrew@WealthWiseMortgage.com or 916-932-7160. Go to my website and learn about me and various loan programs. I'm available to talk today or over the weekend, if that's convenient.I look forward to hearing from you and exceeding your expectations.

Sep 30th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Compass bank has a program exclusively for Doctors, Attorney's, CPA's, and Dentists... they will do 100% financing up to $1M... WilliamAcres.com

Sep 30th 2011
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Rudi Hofmann (CaPortfolioLoans)
#278 ranked lender in California - 380 contributions

720 FICO score we can go to 85% LTV up to $800,000 loan amount.740 FICO 90% CLTV 80/10/10 to $1,100,000760 FICO 90% LTV up to $250,000 over High Balance Conforming Loan Limits.Love to help you.Happy funding, Rudi

Oct 1st 2011
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