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Jumbo loan in FL. Looking for a low down payment option

by g.robbins394 from Jacksonville Beach, Florida. May 16th 2016 Reply


Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

I recommend you locate a broker doing mortgage loans in Florida who offers a low down payment jumbo option. Mostly, for borrowers seeking a true jumbo loan (over the maximum high balance conforming amount in the particular location I have provided a first and second mortgage, though now we have an option of 10% down payment for eligible primary borrowers. I only do mortgage loans in CA.

May 17th 2016
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Much more info needed to properly answer your question.. Unless your in the Key's, conforming loan limits are maxed out at $417K. But depending on the purchase price, and what you consider to be "Low", the down payment requirements will vary.. Some lenders will do 10% up to $750K, while others might be at $650K.. but if you are looking in the $1M to $2M, then expect down payment to be 20% +.. There's also the option of doing a first mortgage at $417K put 10% down, and finance the balance in a 2nd position loan.. this would give you a "Blended" rate lower than what jumbo rates are at. Anyway, as I said, more info needed.. For this reason, I suggest 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 NMLS# 226347

May 17th 2016
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Dawn Gurka (dawn.gurka@hgfloans.com)
#311 ranked lender in Florida - 3 contributions

Please email me dawn.gurka@hgfloans.com, apply on my site WWW.Dawngurka.com

May 16th 2016
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Dawn Gurka (dawn.gurka@hgfloans.com)
#311 ranked lender in Florida - 3 contributions

Please call my Cell 352-789-3558

May 16th 2016
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Sara Deere (Mortgagequeen2)
#1 ranked lender in Missouri - 550 contributions

Movement Mortgage is in FL and has more than one down payment option available.

May 19th 2016
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Dawn Gurka (dawn.gurka@hgfloans.com)
#311 ranked lender in Florida - 3 contributions

I am Licensed in Florida to Originate Jumbo and Conforming loans.

Jun 26th 2016
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