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Jumbo loan in FL

What kind of mortgage rate would i get with fico score of 790? With that kind of score is there still a 20% requirement for doan payment for jumbo? Can it be done at 10% will it bump the rate higher the lower the down? by jaywade38 from West Palm Beach, Florida. Aug 10th 2015 Reply


Good Evening jaywade38, there are many different Jumbo options out there, including 10% down. Please send an email to Dtokar@houseloan.com and I would be happy to provide you with a complimentary, detailed analysis of what your scenario would look like. I look forward to hearing from you soon.

Aug 10th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

Yes, there are 10% down payment Jumbo loan programs and even ones without mortgage insurance. However, it will depend on your overall qualifications. The rate may be different, but again it will depend on the particular situation and qualification. Speak with a local loan officer or two and find out what your best options are, get pre-approved to know for sure. If you need a good referral you can reach me at sean.young@nafinc.com

Aug 10th 2015
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Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 596 contributions

There are not too many lenders that have 10% down. There is one lender that is a big bank that Brokers are signed up with that can help you. Their loan does not have mortgage insurance but there is a rate adjustment for going over 80% and then another adjustment when you go over 85%. So similar to lender paid mortgage insurance that is built into the rate. But the final rate will not have any other additional increase in payment for mortgage insurance. I think there is maybe one or two other lenders that go over 80% but as soon as you start talking to some brokers in FL and ask them for 90% jumbo loans they should know right where to send you.

Aug 10th 2015
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#135 ranked lender in Florida - 644 contributions

Hi, we can do a 90% combo 80/10 and no hit to rate on the 417k 1st, much better than 90% jumbo as hit to rate is to much...Call me Ralph Guertin 954-274-7725 Ralph@absolutelowrates.com

Aug 11th 2015
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 419 contributions

10% down on a jumbo is possible. Most jumbo lenders are more comfortable with 20%-25% down. Your local mortgage banker/broker should be able to guide you.

Aug 11th 2015
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