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Looking for a JUMBO loan in WA that offers 5% down?

by harriet.7652 from Lakewood, Washington. Jan 13th 2016 Reply


Greg Ocken (greg.ocken@movementmortgage.com)
#92 ranked lender in Washington - 9 contributions

Hi there. Traditionally most Jumbo Loans require 20% down, however, we recently announced an in-house jumbo loan that only requires 10% down. It's a great product, and since we underwrite it in-house, we can close quickly. What's the purchase price amount you're interested in? You can call me at 253.426.0016 to discuss in more detail. Thanks. -Greg Ocken NMLS669056

Jan 13th 2016
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Hello Harriet, email me at Marcus@pmccanhelp.com and let's see what we can do for you.

Jan 13th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,659 contributions

Much more info needed to properly answer your question.. specifically, what price range are you looking in.. If you're looking at a $2M home, then no.. you will definitely need 20% to 25% Minimum.. Also understand that Pierce County WA is considered a "High Cost Area" and as such, FNMA allows for a maximum loan of $540,500 which means you can go as high as $569K sale price and put 5% down.. If you go higher than that, then there might be some lenders who offer 2nd position liens.. but typically, those lenders will want to be capped at 90% CLTV which means you need a minimum of 10% down.. There might be a number of other ways to get there creatively, but your first step would be to contact someone local to your area. let them look at your complete loan profile, and then you can see what is or is not available to you. 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

Jan 14th 2016
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