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Need a jumbo loan in CA, purchase price $725,000 with 10% down?

by karl_s from Long Island, New York. Feb 25th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Although most lenders want 20 % down on Jumbo loans, in your scenario, you might be able to use conventional, conforming financing.. Certain areas of CA allow for higher loan amounts, higher than the $417K... if you know which county your interested in, you can go to FNMA's website and lookup to see what the maximum loan limit is for that county.. here's the link... https://www.fanniemae.com/singlefamily/loan-limitsI'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. 480-287-5714 WilliamAcres.com

Feb 25th 2013
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SHAHROKH CHARLES BEROKHIM (mortgageusa)
#87 ranked lender in New York - 68 contributions

i need to know more....is this property going to be your primary residence? how much income do you show? how is your credit?

Feb 25th 2013
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Jason Vondrak (jvondrak)
#222 ranked lender in California - 1,741 contributions

In order to determine if you will qualify for that loan amount we will need more information including what your credit score is, your income, etc. Feel free to contact us at info@prospectfgi.com (we are a California-based lender), so we can go over more specifics to determine your interest rate for the jumbo loan.

Feb 25th 2013
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Brian Walther (BWalther)
#73 ranked lender in Georgia - 2 contributions

I can help you with that but I need to speak with you so I can see what program is best suited for you.Please call me at 678-483-8064.Thanks,Brian

Feb 25th 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Hi Karl, I see you are from NY. Why not give me a call and I can see what loan would work best for your situtaion. thanks Peter , 855 411 LEND you can email me at NYLOANMAN@aol.com. WWW HOMEMORTGAGEXPERT.com

Feb 25th 2013
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John Reindel (JohnnyR)
#102 ranked lender in New Jersey - 2 contributions

TD Bank does 10% down Jumbo Loans in New York but not in CaliforniaJohn Reindel908-451-5636

Feb 25th 2013
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John Reindel (JohnnyR)
#102 ranked lender in New Jersey - 2 contributions

TD Bank does 10% down Jumbo Loans in New York but not in California.John Reindel908-451-5636

Feb 25th 2013
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Matthew De Weese (Pacific1Lending)
#823 ranked lender in California - 55 contributions

You can also consider a FHA loan. They just however increased the down-payment from 3.5% to 5% down. More information will be necessary in order to determine your rate. A Conventional loan will require 20% down. I do know of some portfolio lenders that have special programs that will allow for under 20% without any mortgage insurance, but it will not be a Fannie Mae or Freddie Mac-backed loan. Give me a call if you ever need any help at (714)-717-7013. We can handle your pre-approval, send listings, and even have one of our local Realtors help you out if you haven't chosen one already.

Feb 25th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

you are going to need 20%

Feb 25th 2013
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