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What is the minimum down payment on a Jumbo Loan?

I am looking to purchase for about 580k-600k, and wondered what the typical amount is to put down on a property of this size? by stevenpar44216 from Aspen, Colorado. Jul 16th 2015 Reply

Michael Storey (
#108 ranked lender in Colorado - 4 contributions

Hello Sir or Maam:We have several portfolio programs that will allow for 5% down with no PMI.Please let me know if I can assist in any fashion.All The Best,Michael StoreyRegional ManagerGeneva Financial, LLC303-223-4000ms@genevafi.comnmls203936

Jul 16th 2015
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

If your in Pitkin County, then you would be in FNMA's "high balance" loan limits.. which would allow you to use conventional financing with only 5% down. you can borrow up to $625,500 and no jumbo financing is necessary. Understand that if you put less than 20% down, you will pay mortgage insurance regardless of what others tell you. Mi can be paid for in a number of different ways.. you can pay monthly, upfront, a combination of both, or you can go "Lender Paid" meaning the lender charges you a higher rate and pays the MI for you.. but in all these scenarios, it's YOU paying it.. so don't be fooled.. There are some "Portfolio" loan products out there that might allow for low down payments, but typically these lending programs have higher than normal rates and fees, so be careful there as well.. The best advice I can give you is to 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

Jul 17th 2015
Jamie Lynne (nationwidelenderforyou)
#139 ranked lender in Texas - 576 contributions

Depending on your credit score, income and assets you will need 5-10% minimum. Let's discuss your loan scenario! My number is 800 315 8803 and my name is Jamie. I have been lending nationwide since 1989 and am happy to answer your mortgage questions. Jamie - NMLS 850582 ,, 800 315 8803

Jul 17th 2015
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

5% would be your minimum down payment. This of course depends on your credit, income and debts. If you have any questions please call 303-521-7169 or email, best wishes, Sean

Jul 20th 2015
Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 1,373 contributions

Give me a call and I will be happy to discuss with you. I have a lender that can do this with 10% down. But depending upon the zip code it may qualify for a loan amount over $417,000 which is Super Conforming. My company is based in Colorado and I am familiar with the mountain areas. So if it is a second home or primary also makes a difference. My contact info is 303-955-5606 and email is

Jul 22nd 2015
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