Financing in 85255>Question Details

Vaughn L. Sa…, Real Estate Pro in 85255

I am looking for a 90% Jumbo purchase, $600K PP in North scottsdale. Any lenders that will allow 10% down????

Asked by Vaughn L. Sather, 85255 Mon Aug 23, 2010

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Kyle’s answer
Evette,

I cant help help but jump in and tell you that your questions is quite ignorant and ridiculous, in fact.

Why would a mortgage broker ask about financing? Well, there are literally thousands of lenders, with all different guidelines, that change daily nowadays. Its quite impossible to be an absolute expert on all products, in all states, everywhere, all the time.

Its EXTREMELY difficult in fact, just mastering all FHA programs for instance, there are pages pages of rules and regs, that are constantly being changed, and there are about a million different scenarios to deal with, no 2 loans are ever the same.

Going forward I will I expect since you're a 'real estate pro' you will never have a question regarding 'real estate'.
0 votes Thank Flag Link Sat Oct 16, 2010
I'm just curious why a mortgage broker is posting a question about financing... shouldn't this be your area of expertise.. just wondering

US Bank is doing jumbo loans though to answer your question
0 votes Thank Flag Link Fri Oct 15, 2010
Hi Vaughn,

call COURT CROFOOT 602-882-5588 he can do it. HOMERUN FINANCIAL. What are you up too.
0 votes Thank Flag Link Wed Oct 13, 2010
Hi Vaughn,

call COURT CROFOOT 602-882-5588 he can do it. HOMERUN FINANCIAL. What are you up too.
0 votes Thank Flag Link Wed Oct 13, 2010
20% is generally what you need, aside from having cross collateral or pledged assets. Email me for specifics based on your situation, I specialize in creative/jumbo loans, If I cannot do it, its cant be done.

kyle@luxefinancegroup.com
0 votes Thank Flag Link Fri Oct 8, 2010
Jumbo loans are still really difficult to qualify for in a perfect scenario. You may need to do a seller carry or lease purchase which in this buyers market might possibly work out well for you.

Sandy Farmer
Realtor, GRI, CSSN
John Hall & Associates
sandy@land-homes.com
Web Reference: http://homesales411.com
0 votes Thank Flag Link Wed Oct 6, 2010
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