Financing in 22102>Question Details

Amy, Home Buyer in Great Falls, VA

Jumbo mortgage with less than 20% down in Northern Virginia

Asked by Amy, Great Falls, VA Sun May 6, 2012

We are looking for a jumbo mortgage with less than 20% in Fairfax County. Is there anything available these days?

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Nick Pakulla’s answer
Hi Amy - our bank offers a second mortgage product where you obtain a 1st mortgage up to $625,500 and our portfolio second mortgage up to $300,000. You have to put at least 10% down. This will get you financing on a home right around $1 Million.

Our product is very popular in this area and I would be happy to go over the details with you.

0 votes Thank Flag Link Mon May 7, 2012
You can go up to 95% for the Jumbo assuming your credit meet the requirements.
1 loan up to $850,000 - 95% financing, no monthly PMI.
Combo 80/15/5 - 1st and 2nd mortgage up to $1,000,000 - 95% financing. No PMI

These programs are full documentation (assets and income) We offer other solutions for reduced documentation, investor and vacation homes has well, please contact us below to discuss the details.

Five Stars Mortgage
National Home Loan Resource
7 days week - 9am-8pm
Ph: 800-871-2636
0 votes Thank Flag Link Thu Apr 14, 2016
Yes as others have said you have a few options with less than 20% down in Fairfax. Jumbo is a term that means slightly different things. Conventional jumbo is $625,000 but FHA allows a loan of $729,750 and only 3.5% as a downpayment. With a conventional loan you will likely need 10% as a downpayment. If you would like to see payments, closing costs and get pre-approved for the loan please give me a call or email and we'll get started. Looking forward to speaking in the near future.
Brent Mendelson
Nmls 111407
0 votes Thank Flag Link Sun May 6, 2012
Brent- in reading from the FHA/HUD website, my understanding was that as of 10/1/2011, loan limits for high -cost areas dropped from $729,750 to $625,500. Is this not the case?
Flag Mon May 7, 2012
Amy, I am Falls Church and would be more than happy to offer you some guidance. Feel free to contact me with some details about what price range you are looking in and I can let you know what your options are.

Elliott R. Oliva

Mortgage Banker | Stearns Lending, Inc.

202.681.1636 direct |
0 votes Thank Flag Link Sun May 6, 2012
Stephen T. Thacker
(804) 291-0398 Office
(804) 291-0570 Fax
(804) 928-9966 Cell
5600 Cox Road, 1st. Floor
Glen Allen, VA 23060
NMLSR# 97497
0 votes Thank Flag Link Sun May 6, 2012

Refi or Purchase? If it is purchase money I would hope your agent (if using one) would have made some quality recommendations.

If you need one..I have about 25 years experience and have some excellent mortgage professionals I work with.

Feel free to contact me.

Kind Regards,

Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Re/Max Distinctive Real Estate, Inc.
0 votes Thank Flag Link Sun May 6, 2012

I can offer you an 80/10/10 transaction but i need more information about your transaction. Please contact me to discuss your options.

Noel Shepherd
NMLS # 313280
0 votes Thank Flag Link Sun May 6, 2012
can you lend in GA
Flag Sun May 6, 2012

It depends on how Jumbo you are talking, but FHA still offers 3.5% on up to 729,500 in Fairfax County if you can qualify and VA also has some good jumbo products.

I have several great loan officers I recommend if you want to contact me:

Lauryn Eadie
0 votes Thank Flag Link Sun May 6, 2012
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