They may want to approach their bank for a personal relationship loan as getting a jumbo loan product alone will be difficult. By mixing the relationship loan with a mortgage product, they may get the loan done, especially with the cash reserves.
Jeffrey Masich, Realtor, GRI, MBA
Arizona homes and land for purchase or sale
He is the best Lender I have ever worked with in my 25 years in the Real Estate business...
10% down isn't realistic for that loan amount. However, contact Glen Nielsen (602.369.1520) at Movement Mortgage. They have some unique programs, he would be happy to discuss their options.