Financing in Agoura Hills>Question Details

Amwagner, Home Buyer in Pacific Palisades, CA

Mortgage with 10% down?

Asked by Amwagner, Pacific Palisades, CA Tue Jan 29, 2013

Our mortgage broker has us approved for a $1,100,000 loan with 15%down, but we only have 10%. Are there options out there for us? Are there mortgage brokers that are better than others with more resources? We are in Los Angeles.

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Shaida Tafreshi’s answer
yes i can do this jumbo at 10% down. i am a mortgage banker with broker sources.
i am Shaida Tafreshi Loan Officer and i work at RPM Mortgage, a direct lender with correspondent and broker channels.

contact me if you are still on the market or know anyone who does want to buy a 7 figure home with 10% down :)
1 vote Thank Flag Link Tue Jun 18, 2013
Are you already in contract?
Do you have a relative that could help you with that extra 5%?
Did the loan broker factor in the reserve requirements (post closing)? The 10% might not be all your need because for Jumbo size loans, the lender would most likely want to see 6 mos worth of PITI in reserve.

We do offer 90% combined loan to value loan for up to 1.375 Mil., We will do 80% first (if you have 740 minimum fico) and are OK with a 10% second lien behind our first...(I just do not who will do that loan...most likely Private Money, Seller Carry Back, Employer 2nd..etc. But regardless of whether the lender of the 2nd lien is a private-party individual or an institution, a copy of the note will be required and would have to meet certain parameters...

Fee free to call me for further details (we do loans anywhere in CA)

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - DRE 01380701
0 votes Thank Flag Link Tue Jan 29, 2013
Hello Amwagner, What are your fico scores, W2 wage earner or self employed, debt to income ratio and how much reserves do you have? It only takes a few dozen questions to qualify you in minutes. Here are some links to study and consider.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
20+ Years Experience
DRE# 01140252
NMLS# 297251
9am till 9pm 7 days
0 votes Thank Flag Link Tue Jan 29, 2013

I have a wonderful lender I recommend to all my clients.

Fell free to contact me at (310) 600-4240 or
0 votes Thank Flag Link Tue Jan 29, 2013
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