Financing in Portland>Question Details

Nfalconeri,  in Portland, OR

We are looking for a lender who will do a 10% down jumbo loan around $765,000 in Portland, Oregon. We have 750 credit & $400,000 income.

Asked by Nfalconeri, Portland, OR Mon Jan 17, 2011

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13
Your buyers representative will have a suggestion for you but if I may suggest interviewing several lenders and would definitely include on your list, Eric Newman:
ERIC P. NEWMAN
Senior Mortgage Banker
Summit Mortgage Corporation
Direct 503.698.5801
http://WWW.GONORTHWESTLOANS.COM
He is a no-nonsense honest professional who will get it done if it can be done.
All the best,
Bonny Crowley 503-784-0011
Web Reference: http://www.bonnycrowley.com
1 vote Thank Flag Link Mon Jan 17, 2011
Rian and I are on the same team! Rian is right, the lender we work with is amazing and does most of their loans in-house so they have more control than many others! Contact Rian or myself to get in touch with our lender, they will take great care of you!
1 vote Thank Flag Link Mon Jan 17, 2011
Feel free to contact me and I can get you in touch with my lender to see if they will be able to do a loan like that for you. They are one of the largest lenders in town and do all types of loans. I look forward to hearing from you. Take care!
1 vote Thank Flag Link Mon Jan 17, 2011
If you are in need of more resources (and it's always a good idea to compare programs), you could call a favorite of mine: Rodd Miller at Pacific Residential Mortgage (503-757-4497). His office is in the Portland Metro area and he will absolutely tell you if he can do the loan (and, if he can't he'll refer you to a source). But, he brokers loans from a multitude of resources. Good luck!
Janeese Jackson, Principal Broker
Real Estate Resource
503-709-0802
jj@janeesejackson.com
Web Reference: http://fabulousportland.com
0 votes Thank Flag Link Tue Jan 18, 2011
Have you talked to Umpqua Bank? They portfolio their loans so you may have a better chance. I use Jennifer Leon at 503-219-6166.
0 votes Thank Flag Link Tue Jan 18, 2011
I have lots of experience with this exact scenario. We can use a "one loan" program with 10% down with no MI, or look at some 2 loan solutions with a VERY low rate 30 year fixed second that I've been having some great experience with.

Call me in the morning for more details- 503-488-1823

thanks!
Web Reference: http://www.pdxhomeloan.com
0 votes Thank Flag Link Mon Jan 17, 2011
I'm sure you've run into great difficulty with this. Most LENDERS want 20% down on a loan this size. What is the sales price? Is there acreage as well. Do you intend to have this as your primary residence? Any alternative choices?
0 votes Thank Flag Link Mon Jan 17, 2011
I like to use Gene at Guild Mortgage - he does a great job and if he lets you know you can do the loan - you can do it...I never have to second guess. Call me and I can get you all of his information. Lana at 541-956-5510!
0 votes Thank Flag Link Mon Jan 17, 2011
I have a few outlets for this... my contact info is available on my profile or my website below.
0 votes Thank Flag Link Mon Jan 17, 2011
Kevin McDowell is a Senior Loan Officer at Alpine Mortgage (cell 503.805.8930 email: kmcdowell@alpinemc.com)
He makes the process easy and is great to work with.
Best of luck,
Elena
0 votes Thank Flag Link Mon Jan 17, 2011
The lending environment is tricky and as a Buyers Agent I have several excellent Mortgage Brokers to refer my buyers to. Recently, I have been involved in two purchases that are similar to your question and they were set up as a $417k conforming first with a 10% second to 90% of the loan. The lenders who were willing to do the 10% second were Key Bank and US Bank. The buyers received better terms over the course of a their loan, but the difference was a skilled Mortgage Broker to partner with on the front end. Bank of America has also brought back their Dr. loan for physicians that is up to 90% on jumbo's. I am happy to connect you if you would like.
0 votes Thank Flag Link Mon Jan 17, 2011
I also have a great lender who might be able to take that on for you. I am happy to share her information.
Web Reference: http://www.realestatecj.com
0 votes Thank Flag Link Mon Jan 17, 2011
I recommend contacting Vince Kingston at: 971-221-8525.
He is a genesis in this industry and should be able to help you out with your request.

Kevin Levy
503-267-7535
M Realty
http://InnerPortlandHomes.com
0 votes Thank Flag Link Mon Jan 17, 2011
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