Not sure of your situation but do check with your current bank as well. Depending on your balance with them their rates can be the best for a jumbo. Northern Trust Bank was 20% down for a past client of mine which was available based on their relationship/assets. Guidelines with brokers making it difficult sometimes...don't hesitate to contact a bank direct.
I am happy to help with any needs.
Keller Williams Arizona Realty
Have you completed your purchase or are you still looking? Please call me at 602 326-5360 to discuss your current financing options. Some clients have been able to use their securities as collateral and get a loan through their wealth management account. It is a strategy that was very common during the stock market boom years and is becoming popular again as lenders have increased their criteria on credit and down payments.
Their are lenders we can use that offer loans up to 2MM with 20% down.
Pinnacle Wealth, llc
There are loans availiable for as little as 5% down. Of course everthing is contingent on your income , assets, cerdit score and sometimes your profession. I certainly would be glad to put you in touch with a number of lending institutions.
John C. Thorsen, ABR,SFR
REALTORÂ®, Executive Sales Associate
Previews Property & Relocation Specialist
International President's Elite, eAgent
Coldwell Banker Residential Brokerage
Scottsdale Executive Office Park
7975 N. Hayden Rd., C100
Scottsdale, AZ 85258
Arizona Best Real Estate
We can offer jumbos up to $2MM with 20% down but it will depend on your credit scores and income and documentation to be able to qualify. You can call me for a pre-approval or go to my website at http://www.truemortgageloans.com and apply at your convenience.
True Mortgage Loans
In addition to what others have said, the down payment required will also depend on the loan amount.
I have a lender offering a maximum loan amount of 1.5MM at 80% but if you bump the loan amount up to 2MM you'll need 25% down.
Juan from Paradise Valley hit the nail on the head. It will all depend on your credit FICO scores and also your reserves and income.
To save you a lot of frustration - find a Mortgage Broker who can shop the best deal out here right now at the best terms.
If you contact me - I would be more that willing to refer you to one of my preferred lenders or Mortgage Brokers who will answer any questions and give you ideas of what is possible in this market today
At your Service
Cecil Duarte- President and Designated Broker
Serving Valleywide Realty LLC
Much depends on your credit score, work history, and reserves you have. The jumbo market changes daily so it would be best to shop around but anything can change from the day you speak to the lender to the day you find the right home and submit the executed contract. At your price range you are looking closer at 30% down not the 20%. There are some lenders who might do 20% but read into them and try to avoid creative financing. Also during the transaction be prepared for a ride because this lending industry is tough and even tougher on high end transactions. Good luck with your search this is the best time to upgrade or buy your next luxury home there are some incredible deals out there and at your price range you will find a beautiful home. Feel free to call or email me if you are looking for a realtor to help you find your next luxury home.
Selling a Lifestyle!
Prudential American Associates