Home Buying in San Jose>Question Details

Rany Elsayed, Both Buyer and Seller in Portland, OR

Jumbo loans with 5% down

Asked by Rany Elsayed, Portland, OR Tue Jan 15, 2013

I'm moving to the San Jose area and would like to purchase a house around $1M with 5% down. My income is >$200K, assets>$300K, and credit score is 805. Most of my assets are options/derivative trading so I can't really use any Pledged Assets programs. What are my other options (with and without PMI)?

Help the community by answering this question:


I just helped a client of mine get a 1.1mill loan with 5% down with a 720 score in LA. There are so many loan programs out there no one can know them all. I have personally helped people in your shoes accomplish what you need. Visit our site I will get you with a broker who can do this deal.
4 votes Thank Flag Link Thu Oct 24, 2013
Yes I know a couple lenders that will do a conventional loan with 5% with significant assets. The Lenders network is partnered with most of the mortgage companies that do.
2 votes Thank Flag Link Sat Aug 10, 2013
We have 95% jumbo financing available up to $850k loan amount or just under $900k purchase price.

1 vote Thank Flag Link Mon May 11, 2015
Good morning Rany

Thanks for your question.

Rany, do get in touch with Melanie at 408-355-1523

If I can help you further do let me know.

Best regards

Coldwell Banker
1 vote Thank Flag Link Sun Jan 20, 2013
Denise, Bill, and Charles,

Thanks for your prompt response.

Denise: I’ll contact these bankers. This is consistent with my understanding that usually such portfolio mortgages are better originated at the source lenders like large banks.
Bill: I believe I can have some options if I did a piggy back 70/25 conforming loan. I’ll give you a call tomorrow.
Charles: I’ll contact Doug before the end of the week.

1 vote Thank Flag Link Tue Jan 15, 2013
Hi Rany,
I would be delighted to put you intouch with a number of lenders who would be happy to discuss your loan options with you.
I believe that you need to move away from high street banks as your loan will not fit into their box.

One of my lenders is a private mortgage banker who have the ability to look at you assets when assessing your loan the other is a lenders who can push the limits past most height street banks.

Please e-mail me for their details


(408) 300-3184
CA DRE # 01869087.
1 vote Thank Flag Link Tue Jan 15, 2013
Dear Rany Elsayed~

Thank you for your post. I would suggest you contact a high profile bank. Even though you are going for a home in a high purchase price I would suggest a major bank pre-qualification. Most sellers really want it, and if you are going for a short sell or bank owned they will insist on this. I have provided 3 contact officers that I highly recommend. Also before you start your search you really should know all your options. 2 thumbs up on your first step.

Best Regards~

Denise A. Szyszlo Realtor
DRE 01441160
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Email: denise.szyszlo@century21.com
CENTURY 21-Alpha
419 E. Hamilton Ave,
Campbell, CA 95008

1. Kevin Tran
Home Mortgage Consultant
Wells Fargo Home Mortgage
308 W. El Camino Real
Sunnyvale, CA 94087
408.328.1248 Tel
408.772.2921 Cell
408.228.0882 eFax

2. Linda Delaney-Hitchcock
Wells Fargo Home Mortgage
Linda Delaney-Hitchcock
Home Loan Consultant
650.813.3900 Office
650.813.3903 Direct
408.839.9203 Cell
866.619.3135 Fax

3. Shanan M. Resop
Mortgage Loan Officer
Bank of America Home Loans
1999. S. Bascom Avenue, Suite 810
Campbell, CA 95008
408.858.1028 cell
408.963.2654 office
866.515.1686 fax
1 vote Thank Flag Link Tue Jan 15, 2013
Hi Rany, actually there are not any financing options available with less than 10% down for loans over $625,500, other than FHA which lets you borrow up to $729,750 (unless you use Pledged Assets). You can always attempt to find a Seller who might want to finance this much, instead of paying long term capital gains, but that is truly a "needle in a haystack". Your best bet would be to jump in while rates are at historical lows and get into the bay Area "equity chain". With your $50,000 you could purchase a $780,000 and get started.

Please give me a call to discuss further at 408-957-7600.

Bill Phillips
First Priority Financial Silicon Valley
DRE # 00942918 NMLS # 230295
1 vote Thank Flag Link Tue Jan 15, 2013
Thank you for your question:

The best person to answer you question is Doug Jones, who is the owner of Mortgage Magic.

You may reach Doug Jones at his Cell Phone: (408)209-6773.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
1 vote Thank Flag Link Tue Jan 15, 2013
Go talk to Home Loans For All. They do a ton of jumbo loans plus they'll give u multiple rates to choose from.
0 votes Thank Flag Link Wed Jun 10, 2015
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