John Smith, Home Buyer in Fort Lauderdale, FL

95% LTV Jumbo Mortgages for strong qualified borrowers? $525-$600K purchase price.

Asked by John Smith, Fort Lauderdale, FL Mon May 27, 2013

I am wondering in the mortgage market in SE FL has opened up again for the higher LTV ratio's for Jumbo's? I am a well qualified borrower (except the down payment cash for a traditional down payment) with a 780 FICO, $0.00 in debt with the exception of a few mortgages on investment property that is cash flowing, and a strong mortgage history for 9 years. I am gainfully employed and between my job and a company I own I earn between $110-$120K per year. Is there a 95% LTV jumbo product on the market for a $525K-$550K primary residence in Broward County? If not, does anyone know of any 'piggy back' jumbo's that are available with a conforming 1st and a small second of $100K or less to get you into the jumbo category with a combined LTV of 95%? I understand MI will be a requirement on either loan option. Thanks greatly. John

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Answers

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John Smith,

As far as I know, except for a few programs for certain borrowers, 90% LTV Jumbos are the max for most bowers.

The red flag that I in your post is the mention of owning a company. Reason? Like most Self-Employed borrowers, Its likely you have an awesome CPA who does their very best to make you look as Poor as possible on paper to minimize your taxes.

Maybe your situation is different, but usually these days Self Employed borrowers can actually afford what they wish to purchase, just the tax returns tell a different story.

As far as a 95% CLTV piggyback, what is that? Wasn't that something that used to be offered back on that planet, in that far away galaxy called the early 2000s? lol

Don't we all wish the 80/15/5s were still offered! However, there are still a few creative ways to purchase.

If interested in options email me at Steve@pro-option.com

==
2 votes Thank Flag Link Tue May 28, 2013
http://www.95Jumbo.com

Think you need 20% down on a JUMBO loan?
THINK AGAIN! Find out about the 5% down with NO Mortgage Insurance

5/5 ARM - Interest rate and payment can change after 5 years and every 60 months thereafter.
Maximum increase in rate at first change is 2%
Loan Amounts from $300,000 to $729,750
Up to 3% Seller Help
No Minimum Cash Reserves
Single Family, PUD, Condo and 2-4 Units
Max 10 Acres
Purchase and Rate/Term Refinance
0 votes Thank Flag Link Tue Aug 12, 2014
John,

I have some programs that may work, but I would need a little bit more information. It's not really appropriate info to be discussing on a public forum of course, you email me I will send you some information and ask you a few questions to see if I might have something that meets your needs.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”

Regards,

Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

http://www.loansfromrob.com/quote/
0 votes Thank Flag Link Fri Feb 28, 2014
Hi John,

I have a 90% LTV Fixed rate Jumbo up to $850,000. This is available to people with credit scores higher than 680. Let me know if i can help

Ryan
954-394-9005
0 votes Thank Flag Link Fri Feb 28, 2014
I received an update that the 95% LTV Jumbo loan program will be available in Florida shortly. Please check back with me if anyone is interested. This will be available on condos as well. Thanks!
0 votes Thank Flag Link Thu Feb 13, 2014
I can get you into a 90% jumbo and if the property was in a county with higher FHA limits then I could do that at 3.5%. With new Dodd-Frank QM in effect, your income and down payment play a larger role.
Web Reference: http://www.ijumboloan.com
0 votes Thank Flag Link Sat Feb 8, 2014
Unfortunately I can't assist you with Florida but there is a 95% LTV Jumbo loan program with NO mortgage insurance available to borrowers on the east coast that would help many others in a situation such as yours. Information can be found at Jumbo95.com. This is the only 95% Jumbo loan program I am aware of so I hope this helps.
0 votes Thank Flag Link Wed Feb 5, 2014
I just helped a client of mine get a 1.4 mill jumbo loan with 10% down and a 725 score. There are a hundred loan products out there a lot of lenders only know what they offer.. I have personally helped people in your shoes accomplish what you need. Visit our site myself or my partner handle all jumbo loan clients we will take care of you and get you with one of our brokers.
0 votes Thank Flag Link Thu Nov 14, 2013
The red flag that I in your post is the mention of owning a company. Reason? Like most Self-Employed borrowers, Its likely you have an awesome CPA who does their very best to make you look as Poor as possible on paper to minimize your taxes.

Maybe your situation is different, but usually these days Self Employed borrowers can actually afford what they wish to purchase, just the tax returns tell a different story.

As far as a 95% CLTV piggyback, what is that? Wasn't that something that used to be offered back on that planet, in that far away galaxy called the early 2000s? lol

Don't we all wish the 80/15/5s were still offered! However, there are still a few creative ways to purchase.
0 votes Thank Flag Link Thu Nov 14, 2013
Yeah 95% LTV on a Jumbo does not seem very likely, maybe 90% if your lucky..
0 votes Thank Flag Link Thu Oct 31, 2013
Randy Roberts stop spamming Trulia. The Lendersnetwork is a scam buyers beware. They hire people to creat fake profiles and spam Truila.

Look at Randy Roberts profile he has 100s of spam comments left on blogs. This company uses companies overseas to create fake profiles to leave comments all over the internet to promote their company. There a mortgage lead company that wants to sale your information to mortgage lenders and brokers.
0 votes Thank Flag Link Thu Oct 31, 2013
Check with a professonal lender about different options. There are a variety of products that can be tailored.
0 votes Thank Flag Link Mon May 27, 2013
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