Home Buying in Encino>Question Details

Shahla Shafii, Real Estate Pro in Encino, CA

is any sales in Encino,ca for 2.5 million or if someone wants to get the loan from Bank and purchase this home for 2.5 m how much down you need to ha

Asked by Shahla Shafii, Encino, CA Sat May 14, 2011

Help the community by answering this question:


Old post. But here is my input. Today you can receive up to 80% loan to value to $2M with a 760 FICO score, suitable employment and assets for reserves, with excellent credit profile. Then 75% to $3M and 70% to $5M. With suitable pledged asset you may receive up to 90% to $5M. Today's rates are as low as 3.625% on a 5/1 interest only ARM if needed to be within DTI guidelines. Asset utilization may also improve the borrowers DTI.

Happy holidays, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Wed Dec 21, 2011
You would have to get a JUMBO loan from a lender and as Michael said below you will need about 20 percent down.
0 votes Thank Flag Link Wed Dec 21, 2011
genreally 20%-25% down is needed.
Web Reference: http://kobicosta.com
0 votes Thank Flag Link Tue May 17, 2011
Loans up to $2M 80% LTV - 30 year fixed 5.500% APR 5.510% - 5/1 ARM 3.875% 3.433% APR which include lender compensation and loan processing.
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Mon May 16, 2011
Hi Shahla Shafii

I may assistance to get $2.5Ml. I have been working with some lender, who has many way to help you get the loan you want. If you contact me.

Thank you

Danny Tran
DRE: 01763825
1298 W. 7th St
Upland, Ca 91786
0 votes Thank Flag Link Sat May 14, 2011

The lenders I work with will require at least 20% down on a purchase this large. If I can be of assistance, please let me know.

Michael Abram
First Capital Mortgage
NMLS #235060
Direct: (310) 434-1718
0 votes Thank Flag Link Sat May 14, 2011
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