Any lenders doing 5% down on jumbo loans" in Arizona.?

Asked by Sullylynn, Scottsdale, AZ Sat Jan 16, 2010

I am having a hard time finding any lender who are doing 5% down on jumbo loans? Both my husband and I have credit scores in the 800s and have very little debit. Any info would be great.

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Patrick Thies, Agent, Anytown, IL
Sat Jan 16, 2010
Jumbo loans require more for the down payment than conventional loans do. Right now most conventional loans are looking for at least 10% down. With all that has happened in the housing market the restrictions, especially on jumbo loans, have been tightened.
1 vote
Lisa Katz, Agent, Scottsdale, AZ
Sat Jan 16, 2010
Sullylynn, The jumbo loan market has changed Substantially to say the least. Most lenders that are in the jumbo loan market require 30% to 40% down regardless of your credit. Now there are some private lenders that may require a little less. By private lenders, I mean the ones that hold on to the mortgage (note). Smaller banks or private investors. There are also some lenders depending on your profession (lawyers, doctors, dentists) that can have a higher loan to value ratio (instead of 80% they will go as high as 90%).
Also in some small cases, if your purchasing a home from a custom home builder or investor they may be able to carry the mortgage but you better know the purchase contract!
I don't have great news for you, but maybe a mortgage broker will respond to your question that will have additional information.
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1 vote
Francis.mari…, Home Buyer, Catonsville, MD
Tue May 3, 2016
Well, if you are looking for a lender with such interest rate, I will recommend Accord Savings, judging from a recent experience, my fiance and I just recently got a loan there at a 4.5% interest rate, and we are currently repaying and it was stress free. is contact in case you need more information.
0 votes
Five Stars, Other Pro, Jacksonville, FL
Tue Apr 19, 2016
Yes, with your credit score you should have no issue getting 95%. Current Jumbo mortgage loan-to-value limits and credit standards for 2016.

Up to 95% LTV to $1,000,000 with 700+ credit score. Only 5% down payment with no monthly PMI.
Up to 90% LTV to $1,500,000 with 720+ credit score
Up to 85% LTV to $2,000,000 with 720+ credit score

Let us know we can help.
Five Stars Mortgage
National Jumbo Loan Resource
7 days week - 9am-8pm
Ph: 800-871-2636
0 votes
Andy Brown, Mortgage Broker Or Lender, Carlsbad, CA
Mon May 11, 2015
We have 95% jumbo financing available up to $850k loan amount.
0 votes
Scott Mendez, , Phoenix, AZ
Mon Aug 1, 2011

I do offer loans up to 95% with no Mortgage insurance for Doctors, Attorney's, CPA's and Dentist for loan below $ 1 Million.

If you have any questions, please feel free to contact me.

Best of Luck,

Scott Mendez
BBVA Compass Bank
Mortgage Banking Officer
Mortgage Financial Services
5115 E. Baseline Rd.
Gilbert, AZ 85234
O) 480-893-5858
C) 480-203-6183
F) 866-734-4490
NMLS# 595263
0 votes
Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Mon Jan 18, 2010

If you find such a loan product as Bill describes below, where you can close both loans simultaneously for a Jumbo loan at a 95% combined-loan-to-value (CLTV), would you be so kind as to share the name of these banks that will do this loan here in Arizona with those of us who are finance professionals? I don't mean to sound cynical, but "that dog can't hunt" comes to mind.

I do conventional loans to 95% LTV, but only up to $417,000.

My thanks to you in advance,

Roswell Moore, CMPS
Certified Mortgage Planner
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0 votes
William Pola…, Mortgage Broker Or Lender, Suwanee, GA
Mon Jan 18, 2010
Find a bank that allows for a combined loan to value (CLTV) of 95% first. Then call all the credit unions and small community banks that will lend a second mortgage to 95%. You'll be splitting the loan with the first at less or equal to 80% and the second will be 15%, for example. Five percent from you. I do them here in GA, so it's out there. You'll also want to know how many points, if any, the first mortgage lender charges in points for the 95% CLTV. It's all about risk.
0 votes
Roswell Moore…, Mortgage Broker Or Lender, Scottsdale, AZ
Mon Jan 18, 2010
Hi Sullylynn,

We may be able to help you. We have loans, for homes in your price range, that exceed the 80% loan-to-value (LTV) limit that most banks place on their loans. Another huge plus is that there is no mortgage insurance, which is very nice.

As you know by your pending purchase, now is an excellent time to be buying a home in your price-range. The lending environment for Jumbo loans, however, is not as rich as it once was with lending guidelines becoming more stringent, requiring a bit of creative structuring in order to qualify clients for their loans.

That said, I work for a Mortgage Bank whose corporate headquarters is located here in Scottsdale, about a mile south of Paradise Valley. Feel free to call me directly or drop by if I may be of further service to you.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner

4800 N Scottsdale Rd, Suite 1000
Scottsdale, AZ 85251

480-422-5095 direct |
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0 votes
Tom Heath, Mortgage Broker Or Lender, Tucson, AZ
Sat Jan 16, 2010

I have a product requiring a 10% down payment, but is limited to a loan amount of 600k. For any Jumbo exceeding that amount, I am limited to programs with minimum 20% down. If you have any questions or would like to discuss these options more thoroughly, please contact me.

Have a great weekend.
0 votes
The Canto Te…, , Maricopa, AZ
Sat Jan 16, 2010
Sorry! The best we could do is 20% Down. The only other option is too see what bank may give you a 10% Second and you come with another 10% (80-10-10). There are still some banks doing 10% Second mortgages but will not do the first. One that I can think of is TCF Bank.
0 votes
Dan Gonen, Agent, Scottsdale, AZ
Sat Jan 16, 2010
If you are a doctor or a lawyer check with Compass. You should also check with Northern Trust. I got another guy I know who has an interesting program for Jumbo loans... Call me if u need more help.

Dan Gonen
RE/MAX Excalibur
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0 votes
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