Houston market - jumbo loan with less than 20% down? Home in range of $500-550K with 10% down .... how structure, interest rate?

Asked by Lookinghouston, Houston, TX Fri Dec 2, 2011

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6
, ,
Fri Dec 2, 2011
Hmmm.... there he is now...
1 vote
, ,
Fri Dec 2, 2011
If the credit is stellar.....

$417K in first lien position(conforming loan and conforming rates) and the rest in second lien position(a little higher rate). The "blended rate" will likely be better that a jumbo loan rate.

Everyone is different..... And this is for to notch credit....
But on deals like this.... You really need to apply and let your loan officer run the numbers and see if you can get the second lien.

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
1 vote
, ,
Fri Dec 2, 2011
You can do 80/10/10 combo loans in Texas, which on a $500k sales price would be a 1st mortgage at $400k and a 2nd mortgage for $50k. Or on a $550k sales price you'd be at a $417k 1st mortgage (the conforming loan limit) + a $78k 2nd mortgage. I don't do 80/10/10 combo loans in Texas but a good loan officer friend of mine who is in Dallas does if you would like a referral.
1 vote
Ora Cavazos, Agent, Cinco Ranch, TX
Fri Dec 2, 2011
Hello: I can help you with a home anywhere in the Houston area as well as surrounding Sugar Land, Katy Cinco Ranch in the Ft Bend area. As a realtor/broker for over 20 years, I have knowledge of the market place;
whether it is a resale or a new builder's home; Also have financial background in loans.

Where are you located now? Do you have a home to sell before buying?
Please let me know by return email at oracavazos@realtor.com
0 votes
Carolyn Wolfe, Agent, Houston, TX
Fri Dec 2, 2011
I have a super loan office in Houston that really knows his stuff, send me an e-mail and I will get you in touch with him. Also, check out my website and let me help you find the perfect house.....
0 votes
, ,
Fri Dec 2, 2011
Bwaaaa.....

We answered at the same time!!!

Too funny!!
Thanks Shane!!



Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
0 votes
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