Where can I find a super jumbo loan in CA with 90% LTV?

Asked by Bob, Laguna Niguel, CA Fri Mar 29, 2013

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20
lendersnetwo…, Agent, Plano, TX
Tue Oct 22, 2013
I work with a few mortgage brokers that offer super Jumbo loans with 10% down. Email me or visit our site I will get you to the right lender.
4 votes
jeff12345, Home Buyer, 90210
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.
2 votes
Thank you Jeff.
Flag Thu Oct 31, 2013
, ,
Fri Mar 29, 2013
Bib,

If you cannot find a a private-party individual (from a seller carry back or other private money source) or a banking institution to do the 10 % subordinate 2nd behind our 80% first....We do have a second lender that will go in second postion for 5% max (85% Combined loan-to-value)

Purchase price $1,111,000
First Loan $ 888,850 (80%)
2nd Loan $ 55,500 ( 5%)

Down Payment $ 166,650 (15%)


Feel free to call for more details.

Cheers
2 votes
, ,
Fri Mar 29, 2013
I ma sorry let me re-phrase that (with 1 Mil representing 90% of 1.11 Mil)

We can do the first to 889K representing 80% of the puchase price with a 740 middle credit score on an Owner Occupied Single Family Residence, and will authorize a subordinate 2nd (111K) behind our first from a private-party individual (such a seller or others) or a banking institution (Regardless of whether the lender of the subordinate lien is a private-party individual or an institution, a copy of the note is required to ensure that our parameters for Subordinate Financing are met).

We close in less than 30 days.

Feel free to contact me.
2 votes
Our timing is 1st of the year, look for homes, make offer and close in the May 2014 time frame. I'm just exploring now. You scenario is about right. I'll have $110K Cash ~ maybe more and want to finance remaining ~$1M.
Flag Fri Mar 29, 2013
Isaiah Y., Agent, Rockford, IL
Fri Jan 13, 2017
Try contacting Home Loans For All. They have many lenders they work with. I'm sure they have a few that can do a loan like that in CA.

Hope that helps!
1 vote
, ,
Sun Jan 11, 2015
I have a program but you need a 721 middle score
1 vote
, ,
Thu Oct 31, 2013
90% Jumbo up to 750K loan amount
85% Jumbo for anything 750K - 1.275 Million
1 vote
Hi

we have come across another opportunity and could snag it before it hits the market if we move fast.

2 bed 1 bath x 2 Duplex in Sausalito 94965 with views

Purchase price $900/950 K
Value after modernization $1.1/1.3 mil
Rent Top $3500
Bottom $3000

We would live in one.

We could raise about 110-120K.

Do you think we can finance it?

Neil
415 937 4091
Flag Tue Jan 12, 2016
Hi Tom.

we have come across another opportunity and could snag it before it hits the market if we move fast.

2 bed 1 bath x 2 Duplex in Sausalito 94965 with views

Purchase price $900/950 K
Value after modernization $1.1/1.3 mil
Rent Top $3500
Bottom $3000

We would live in one.

We could raise about 110-120K.

Do you think we can finance it?

Neil
415 937 4091
Flag Tue Jan 12, 2016
Jacob Varghe…, , San Jose, CA
Fri Mar 29, 2013
I have a lender who will go 90% with FICO of 720. Is your FICO 700 or not sure?

How much is the DTI? Are you W2 or 1099?

I will have to run the case with the Lender to confirm and that it can now be done on Monday only.

Thanks
Jacob
NMLS 327086
1 vote
, ,
Fri Mar 29, 2013
We can do the first to 800K with a 740 middle credit score on an Owner Occupied Single Family Residence, and will authorize a subordinate 2nd (100K) behind our first from a private-party individual (such a seller or others) or a banking institution (Regardless of whether the lender of the subordinate lien is a private-party individual or an institution, a copy of the note is required to ensure that our parameters for Subordinate Financing are met).

We close in less than 30 days.

Feel free to contact me.
1 vote
Bob, Renter, Laguna Niguel, CA
Fri Mar 29, 2013
I"m Looking for $1M on a SFR, Purchase, owner occupied. Score 700+
1 vote
Angel Oak or citadel will do 90%10down 680 fica nationwide and they allow gift loan
Flag Mon Mar 13, 2017
, ,
Fri Mar 29, 2013
How much do you need?
Is this an Owner Occupied, Single Family Residence?
Purchase or Refi?
Credit Score
1 vote
Craig Bosse, Agent, Walnut Creek, CA
Tue Aug 15, 2017
We can do Super Jumbos up to $3mil loan amount with 10% down , a minimum 660 mid FICO, 9 months reserves , and up to 50% DTI ratio
Web Reference:  http://www.craigbosse.com
0 votes
jumboloancen…, Other Pro, Lake City, FL
Tue Aug 15, 2017
Each lender can define super jumbo a little different. But we do have 95% jumbo options up to 1.5mil loan amounts. Also 10% down up to 2.5mil. Credit above 700 is needed for all programs.
0 votes
, ,
Fri Jan 13, 2017
Hello, you may consider 5% down Jumbo with a minimum 720 fico score from 417k up to 1.5 million and 10% down from a minimum 680 fico score and up to 2.5 million. You will need 20% down to purchase over 2.5 million.

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve any agent can email listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran and VA or CalVet Loan Specialist
REO and Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
0 votes
Five Stars, Other Pro, Jacksonville, FL
Thu Jan 12, 2017
Depends on your loan amount. There are options with 10% down that go above 2mm loan amounts. Credit (720) and reserves need to be pretty strong when over 1mm. Learn more at the reference link below.
0 votes
jumbosource, Other Pro, Valdosta, FL
Tue Sep 20, 2016
Depending on your loan amount and credit - you can do up to 95% to 1 mil loan amounts. Or 90% LTV up to 2 mil. 700 credit required, must be a primary residence.

See the web reference link below for more info.
0 votes
jumbosource, Other Pro, Valdosta, FL
Wed Jun 15, 2016
For primary homes - you can do 95% up to 1mil. Or 90% up to 2 million. Full income and asset documentation needed. 700 credit.

Thank you,
Jumbo Mortgage Source
0 votes
Asdasdasdjk, Home Buyer, Laguna Niguel, CA
Fri Jun 10, 2016
May options are offered in California
0 votes
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Sat Feb 27, 2016
Bob,

This is a niche that we know very well. We can permit a 10% down payment a number of ways on a super jumbo scenario:

80/10/10 or "Piggyback": These will permit a purchase price of $1.67MM. Terms are comparable to what a 20% down payment buyer would expect and this is the most common way to structure a mortgage for this price point.

Single loan with no PMI: These will permit a purchase price of $2.22MM. This program is gaining traction as of early 2016 and will likely become a bigger share of the 10% down pie as the pricing gets more competitive.

Single loan with no PMI to 85% of value: These will go to a price point of $3.5MM. Same concept as for 90% --- no PMI.

Let me know if any questions on any approach. There are pros and cons to each and which is determined to be the best fit is highly individual.

Thank you.
0 votes
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Sun Jan 10, 2016
This is exactly the kind of scenario in which I specialize, and we can offer this throughout CA. As of January, 2016, we are able to get to a purchase price of $1.7MM with as little as 10% down. This can be accomplished with an "80-10-10" structure, also known as a piggyback loan. We also have access to the REX Homebuyer program, which will allow a buyer to get up to a purchase price of $2.5MM with 10% down, though there are some additional restrictions on this program.

We can get to a purchase price of $3MM with as little as 15% down, and this is done with a single loan that has no PMI. For all scenarios above, I am implying that the rates and terms are consistent with best market rates and not some type of loan program that comes with excessive costs or higher-than-market rates.

Get in touch with any questions any time and feel free to check my references online (Yelp, etc.) and here on Trulia.
0 votes
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