Are there any brokers or lenders with 80-10-10 programs (up to 2M home value) in the Los Angeles area?

Asked by GBnew, Los Angeles, CA Mon Nov 4, 2013

We're looking for pre-approval to buy a primary residence up to $2,000,000 and would like to put down only 10 percent (to preserve cash for renovating). FICOs 780 . Are these loans currently available in the LA area?

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Randall Yates, Other Pro, Dallas, TX
Tue Nov 12, 2013
Yes, I have a mortgage broker who does jumbo loans with lower scores than you have with just 10% down. Email me or visit our site if you would like me to refer you to a broker or two that can this done.
1 vote
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Thu Feb 13, 2014

With NO Mortgage Insurance, and NO Equity Sharing program, and with a minimum 740 credit score we can do the following;

Purchase 2 million
Down payment 300k (of which 100K needs to be your own funds the other 200K can be gifted)
1st loan 1.5 million (can be a 30 year fixed program or 5,7, or 10 year ARM program)
2nd loan 200K (Home Equity Loan)

Post Closing Reserve requirement = 6 month worth of housing expenses
we can use us 70% of the account/face value, for STOCKS, BONDS AND MUTUAL FUNDS accounts and 60% of Retirement accounts

Reduction of .250 in rate

Feel free to call or email for more details.


Thierry Abel
Senior Loan Consultant
By Referral Only
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
NMLS 304353 - BRE 01380701
0 votes
Brian Nguyen, Mortgage Broker Or Lender, Mission Viejo, CA
Thu Feb 13, 2014
Yes, that is possible! If you would like more information on this and how this can be done, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887
0 votes
brooks.fncss, , 79712
Tue Nov 12, 2013
We finance all types of loan programs at a simplified interest rate of 4%. Please contact us today for your requested loan amount.

Email #:
Tel #: (724) 318-5092

{Only serious inquiries}
0 votes
Robert Spino…, Mortgage Broker Or Lender, Mill Valley, CA
Thu Nov 7, 2013

We can finance this scenario, but the structure will vary a bit. You'd need to do this:

$1,500,000 First mortgage (75% LTV)
$250,000 Equity share second "mortgage" (12.5%)
$250,000 Down payment (12.5%)

The equity share second has no payments or qualifying criteria and works a bit differenty than a traditional second mortgage, so get in touch if you'd like more detail. The property must also meet certain requirements. But this alternative may be a great option for getting to that price point with less than 20% down and we're one of the few lenders to offer it.

Rob Spinosa
0 votes
Elva Wormley, Mortgage Broker Or Lender, San Jose, CA
Mon Nov 4, 2013
Hi GBnew,

85% CLTV would be the maximum. I've only seen 90% CLTV on combined liens not greater than $750,000.

Best regards,

Elva A. Wormley
Mortgage Consultant
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / BRE #01274093
0 votes
Peter Reyes, Agent, Los Angeles, CA
Mon Nov 4, 2013
Yes there are...there are different circumstances, pls call me Peter Reyes at Keller Williams 323: 356-2879 My in-house lender just went to an appointment but when we talk I will put you in contact with her. I am anxious to talk. Best, Peter
0 votes
Bayron Bliss, Agent, Bellflower, CA
Mon Nov 4, 2013
This is an awesome question!
0 votes
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Mon Nov 4, 2013
We could do 85% for combined loan amount of 1.7 million (you will be right at the limit)

First of 75% and 2nd of 10% for a combined 85%

Fee free to email me for more details.
0 votes
Thierry Abel, Mortgage Broker Or Lender, Corte Madera, CA
Mon Nov 4, 2013

That is going to be tough.

As long as 5%, for the down payment, are your own "funds", you could use a "gift" from a relative for the difference with letter from relative-donor stating: no repayment expected, and – Trail of gift funds from the donor (bank statements)

0 votes
Alexander Gr…, Agent, San Jose, CA
Mon Nov 4, 2013
The highest I have seen is up to 1.2 million and that is with only 85% LTV. Your best bet is to just do a jumbo with 75% LTV and have to pay the closing costs. Unless your agent or the buyer is coming up with some of them. Maybe even a 5/1 ARM to keep the interest rate sub 4%. Let me know if you have any more questions.

Alex Greer
Loan Officer
NMLS #1056079

0 votes
Mario Pinedo,…, Agent, Cupertino, CA
Mon Nov 4, 2013

That is a tough loan to find. There are some 1st lenders who will allow it but finding the 2nd lender is the rub. Above 1.5M, the best deals in the market at 80/5/15, with at 15% down payment and a combined 85% LTV from the same investor.

Give me a call and we can review your options.

Mario Pinedo, CCIM
Mortgage Banker
CS Financial
BRE Broker 01118365
NMLS 1029116
Office 424-249-7434
Cell 415-269-6249
Twitter @mariopinedo
Web Reference:  http://www.HomeLoans.LA
0 votes
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