Are there 90% jumbo loan programs available for Mt. Pleasant home purchase?

Asked by Happydoc, Charleston County, SC Fri Jul 8, 2011

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Alan Donald’s answer
Alan Donald, Agent, Mount Pleasant, SC
Sat Jul 9, 2011
Yes, but the LTV percentage may depend on your credit.
Try Reese Ward of Benchmark Mortgage reese.ward@benchmark.us (843) 478-0859. I believe SunTrust and Bank of America still offer the 100% doctor loan.
Happy loan hunting!

Alan Donald
Keller Williams Realty
(843) 864-3777
1 vote
Chris Havila…, Agent, Isle of Palms, SC
Sat Jul 9, 2011
Possibly. Lenders these days look at each individual loan and borrower to determine interest rate and loan to value (down payment) on a case by case basis. For example, a few lenders I've worked with have special rates and terms for doctors. Are you a doctor, Happydoc?
Feel free to give me a call, or email me directly, if you'd like to talk in more detail.
Chris Haviland
843-327-8986
chaviland@carolinaone.com
1 vote
jumboloancen…, Other Pro, Lake City, FL
Tue Jun 27, 2017
Options up to 95% for loan amounts below 1.5 mil. 90% options up to 2.5mil. Credit and qualifying requirements can be found at the web reference link below.
0 votes
, ,
Tue Feb 4, 2014
We offer90% JUMBO loans nationwide. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.



Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

bart@bartprequalifies.com

800 315 8803

NMLS 20743
0 votes
Dr S Jones MD, Both Buyer And Seller, Orlando, FL
Tue Feb 4, 2014
Hi Doc, Certainly - not only is 90% available but 100% as well.
If you are an MD, DO, DPM, Resident or Established Physician - the following bank rep will provide you with 0% (zero) down 100% loan and No MI with Preferred Client rate and standard costs.

Asst. Vice President / Sr. Mortgage Officer / Tom R. Callahan / thomas.callahan@53.com
Fifth Third Savings, at 904-591-6722

Offering 100% Lending within Alabama, Florida, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire. And New York with 5% down.

Mr. Callahan has been recognized nationally as a ranking leader within the mortgage industry and has assisted hundreds of Physicians.

Best wishes to you! Sarah Jones, MD
https://secure.53.com/mlo/thomascallahan
0 votes
Justin Gaski…, Agent, Charleston, SC
Wed Jan 8, 2014
Yes those are some strong rates and great advice! If you need help finding a home call me I'd be glad to help.

Justin Gaskill
Real Estate Professional
864-735-8612
http://www.justingaskill.com
0 votes
Stephanie Ar…, , Nashville, TN
Mon Jan 6, 2014
Hello,

I am a Doctor Loan Specialist with SunTrust Mortgage

Our Doctor Loan Program is a residential mortgage loan developed specifically for medical residents, interns, fellows, Doctors of Osteopathy (DO), and licensed medical physicians that have completed their residency within the last 10 years.

Our program offers:

• 100% up to $650K
• 95% up to $1M
• 89.9% up to $1.5M

Mortgage insurance is not required - Available for both home purchases and mortgage refinances - Competitive pricing - Both fixed rate and adjustable rates offered - No penalty for prepaying your loan - Gift funds or seller contributions may be used for closing costs

The program is offered in the following States: Alabama, Arkansas, Delaware, Florida, Georgia, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington, D.C. & West Virginia.


With unparalleled commitment to serving physicians’ needs, you can rely on me and my dedicated team of mortgage professionals to work with you every step of the way. I can’t wait to tell you more so call or email today!


Stephanie Arcelay
Asst. Vice President
SunTrust Mortgage, Inc.
615-484-6690 Direct
Email: Stephanie.Arcelay@suntrust.com
Web: https://www.suntrust.com/PeopleFinder/stephanie.arcelay
NMLSR# 897166
0 votes
Dr S Jones MD, Both Buyer And Seller, Orlando, FL
Mon Oct 14, 2013
100% Doctor Loans do exist - regardless of your medical tenure.

The Medical Center Director we spoke to recently at our Hospital provided the following as a contact:
If you are an MD, Resident or Established Physician - the following bank rep will provide you with 0% (zero) down 100% loan and No MI with Preferred Client rate and standard costs.

Asst. Vice President / Sr. Mortgage Officer / Tom R. Callahan / thomas.callahan@53.com
Fifth Third Savings
Lending within Alabama, Florida, Georgia, Tennessee, South Carolina, North Carolina, West Virginia, Kentucky, Missouri, Wisconsin, Michigan, Indiana, Ohio, Illinois, Pennsylvania, New Hampshire.

Mr. Callahan has apparently been recognized nationally as a ranking leader within the mortgage industry and has assisted hundreds of Physicians within Northwestern Memorial Hospital
and Univ of Chicago Medical Center in my home town.

Best wishes to you! Sarah Jones, MD

https://secure.53.com/mlo/thomascallahan
0 votes
Happydoc, Home Buyer, Charleston County, SC
Mon Jul 11, 2011
Thanks everybody-all great answers! I am a doc and it is a 2nd home. I just did a refi last year with a BOA guy (not my bank) but did not know about the "Doctor Loan" until these answers started coming in. So I have been in touch with my BOA guy and it looks like I can go that route.

BOA "Doctor Loan" program is basically up to 850k, 5% down, no PMI, up to 3% seller allowances, and 720 middle FICO score and 6 month PITI cash reserve requirement. And probably the usual 33%/38% debt to income ratio requirement, etc.

I understand First Federal and Suntrust may have similar programs as well.

Thanks for everybody's input and advice! This is a great resource website.
0 votes
Franne Schwa…, Agent, Mt Pleasant, SC
Mon Jul 11, 2011
Every answer you have been given is a good one. I would start thought with your own bank. Even if it's not local they may be anxious to help you. Next shop your loan. Though an interest rate may be the same the closing costs may be very different. Go line by line and evaluate the numbers.

You may need to be creative to get that 90% loan. For example you may need to lower your debt by paying off your car or credit cards. Is this a 2nd home? That calls for being very creative.

I'm happy to help!

Franne
0 votes
Cheryll Wood…, Agent, Mount Pleasant, SC
Sun Jul 10, 2011
Good morning!

This is a question that I get very often when buyers are considering a home purchase in Mount Pleasant and a number of other cities in the Charleston, SC area. Like many other questions to be answered, the answer is "it depends". I have a number of fantastic lenders that do a great job for my buyers and I would like to provide you. Visit my website, noted below, for all of their names and contact info.

Let me know if they are able to help and have a fantastic Sunday!

Best regards,

Cheryll

Cheryll Woods-Flowers
Keller Williams
843-442-2219
0 votes
Ron Thomas, Agent, Fresno, CA
Sat Jul 9, 2011
The best Loan guy I have come across is a guy named Shane Milne:
He answers a lot of these questions, so you can look for him on these pages. His picture looks a lot like Pierce Brosnan, (I kidded him about that).
I am really impressed with his knowledge and his answers, although we have never met, I would use him in a heartbeat.
his e-mail is: shane@thebesthomeloans.com
go for it!

Good luck and may God bless
0 votes
bill bladykas, Agent, Mount Pleasant, SC
Sat Jul 9, 2011
Try BB &T they offer 100% in under served area which believe it or not includes Daniel Island.
0 votes
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