Can you get a Jumbo loan with 10% down?

Asked by Katherine, Yorktown, VA Wed Aug 15, 2012

I am interested in purchasing a home for around $590,000 with 10% down. Are there any mortgage companies out there who do this? My husband and I have a great income to debt ratio and good credit but funds are tied up with rental properties out of state.

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Mark Edwards, Agent, Suffolk, VA
Wed Sep 26, 2012
Katherine,

I'd call Val Parnell with TowneBank for info on their JUMBO Loans. They are a local Bank and we've had great success with them. Her contact info is:

Val Parnell
TowneBank Mortgage - Your Hometown Mortgage Lender
Vice President
600 22nd St.
Virginia Beach, VA 23451
(757) 417-6478 Office
(757) 749-2181 Cell
(888) 637-1321 Toll Free

Good luck. You may consider looking at the Founders Pointe waterfront community and also take a look at The Riverfront at Harbour View. If you have questions, I'm happy to help.

Mark
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John R Beave…, Agent, Portsmouth, VA
Wed Aug 15, 2012
Hi Katherine: Depending on your credit and which lender you use it is possible to get a jumbo mortgage with only a 10% down payment. If you would like information on a qualified local lender, call me at 757-812-0399 and I can furnish the contact info on two very good professional that you can contact.

I also can assist you in finding the property you are looking for.

Hope to hear from you soon,

John
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