Looking to purchase our first home in the Nashua area for around 600K. We have 10%. Are there any jumbo mortgages/products out there for 10% down?

Asked by Elmc0319, 03060 Sun Oct 14, 2012

Another option we have is to get the remaining 10% from our family but we were told that jumbo mortgages have different guidelines for gifts. We have excellent credit ~780 and are first time homebuyers. We already got pre-approved for the FHA at 417K but that doesn't give us many options in the Nashua area. Any advice would be appreciated!

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Scott Godzyk, Agent, Manchester, NH
Mon Oct 15, 2012
There are Jumbo mortgages available. There are several loan officers to choose from, however you should choose one that is local and trusted that will provide you with service after the application. In addition to obtaining a mortgage using a buyer broker is always suggested. Here in NH it is ordinary to be able to hire a buyer broker often at no additional cost to you as they get paid a fee offered by the listing agent in MLS. If you would like some help in buying please contact me, I can guide you through the buying process as well as refer you to a loan officer who provides top notch service.
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Tim Joyce, Agent, Nashua, NH
Mon Oct 15, 2012
Good Morning - there are many alternatives for you and great loan officers - Larry Winefield from Regency Mtg, Jeff Johnson from RMS, Ed Johnson from Wells Fargo. The price range you are looking at is a buyer's market while the lower price range is not. Perhaps you can find something in the conforming mortgage and not go to the "jumbo". I just closed on a home in the Tanglewood neighborhood and have 2 listed there now in the higher price ranges as well as The Flume in Amherst.
Let me know if you need any assistance in your housing search - if you are looking for housing trends check out http://www.greaternashuahomevalue.com

Tim Joyce
Keller Williams Realty
20 Trafalgar Sq. Suite 101
"The Glass Tower"
Nashua, NH 03063
Cell: 603-765-3761
Office: 603-821-1120
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Thomas Beauc…, Agent, Bedford, NH
Sun Oct 14, 2012
Being first time home buyer's, it would be wise to think about not just the home purchase but how you'll furnish it as well. Many people get caught up in the excitement of purchasing a new home they don't think about what happens after the purchase.

I recommend Tammy Poitras at Merrimack Mortgage 603-472-3900, she takes the time to listen to your plans and wishes and can recommend what would work out best for you and your finances.

I'd be happy to help you in your search as well for your first home, if you need assistance or would like answers to other real estate questions you might have with no obligation, feel free to contact me, joemccarthy@nhsynergy.com, 603-488-6272

Best regards!
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June Proko, Agent, Nashua, NH
Sun Oct 14, 2012
Yes, there are Jumbo mortgages. I would recommend Bob Ricard @ Regency Mortgage in Nashua.
I've been a realtor for 36 yrs. and in addition I was a Mortgage Broker and worked with Bob for 5 years. I recommend him very highly. C-345-3240 O-206-6426

June Proko
The Masiello Group
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Isabela Benn…, Agent, Bedford, NH
Sun Oct 14, 2012
I recommend Marcia Robinson from RMS. Her number is 603-546-6453. She is very experienced and Nashua is her area. If you need a Realtor I would love to help you find your dream home!

Direct: 603-821-1194
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Bill Burke, Agent, Salem, NH
Sun Oct 14, 2012
Call Larraine Lencki she had great plans and rates. 603-867-8388 and she is working today.
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Sun Oct 14, 2012
I recommend Dave Stoddard - he's at the Nashua/Milford office at St Marys Bank. His number is 603-629-1535 or toll free 1.888.705.9596 St. Marys may have a private portfolio program that would meet your needs.

Good Luck!

Sandy Johnson
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