Posted February 6th, 2014 in Mortgage Loan Insights
Low down payments on super jumbo California loans are our specialty.
For practicing MD / Dentist / CPA / Attorneys we offer super jumbo loans in California with as little as 5% down with no mortgage insurance required, no reserves, 700 mid-FICO qualifying scores and a choice of 5/1, 7/1 ARM or 30 and 15-year fixed options. This program can provide up to 80% financing on loan amounts up to $4.0 million dollars!
For everyone else, we offer 10% down super jumbo loans to allow you to purchase property up to $1,375,000, or 15% down to purchase or refinance property valued at up to $2.0 million dollars.
Our super jumbo loans with low down payment / equity are available as “80-10-10” combo loan structures, with a 1st loan that can be a 5/1, 7/1, 10/1 ARM or 30 / 15-year fixed. Our concurrent 2nd loan options are available in both Home Equity Credit Lines (with interest-only payments) or a 15-year fixed-rate program.
For those with a bit more cash / equity, we offer leveraged single-loan programs with lower down payments:
- 20% down to $2.0 million
- 25% down to $3.0 million (20% down with seller / private 2nd)
- 30% down to $5.0 million (20% down with seller / private 2nd)
INTEREST-ONLY SUPER JUMBO LOANS
The new “Qualified Mortgage” standards implemented after January 10, 2014 have resulted in many jumbo mortgage banks dropping Interest-Only jumbo loans from their product lines. We continue to offer Interest-Only super jumbo loans in 5/1, 7/1, and 10/1 ARMs, up to $10.0 million dollars.
See my Super Jumbo Loans page for more information on these unique loan programs. Call 1-800-644-8829 or inquire online.
Posted November 21st, 2011 in Real Estate Insights
What is the one facet of luxury real estate sales that’s the most undervalued in today’s market?
Want to improve your odds of selling your luxury home in California sooner, and for top dollar? Whether you are a high-end Realtor or a property owner, read on…. Read more »
Posted October 4th, 2011 in Mortgage Loan Insights
December 9, 2013
The Federal loan limits that define “conforming” and “non-conforming” loans (by county) can be confusing for homeowners, but these limits are relevant and important for consumers to know, since the distinction between what constitutes a “conforming” loan versus a “non-conforming” is what ultimately distinguishes a “conventional” loan from a “SUPER JUMBO” loan. Read more »
Posted August 1st, 2011 in Mortgage Loan Insights
This question of how long one must wait to qualify to buy a home after a bankruptcy, short sale, deed-in-lieu, or foreclosure is one many California homeowners are asking now.
As of August 1, 2011, here are the general guidelines
that FHA, Fannie Mae, Freddie Mac, VA, and USDA provide for these derogatory credit events.
Read more »
Posted September 23rd, 2010 in Mortgage Loan Insights
While many multi-family property owners know us for our traditional CA apartment loans, we specialize in low-rate hard money apartment lending as well. In fact, private money apartment loans make up a large part of our fundings today, since commercial banks are less than willing to loan on apartments that fail to meet certain minimum debt-service coverage, vacancy, location, owner credit, and other standards. Read more »
Posted October 19th, 2009 in General
My good friend and respected business consultant and educator Chris Banescu has published an elightening article The Assault on American Business.
Chris’s in-depth article examines the five greatest threats to American business and the utterly terrifying consequences to our economy as a result of current government policy and proposed legislation.
Chris has a comprehensive blogsite chock full of useful and insightful information for those interested in the politics of our day, particularly as it relates to what I call the cramdown of US business and our personal freedoms in today’s times.
Posted October 13th, 2009 in Mortgage Loan Insights
Governor Arnold Schwarzenegger approved seven new laws on October 11th that provide a range of new so-called consumer protections to home mortgage holders in a last-minute scamper session.
Absolutely NOTHING in the new legislation will help homeowners currently facing foreclosure, which was what the Democrat-sponsored bills were supposed to alleviate.
Read more »
Posted July 2nd, 2009 in Mortgage Loan Insights
If you’re new to “hard money” loans — also known as “private money financing”, this article should help clarify what privately funded equity-based lending is about. Hard money financing has changed a bit in 2013, with many lenders moving toward more conventional underwriting guidelines, rates, and fees found in the old days of “sub-prime” loans, albeit with specific provisions for owner-primary properties under the Dodd-Frank Act. Nowadays, hard money loans do not need to be unreasonably expensive IF the right combination of factors exist. Read more »