Maximum Leverage — Our Specialty
A "Super Jumbo" loan is any loan greater than the Fannie Mae / Freddie Mac conforming jumbo loan limit by county. "High Cost" counties in California have Fannie Mae limits of $625,500, and FHA jumbo loans can accomodate financing up to $729,750 in those same "high cost" areas. We specialize in loans that exceed these amounts.
Our super jumbo loan products are well suited for those seeking a lower down payment, or who have less equity to refinance a current super jumbo loan. We offer Jumbo and Super Jumbo loan programs from 5% to 20% down for new purchases as described below, and 10%-25% equity margins for refinance loans. Occupancy, credit scores, profession, loan amount, and other considerations apply to every transaction. Call for more information on any program below. Please take a moment to review the following options before inquiring.
5% DOWN JUMBO / SUPER JUMBO LOAN PROGRAMS
We offer TWO jumbo loan options with 5% down payment for home purchase financing:
FHA Jumbo Loans -- 3.50% down payment with mortgage insurance, loans up to $729,750, minimum FICO score of 640. We are a direct FHA lender and offer fast turnaround time on purchases and low FHA jumbo loan rates.
Preferred Professionals Program -- 5% down payment up to $1.0 million loan amount if you are a practicing MD, Dentist, Attorney, or CPA in California. This is a unique offering for these professions. One loan, no monthly mortgage insurance, no reserves, and credit scores as low as 700.
- Preferred Professionals Program -- available ONLY to practicing MD, Dentist, Attorney, or CPA in California.
-- 5% down to $1.0 Million max loan amount (sale price of $1,052,630) — purchases only
-- Full income doc qualifying
-- see 10% and 15% down options below for larger jumbo purchase price / loan amounts, or refinance transactions
-- NO condos or townhomes under this program
-- Call or email for more info on this jumbo loan offering. 800-644-8829.
10% DOWN JUMBO / SUPER JUMBO OPTIONS PURCHASE LOANS
FOUR super jumbo loan options with 10% down payment are available depending on the selling price of the property and other considerations:
1) For a selling price / value up to $833,500, our "80-10-10 Junior" jumbo loan combines a 1st and 2nd mortgage at 10% down up to a maximum of $750,000 in financing.
2) For selling prices up to $973,000 in select California Counties, we offer "The 90 Percenter". This program finances super jumbo loan amounts up to $875,500 with ONE loan, based on the Fannie Mae loan limit by county, plus $250,000 for the total loan amount possible withh this program.
3) For selling prices up to $1,375,000, financing of a 1st loan up to $1,100,000 is available, with Seller OR third-party financing of a 2nd mortgage for 10% of the price, plus your down payment being 10%. This is our "80-10-10 Senior" jumbo loan program. This option allows both the 1st and 2nd loans to be "interest-only" payment terms.
4) If the selling price of the property is $1,417,000, our Preferred Professionals Program for practicing MD, Dentist, Attorney, and CPA professions allows 10% down up to a maximum loan amount of $1,250,000. One loan, no monthly mortgage insurance, no reserves required, and a 700 minimum FICO. No condos or townhomes, however. 1-unit SFR property only, and this is a full income doc loan.
10% DOWN SUPER JUMBO LOAN DESCRIPTIONS
- "The 90" -- This is one loan at 10% down up to a maximum $875,500 loan amount (sales price of $973,000). The maximum loan amount is based on the Fannie Mae Loan Limit by California county, plus $250,000. Available as a 5/1, 7/1, or 10/1 ARM loan with mortgage insurance. A minimum 720 FICO score and specific debt ratio and reserves are required to qualify. Available on 1-unit single family homes, condos, and townhomes. NO multi-units, second homes or investment property.
- "80-10-10 SENIOR" — This is a 1st and 2nd loan combination that allows a financed amount up to $1,237,500 (sales price of $1,375,000). We provide ONLY the 1st loan up to $1,100,000 and the SELLER or a PRIVATE PARTY finances a carryback 2nd mortgage for 10% of the price, and you put 10% cash down payment for a total of 90% financing. The 1st loan is a 5/1, 7/1, or 10/1 ARM program and can be either amortized with principal and interest payments over a 30 year repayment schedule OR Interest-Only payments. A 30-year fixed 1st loan is also available. The private 2nd loan must meet specific guidelines to qualify.
Call for more info — 800-644-8829.
- Preferred Professionals Program — available ONLY to practicing MD, Dentist, Attorney, or CPA. 10% down on purchases to a max loan amount of $1.25 million ($1,388,890 sale price). Primary residence only, no condos / townhomes. One loan, no mortgage insurance required.
11% DOWN JUMBO / SUPER JUMBO PURCHASE / REFINANCE LOAN
This is an alternative to our 10% and 15% down / equity jumbo loan programs, but is costly. The best reason for electing this loan product over our other programs would be to retain just one loan versus a 1st and 2nd mortgage combination. Otherwise, our combo 10% and 15% down jumbo loan products are a cheaper overall alternative for leveraged super jumbo financing.
First-Time Home Buyers / those who have not owned a home within 36 months of application are not eligible for this program. Properties located in the cities of Salinas, Fresno, Stockton, Modesto, San Bernardino, Riverside, and Ontario are also not eligible.
11% DOWN SUPER JUMBO LOAN DESCRIPTIONS
- "The 89-er" — As a purchase money loan, this product requires only 11% down payment for property sold / valued up to $1,404,490. Max loan amount is $1.25 million and is a one-loan option available as a 5/1, 7/1, or 10/1 amortized ARM product for primary and second home (1-unit) residences. This product is also available for rate / term refinance loans, including consolidation of a 1st and 2nd mortgage, provided there have been no advances on the 2nd loan for 24 months or more. Certain conditions and restrictions apply. This program involves additional costs compared to our 10% and 15% down programs, but is a useful resource for someone "in the middle" of those two options. Call 1-800-644-8829 for more information.
15% DOWN JUMBO / SUPER JUMBO PURCHASE / REFINANCE LOANS
These programs are popular for super jumbo loan amounts in the $890,000 - $1,700,000 range. Our "Preferred Professionals Program" accomodates this with one loan, and for all others, we provide both the 1st and 2nd loans to minimize down payment on a purchase, or maximize LTV leverage for super jumbo refinance loans.
- "80-5-15 SENIOR" — NEW! A 1st and 2nd combination loan that provides 85% financing up to $1,700,000 in loan amount ($2.0 million selling price / value). We provide both the 1st and 2nd loans. No other lender offers this much leverage at this dollar amount, period. A minimum 740 mid-credit score is required as well as sufficient housing payment reserves. The 1st loan is available as a 30-year fixed, or 5/1, 7/1, or 10/1 ARM with amortized 30-year payments. The 2nd loan is a variable-rate home equity line of credit with interest-only payments for 10 years. Certain conditions and restrictions apply to this exclusive offering. Call 800-644-8829 for more information.
- "80-5-15 JUNIOR" — Combined loan amounts up to $1,275,000 with a 1st and 2nd loan combination. Purchase or refinance a home valued at $1,500,000 with 15% down with this option. We provide both the 1st and 2nd loans up to 84.99% total financing and $1,275,000 in combined loans. 30-year 1st loans are limited to the Fannie Mae amount per-county, but our 5/1, 7/1, and 10/1 ARM and 30-year fixed jumbo 1st loans can go up to $1,200,000 with the remaining balance on the 2nd. The 2nd loan is a variable-rate HELOC with interest-only payments for 10 years (interest-only not available on the 1st loan with this option). A minimum 720 - 740 FICO score is required for this program depending on the 1st loan amount. This option is available for purchase, rate/term refinancing, and cash-out refinancing for maximum leverage for loans in this jumbo loan range.
- Preferred Professionals Program — available ONLY to practicing MD, Dentist, Attorney, or CPA. 15% down on purchases to a max loan amount of $1.50 million ($1,764,705 sale price). Primary residence only, no condos / townhomes. One loan, no mortgage insurance required.
- "The 85-er" — This is the same jumbo loan program as the "89-er" above. As a purchase money loan, this product requires 15% down payment / equity valued up to $1,404,490. Max loan amount is $1.25 million and is a one-loan option available as a 5/1, 7/1, or 10/1 amortized ARM product for primary and second home (1-unit) residences. This product is also available for rate / term refinance loans, including consolidation of a 1st and 2nd mortgage, provided there have been no advances on the 2nd loan for 24 months or more. Certain conditions and restrictions apply. This program involves additional costs compared to our 10% and 15% down programs, but is a useful resource for someone wanting a "one-loan" option. Call 1-800-644-8829 for more information.
HIGH-LTV JUMBO and SUPER JUMBO PURCHASE / REFINANCE 1-LOAN PROGRAMS
When you want just one super jumbo loan with lower down payment, call us! No one matches our loan-to-value for super jumbo loans.
- 20% down $500,000 - $1.0M -- Fixed and ARMs
- 20% down $1.0M - $1.50M -- Fixed and ARMs
- 20% down $1.51M - $2.0M - ARM only
- 25% down $2.01M - $3.0M - ARM only (or 20% with 2nd)
- 30% down $3.01M - $5.0M -- ARM only (or 20% with 2nd)
- 35% down $5.01M - $10,0M -- ARM only (or 25% with 2nd)
Interest-Only ARM Loans, Lowest Rates
Our direct lending offers THE lowest rates on Interest-Only ARM loans in 5, 7, and 10-year fixed terms. These rates require a minimum 740+ credit score, maximum 70% loan-to-value, primary 1-2 unit residence, and 24 months reserves verified to qualify. OTHER interest-only programs are available with lower FICO and reserves. If you have excellent credit, assets, and equity and are interested in the lowest Interest-Only ARM rates available in California, please call or inquire online. For those with less-than-ideal credentials, we can still offer very competitive rates on super jumbo interest-only loans. Call or inquire with us — our rates and programs are well-suited for nearly all credit situations.
Important Note on Interest-Only Jumbo Loans
Interest-Only loans do NOT qualify at the Interest-Only payment. All lenders use some method for reducing risk on interest-only mortgages, whether it is lower loan-to-value, higher credit and lower debt-income ratio requirements, increased reserves, and / or a "payment shock" adjustment (loan qualifies at a higher-than-note rate to offset for future adjustments to an ARM).
Interest-Only loans carry the benefit of reduced payments for an interim period of time between 5 and 10 years compared to amortizing loans of similar duration. While convenient, Interest-Only loans carry an inherent risk of unaffordable payments at ome point in the future. You should be able to comfortably afford to make fully amortized payments of principal, interest, taxes, and insurance before considering an Interest-Only loan. In other words, Interest-Only shouldn't be an option for making a loan affordable that would not be if you paid amortized payments.
We are both a direct lender and broker of super jumbo loans in California, and we specialize in super jumbo loan financing.
Other Jumbo Loan Features
(loan features are not cumulative)
- Interest-only Option Payments -- manage your monthly cash flow with the option of paying interest-only or fully amortized installments on several of our products. We offer 3/1, 5/1, 7/1, and 10/1 ARMs with interest-only payments available throughout, and a free ARM-to-Fixed conversion option at the end of the initial interest-only term.
- Stated Income Jumbo / Super Jumbo Loans (2013) -- We offer "stated income" loans with reduced documentation for well-qualified borrowers that have substantial equity (40% or more) in a 1-unit primary residence with a choice of 15 or 30-year fixed terms from $420,000 - $1 Million.
Restrictions and conditions apply. Call 1-800-644-8829 for more information.
- Investment property financing with Interest-only! This is a unique product -- very few lenders offer interest-only option payments on investment property, but we do. Maximize monthly rental income cash-flow and enjoy 5 - 15 year fixed rates during the interest-only term, with a free ARM-to-Fixed conversion option available.
- Free ARM to Fixed Loan Conversion Option -- our super jumbo, interest-only 40-year ARMs can be converted at the end of their initial fixed-rate, interest-only term to a long-term, fixed rate for the remaining term of the note. There's no cost, no appraisal, and no re-qualifying required!
- Property Title vested in a Trust, LLC, Corp, LP, LLP -- all are acceptable. You do not need to hold title in your personal name.No minimum FICO score requirement - you can have less than ideal scores, but no recent derogatory credit for conventional bank options.
- No limit on number of financed properties -- if the subject property is your primary residence.
- Asset Depletion and Pledged Asset programs -- for those with cash liquidity issues, we can utilize market assets and publicly traded stock to create down payment and reserve funds necessary to qualify, coupled with very competitive jumbo loan terms. Available only on loan ounts over $750,000.
- Hard Money jumbo loans. We have hard money financing for specific situations that just miss bank guidelines for high-end real estate in desireable California markets -- up to 80% LTV. This type of loan is best utilized as temporary (gap) financing rather than a long-term solution due to the inherently higher interest rates. Conditions and restrictions apply depending on occupancy factor per Federal and CA-specific lending laws. Call for info.
- Jumbo Loans to VISA Holders ("ex-patriats") and Foreign National Home Owners
VISA holders: Up to 80% loan-to-Value financing to $1.50M
FOREIGN NATIONALS: 60% loan-to-value up to $2.0M, 55% to $3.0M, or hard money lending. Call 800-644-8829 for more information on our VISA and Foreign National jumbo loan programs.