Low Down Payment Super Jumbo Loans
* 10% down super-jumbo loans up to $2.50 million
* Special programs for practicing MD / Dentist / CPA / Attorneys
* "80-10-10" and other ratios for combo 1st and 2nd loans
* 15% down super jumbo loans with NO mortgage insurance and NO 2nd mortgage needed!
A "Super Jumbo" loan is any loan greater than the Fannie Mae
conforming or high-cost loan limit (by county). "High Cost" counties in California currently cap at $625,500 or less, depending on the county. We specialize in low down-payment super jumbo loans that exceed Fannie Mae / FHA loan limits across California.
Our 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. Call or inquire online for more information on any program below.
"STANDARD" SUPER JUMBO LOAN PROGRAMS
We offer California home buyers down payments on luxury homes as low as:
- 10% down on home purchase and rate/term refinances ranging from $500,000 to $1.89 million (10% down over $1.50 million - $2.50 million loan is our "Iridium" loan program below); ARM or fixed-rate terms, amortized AND interest-only jumbo loans available. We offer 5 different jumbo loan options for 10% down depending on credit scores, qualified reserves, and other qualifying criteria.
- 15% down on home loan amounts up to $1.50 million with more flexible FICO credit and reserve requirements. No mortgage insurance.
- 20% down on home purchases up to $3.0 million; ARM or fixed-rate terms, amortized AND interest-only jumbo loans available
"Iridium" One-Loan Super Jumbo Financing
Unique financing for very high-income and high-asset borrowers with superior credit, asset reserves, and select qualifications.
- 90% financing from $1.75 million to $2.50 million
Available for purchase and refinance, including cash-out. Also available in amortized ARM / Fixed loan terms. Certain conditions and restrictions apply. Transactions require extended closing / contingency timelines.
MEDICAL DOCTORS (MD), OPTHALMOLOGIST, DENTISTS, ATTORNEYS and CPAs
We offer a unique super jumbo purchase loan program starting at $500,000 for licensed and practicing MD, Dentist, Attorney, and CPAs in California. "Practicing" means you are engaged with the general public as a practicioner as your primary income.
"Cal-Select Program" -- Purchase and Construction Loans
- Loan amounts from $500,000 - $1.75 million
- Must be a practicing Medical Doctor, Opthalmologist, Dentist / Oral Surgeon / CPA, or Attorney to qualify. (sorry - veterinarians and persons who have a "PhD" but are not practicing medical doctors and do not qualify for the Cal-Select program -- see our "Standard" Super Jumbo Loan Programs instead)
- Down payments starting as low as 5.00% on a $1.316 million home price, 10% down on a $1.67 million home, 15% down on a $2.060 million home, and 20% down up to a selling price of $2.50 million dollars
- ONE LOAN
- NO monthly mortgage insurance
- NO prepayment penalties
- Minimal housing reserves required
- FICO credit score as low as 700 ($1.50M max loan)
- Available for Refinance transactions -- rate/term and cash-out refinancing
- New Construction Financing - to build a primary residence
- many more advantages
- Call or inquire online for more info on this unique jumbo loan offering. 800-644-8829.
"One Loan" Purchase / Refinance Super Jumbo Loans
When you want just one super jumbo loan with a reasonable down payment or equity for a rate/term refinance, call us!
"Standard" One-Loan Jumbo Financing
- 90% financing up to $2.50M loan amount ; amortized ARM
- 80% financing to $3.0M; interest-only or amortized terms
- 75% 1st financing from $3.01M to $5.0M, and add up to $500,000 2nd loan to achieve maximum leverage
Lowest Payment, Maximum Flexibility
NEW: 89.90% financing with an Interest-Only 1st loan and amortized (P&I) 2nd loan, max $1.70 million combined loan amount ($1.89M sale price) -- purchase a home up to $1,890,000 with 10.1% down and keep your payment as low as possible with this combo -- call for a quote!
Interest-Only jumbo loans are available in 5/1, 7/1, and 10/1 ARM terms from $500,000 to $10 million. Interest-only super jumbo loans offer substantially lower monthly payments which are fixed for the first 5, 7, or 10 years and have a choice of 30 or 40-year note terms. Once the initial fixed, interest-only term expires the loan is recast to a fully-amortized (principal & interest) payment schedule for the remaining term of the note. A no-cost, no re-qualification option to convert the ARM loan to a fixed-rate loan term is available -- call for more information.
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 with 5/1, 7/1, and 10/1 terms and a free ARM-to-Fixed conversion option is available upon expiration of the initial Interest-Only, fixed term.
- Investment property financing with Interest-only loan terms! This is a unique product -- very few lenders offer interest-only option payments on investment property, but we do. Maximize your monthly net rental cash-flow and enjoy fixed payments during the interest-only 5/1, 7/1, or 10/1 term, with a free ARM-to-Fixed conversion option available.
- Free ARM to Fixed Loan Conversion Option -- our super jumbo, interest-only 30 and 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!
- Asset based loan programs -- for those with cash flow issues, we can utilize assets like retirement accounts and publicly traded stock to bolster qualifying income, coupled with very competitive jumbo loan terms. Available on loan amounts from $500,000 - $5.0M.
- Sub-Prime and Hard Money jumbo loans. We offer sub-prime and hard money financing for specific situations that just miss bank guidelines for high-end real estate in California markets, including owner-occupied primary and second homes as well as investment property. This type of loan is perfect for those with less-than-perfect credit or other issues. 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 $3.0 million loan amount.
FOREIGN NATIONALS: We offer super jumbo loans to persons with just a passport seeking to purchase a second home or investment property in California -- call for information.