Low Down Payment Super Jumbo Loans
* 10% down super-jumbo loans up to $5.0 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 $1.50 million (10% down over $1.50 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, reserves, and other qualifying criteria.
- 15% down on home purchases up to $2.0 million with more flexible FICO credit and reserve requirements. No mortgage insurance -- these are 1st & 2nd combo loan structures.
- 15% down on home purchases up to $1.765 million with ONE LOAN, NO mortgage insurance less than 700 FICO okay and 6 months reserves - these are combo 1st & 2nd loan structures.
- 20% down on home purchases up to $6.25 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 $1.50 million to $5.0 million
Refinances preferred, but available for purchase and refinance, including cash-out. Also available in amortized ARM / Fixed loan terms. Certain conditions and restrictions apply, as does a loan origination fee. Purchase transactions may require an extended closing / contingency terms.
MEDICAL DOCTORS (MD), DENTISTS, ATTORNEYS and ACCOUNTANTS
We offer a unique super jumbo purchase loan program starting at $500,000 for licensed and practicing MD, Dentist, Attorney, and CPAs in California:
"Cal-Select Program" -- Purchase Loans
- Loan amounts from $500,000 - $2.75 million
- Must be a practicing MEDICAL Doctor, Dentist / Oral Surgeon / Accountant / CPA, or Attorney to qualify. (sorry - veterinarians and persons who have a "PhD" but are not practicing medical doctors 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 $1.050 million home price, 10% down on a $1.944 million home, 15% down on a $2.65 million home, and 20% down all the way up to a selling price of $3.75 million!
- Low interest rates
- NO monthly mortgage insurance
- NO prepayment penalties
- NO / Low housing reserves required
- FICO credit score as low as 660 ($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
- 85% financing to $1.765M; amortized ARM or fixed term
- 80% financing to $2.0M; interest-only or amortized terms
- 75% financing to $3.0M; interest-only or amortized terms
- 70% financing to $5.0M; interest-only or amortized terms
"Premium" One-Loan Super Jumbo Financing
Unique financing for very high-income and high-asset borrowers with superior credit.
- 90% financing from $1.0 million to $5.0 million
Refinances preferred. Purchase transactions require a minimum 45-day escrow.
Interest-Only jumbo loans in 5, 7, and 10-year ARM terms are available 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.
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!
- Property Title vested in a Trust, LLC, Corp, LP, LLP -- all are acceptable. You do not need to hold title in your personal name.You can have less than ideal scores, but no recent derogatory credit for conventional bank options.
- Asset based loan programs -- for those with cash flow issues, we can utilize market assets and publicly traded stock to qualify, coupled with very competitive jumbo loan terms. Available on loan amounts from $500,000 - $5.0M.
- Hard Money jumbo loans. We offer 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 best utilized as temporary financing rather than a long-term solution due to the inherently higher interest rates and payments. 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: 60% financing $350,000 to $2.0M, 55% financing to $3.0M, and hard money lending. Call 800-644-8829 for more information on our VISA and Foreign National jumbo loan programs.