JUMBO LOANS

Jumbo Elite is a mortgage loan intended for well qualified buyers that are looking for a mortgage higher than the conventional limit (currently $548,000 in most areas). Borrowers can choose from 30-year fixed product or three different ARM programs. Usually, a 20% down program is required, however, there are programs that require only 5% down payment.

• Down Payment: Usually 20% or more down, but less down payment options are available
• Credit Scores: Ideal for borrows with credit scores greater than 760 (Lower credit scores in a range of 720 to 759 are accepted with pricing adjustments.) Middle score of highest income earner will be used.
• Loan Limits: Up to $5,000,000
• Occupancy: Owner occupied or second residence