New Jumbo Products Helping Borrowers

Just hitting the market are 5% down jumbo loans up to $625,000 and a 15% down to $2.5 million for people with credit scores over 760.  Ths means you can get into a home costing $2,900,000 with only $450,000 of your money versus the normal $600-$750k (20-25% down). These are amazing financing opportunities for those who the funds and credit scores to back it up.

Homebuyers and homeowners have little excuse if they ave money each month on a refinance or for those looking to get a loan to purchase their dream home utilizing decade low rates.  Rates are not going to go much lower form they are according to industry experts.

$2.5 million dollar home in Calabasas

Lenders have become more aggressive on jumbo loans due to the lower default rate by borrowers.  These loan products are sorely needed as many self-employed jumbo prospects aren't buying due to the absence of a no income verification (NIV) product. Although, there are bank statement loans and 1 year tax returns to help many people, some borrowers require a true NIV  product where no income is disclosed or available using their signature on a 4506-T form.

The bank statement product has gained inpopularity as borrowers simply provide the most recent 12 months and add up the income to justify a monthly income amount. Keep checking back or visit iJumboLoan.com for up to date information on programs.