The Real Estate market in Florida is pushing to homebuyers to jumbo home loans. A loan is considered jumbo if the amount of the loan amount exceeds the conforming limits set by Fannie Mae and Freddie Mac. Currently $647,200 in Florida State for single family residences.
Below our Jumbo Program requirements:
- Fixed and ARM Rate products available
- Owner-Occupied, Second Home and Non-Owner Allowed
- Purchase, Rate/Term Refinance, Cash-Out Refinance Allowed
- Single Family Residences, 2-4 units, PUDs, and Warrantable Condos allowed, maximum 25 acres
- Minimum Loan Amount $1 over high balance conforming limit
- Loan amounts up to $3,000,000
- First-Time Homebuyers allowed
- Full Documentation required (2 year income taxes, income verification)
- Credit scores as low as 720
- DTIs up to 43%
- Eligible borrowers: U.S. Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens
- One full appraisal for loan less than $2 million
- Two (2) full appraisals for loan amounts over or equal $2 million
- Chapter 7, 11, and 13: discharged or dismissed 4 years prior to loan application
- Foreclosure: 7 years prior to loan application
Contact us
For more information about the types of Jumbo loans, you can contact me by sending me a message through WhatsApp or through my Contact Page and I will gladly assist you with my best advice.
