Jumbo Mortgage Loan With 10% Down Payment For Florida
What is a 10% Down Payment Florida Jumbo Loan?
A 10% Down Payment Jumbo Mortgage, otherwise known as a Jumbo Loan is a loan that’s above the conventional loan limits. This limit is set by Fannie Mae and Freddie Mac, who purchase loans from lenders. If a loan amount is higher than $453,100 then neither of the two government-sponsored entities will purchase that loan and its considered a Jumbo loan. Typically, both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other lenders, freeing up liquidity to lend more mortgages.
Jumbo Loan Down Payment Requirements
- 10% Down for Owner-Occupied Properties,
- 10% Down on Second Homes.
- 10% Down Payment on Condos.
- We also offer 5% Down Payments for Owner-Occupied Properties.
- VA Jumbo Home Loans.
What are the requirements for getting a 10% Down Jumbo loan in Florida?
- Minimum Credit Score of 660.
- Maximum DTI 50%.
- First Time Home-Buyers Ok.
- No prior short sales, bankruptcies or Foreclosures last 2 Years.
- Bank Statements as Income loans are Available.
Why Should You Choose Us For Your Florida Jumbo Mortgage?
- Check out what our Prior Clients Have To Say About Us.
- We work for You and Not the Bank.
- We have the Best 30 Year Fixed Rates.
- “We Think Outside The Box“
- Fast loan closing (as little as 30 days).
- We can do a Piggyback 2nd Mortgage to help get your loan approved.
- Little or no Reserves required.
Are You Concerned You May Not Qualify for a Home Loan Because?
- Debt to Income Ratio is too High.
- Credit Scores are a little Too Low, not to worry we can do a Rapid Rescore.
- Prior Foreclosures, Short Sales or Bankruptcies.
- Prior Mortgage Late Payments.
- Don’t have Enough Reserves.
Not to worry our Loan Officers overcome these problems all the time, We know the Florida 10% Down Payment Jumbo Mortgage Loan Business and can Close Easy, Complex and Tough Deals.
We do this by utilizing our “Outside The Box Thinking” to get you pre-qualified for the maximum loan amount possible while keeping your 10% Down Payment Jumbo Mortgage Loan down payment and closing costs as low as possible.
Don’t just take our word for it, check out our prior client reviews!
Can you get a Jumbo Loan with only a 10% Down Payment?
Yes, you can for primary residence purchases!
Do you have to pay Monthly Mortgage Insurance (PMI) on a 10 Percent Down Jumbo Mortgage?
No, mortgage insurance is not required for our 10% down jumbo Loans!