Can I Get Jumbo Loan With 20% Down Payment?

What’s a Jumbo Loan?

A Jumbo loan, otherwise known as a jumbo loan with 20% down payment is a loan that’s above the conforming loan limits. This limit is set by Fannie Mae and Freddie Mac, who purchase loans from lenders. If a loan amount is higher than $766,550 then neither of the two government-sponsored entities will purchase that loan, and it’s considered a Jumbo loan. Typically, both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other jumbo lenders, freeing up liquidity to lend on more mortgages. We offer the best Florida Jumbo Mortgage Rates for a 10 percent down payment jumbo loan, and we provide a lot more jumbo loan options than other jumbo lenders do.

What are the down payment options for getting a Florida Jumbo Loan?

Our 20% Down Jumbo Loan Program Requirements

  • The borrower’s credit score should be 660 minimum to be eligible.
  • Standard full amortized (principal and interest) program terms available. This includes 15 and 30 yr fix and adjustable 5-1, 7-1, 10-1 ARM’s.
  • Buyers should have 6 to 12 reserves after closing. The term “Reserves” refers to the amount of savings a buyer has remaining after their down payment and closing costs.
  • The programs are available for single-family residential housing (regular house, townhomes, and condominiums)  Multi-unit, vacant land, and commercial properties are not eligible.
  • Debt to income is limited to 43%.
  • No BK, Short-Sales, or Foreclosures in the previous 7 years.
  • 12-month waiting period options available for prior BK, Short-Sales, or Foreclosures with 660 scores 80 LTV up to $1,000.000.
  • Self-Employed borrowers may want to take advantage of our Bank Statement loans.

Serving borrowers across Florida, including;  Orlando, Miami, Tampa, Jacksonville, Coral Gables, and West Palm Beach.

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Comparing Current Florida Mortgage Rates

Finding the lowest Florida mortgage rate is very important, that’s why we’ve already searched them for you, getting the lowest interest rate possible could save you hundreds of dollars a year and thousands of dollars over the life of your loan. Yes, having us find you the best interest rate is a big deal.

Current Florida Mortgage Rates

When you “CLICK HERE” you’ll instantly see today’s lowest mortgage rates. If you see an interest rate you like, you can click to head straight to get your Custom Rate Quote.

Why Should You Choose Us For Your Home Loan?

We work for You & Not the Bank.  When working with us, your not “stuck” with ONE bank’s restrictive set of underwriting guidelines, which can put caps on your debt to income ratio or require a lot of mortgage reserves! We always seek out the best lender to suit your specific situation and find lenders with the Best Mortgage Rates! Oh, Ya we don’t keep bankers hours we always answer your phone calls and text messages in the evening and on the weekends…. because we don’t get paid a salary…. we only get paid when your loan closes and most of the time we get paid by the lender and not by you!

We offer the Best Mortgage Rates!

Our “Outside The Box Thinking”  gets home loans approved and closed every day through a variety of unique loan products! One-Year Tax Returns, Cross Collateralizing Properties, Assets as Income, Bank Statement as Income, and No Income Verification Investment Loans. Along with our years of experience and understanding tax returns, knowing what expenses to add back in and how to stretch your funds to pay off debts to reduce your DTI. If necessary, we can try to increase your credit score, then do a rapid credit re-score.

Get Pre-Qualified Fast, see you’re credit scores immediately, and close in 30 days or less with our E Zip Mortgage! It’s all online, reduces paperwork, and provides you with a secure, collaborative document upload portal that regularly notifies you via text messaging & emails with all loan updates. Get Started Now!

Our Professional and Experianced Team of Loan Officers are ready to help you.

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