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Jumbo Loan Down Payment Options
Many people envision low-down-payment programs for first time homebuyers. But if the after-tax return on alternative uses of that money exceeds your financing costs, putting little or no money down on a home is a wise financial choice*. Financing from 95% to 100% of your home helps you avoid liquidating assets to cover a down payment and possibly paying capital gains after liquidating. This innovative financing strategy, also called "zero down" offers several benefits.
Preserved investment strategy. Financing 100% of your home purchase, for example, allows you to keep your investment portfolio intact by avoiding liquidation of your assets to fund a down payment.
Increased potential tax deductions. By financing the entire purchase price of your home, you may increase the amount of deductible interest expense*. Deferred capital gains tax exposure. Keep your assets invested and defer potential capital gains tax*.
Reduced up-front mortgage expenses. Finance your whole purchase price to control your up-front expenses or reduce your down payment to a little as 20% on super jumbo loans to avoid the requirement of paying mortgage insurance.
Benefits of a Lower Down Payment
Some of the low down payment Jumbo loans available are:
10% down payment on Jumbo Loans - 90% financing up to $1.1 million with "full documentation"
now offered in: AZ, CA, CO, FL, MI, OR, UT, WA - Click on your state to see the additional rules.
Requirements: 760 credit score, no short sales, foreclosures or BKs
90% financing from $417,001 to $729,250 in "high cost areas " - Full Documentation" 680+ credit score:
75% financing from to $1,600,000: " - Full Documentation" 720+ FICO score: 90% is allowed but must be from seller or different financial entity.
60 to 70% up to $650,000 for No
Income Verification 720+ score:
50% up to $2,500,000 ( No Income Verification 720+ FICO score; )
50% financing to $4,000,000 ( No Income Verification 740+ FICO score;)
financing up to $1,000,000 ( No Doc - No Income, Assets or Job)
Loan programs above may have interest only loan payment options
Consult your tax advisor about your personal situation. Certain Restrictions Apply and not all borrowers may qualify. Loan program terms are subject to change without notice.