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5 Ways to Buy a Million Dollar Home

The housing market has never had a period where the percentage of all-cash buyers are one-third of all purchase in loans under the jumbo loan limit.  With all the hoops borrowers have to jump through for conforming Freddie and Fannie Mae products, they simply paid cash. In the non-conforming category, all-cash buyers represented 36% of Read more about 5 Ways to Buy a Million Dollar Home[…]

Increasing Leverage On A Multi-Million Dollar Home Purchase

In accordance with a new jumbo loan program, we break down a lending example below for home buyers in the high cost home markets. Financing scenario: Purchase Price: $2 million; First loan: 80 percent loan-to-value (LTV) maximum, Second loan: 5 percent; combined LTV of 85% for 15% down payment. Loan Highlights: Time to close 25-day Read more about Increasing Leverage On A Multi-Million Dollar Home Purchase[…]

Is the Housing Market About to Get Squeezed with Lower Loan Limits?

Mortgage news is out that Fannie Mae and Freddie Mac, the largest providers in the mortgage industry, might be reducing their maximum loan amount sometime next spring. This means borrowers who don’t qualify according to the revised limits will be required to apply for a jumbo loan, where requirements for liquid reserves, down payments, and Read more about Is the Housing Market About to Get Squeezed with Lower Loan Limits?[…]

Are There Jumbo Loans With Just 5% Down?

This is a thought that borrowers want to know but the truth is if you are fortunate enough to get ten-percent down using expanded conforming-guidelines in high-cost areas that should be something to be grateful of because a 5%-down jumbo loan is for the most part gone unless you find a niche portfolio program. This Read more about Are There Jumbo Loans With Just 5% Down?[…]