Loan Options

Jumbo Loans

Loan Options:

Jumbo Loans

For borrowers who need a loan that exceeds the Conventional, FHA, VA, or USDA limits (currently $424,100 in most FL counties), Jumbo loans are available. These have different underwriting guidelines and standards from the rest of the loans. Here’s why you’d consider a jumbo loan:

 

  • Larger loan amounts are the obvious reason borrowers require this type of loan. These are basically portfolio loans, which typically require much more stringent underwriting and appraisal guidelines.

 

  • Sophisticated income situations are common with business owners and high-income earners. Often times these scenarios fall in the need for a Jumbo loan, too.

 

  • Strong assets are almost always required with Jumbo loans, including a larger % of down payment, and required assets in the bank after closing.

 

 

Down Payment

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BASED ON LOAN TYPE

Max Loan Amount

MILLIONS

BASED ON LOAN TYPE

Credit Score

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BASED ON LOAN TYPE

Seller Contributions

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BASED ON LOAN TYPE

DTI Max

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VARIES BELOW 45%

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