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

    ±

    BASED ON LOAN TYPE

    Seller Contributions

    ±

    BASED ON LOAN TYPE

    DTI Max

    ±

    VARIES BELOW 45%

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