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What is a Jumbo Home Loan? A Jumbo Home Loan is for those needing larger loan amounts that surpass Fannie Mae and Freddie Mac guidelines. Lenders set the loan limits, varying by county. These loans have stricter requirements but are aggressively priced, making them suitable for those with steady income and strong credit.
Who is it for? Ideal for clients who can document their income, including self-employed individuals. Common requests come from salaried borrowers, business owners, real estate investors, and builders seeking documentation flexibility
Common Objectives:
-Restructure existing mortgage debt for better terms.
-Unlock equity in primary, secondary, and investment properties.
-Improve cash flow and debt structure using cash-out options.
-Focus on pre or post-retirement solutions, including no mortgage payments and cash-out through a HELOC.
-Lock in a long-term interest rate.
-Accelerate paying off current homes.
-Manage monthly payments with interest-only options.
-Improve cash flow for rental properties.
-Utilize aggressive Non-QM loans with less documentation.
Tell us More about your needs!
Types of Jumbo Loan Products we offer:
-Non-QM and Jumbo Loan Amounts up to $5 million.
-Full documentation or 12/24-month Bank statements, with no P&L. P and Ls only Loans. Asset based loans.
-Large cash-out amounts for 1st or 2nd Mortgage Loans.
-Reverse mortgage loans with no payments and cash-out up to $4 million (OAC).
-Up to 90% LTV on primary purchases up to $1.5 million.
-Up to 75% LTV on 2-4 unit owner-occupied purchases and refinances.
-LTV up to 75-85% on refinances and cash-out.
-Available for primary, second home, and investment properties.
-Fixed rates and ARMs.
-First-time homebuyers allowed.
-DSCR investment loans with no employment on 1003.
-Minimum credit scores typically 680.
-Gift funds allowed.
-Delayed financing available with R&T pricing.
“Lite Doc” Jumbo Loan Product:
-12 or 24-month bank statements, 1099 income, or 1-year tax returns.
-Reliable source for self-employed loans up to 70-85% LTV.
-Available terms: 15 and 30-year fixed or 5/1, 7/1, and 10/1 ARMs.
-Suitable for primary residences, second homes, and investment properties.
-Minimum credit score typically 680-720.
-First-time homebuyers allowed.
-6-18 months reserves are typical.
-Cash-out Jumbo Loan products available in California.
-Gift funds allowed, appraisal transfers allowed, and solid continuing employment considered.
-Possible to use outside US liquid assets in some cases.
-Foreign nationals welcome.
Other Key Loan Details:
-Cash-out loans for both salaried and self-employed borrowers.
-No seasoning requirements for refinances; cash-out seasoning is typically 6 months.
-Qualification is based on the new loan amount.
-Cash-out can sometimes be used as reserves to close.
-Focus on a smooth file review and timely locking in of low loan rates.
-Loan process typically completed in under 30-45 days, even for cash-out loans.
-Loans for Borrowers with combined W2 and SE Income.
Consultation Request: Dan offers a free consultation to:
-Identify your real estate loan goals quickly.
-Discuss suitable mortgage products, pricing, and timelines.
-Go over documentation requirements and pricing.
-Create a roadmap to achieve your goals via analysis.
-Provide access to bank underwriting teams for scenario reviews.
-Address borrower questions and explain the loan processing.
Conclusion: Dan Cassel and the Trinity Mortgage Broker Loan Team provide purchase and refinance "Cash-Out" Mortgage Loans throughout California, offering solutions that many full-service Banks may not provide.
For more information on mortgage rates and terms or to get started, please Phone Dan at 866-310-1112 or Click Here to tell us more and ask for a Professional Loan Officers Immediate Response.
