10% Down Jumbo Loans Are Back

Posted On: Thursday, May 12, 2011 - 12:54pm | Posted By: Zephyr Real Estate
Topics: Buyers and Sellers

After a long hiatus, 90% jumbo loans are back in the game for higher-priced homes. Up until recently, a down payment of 20% was mandatory for jumbo loans over $729,750.   Our TeamZ lending partners at Guarantee Mortgage have an exclusive contract with a small credit union that will lend up to $979,200 with a down payment of only 10%. That means you can purchase a house or condo up to $1,088,000 using a 5/1, 7/1 or 10/1 ARM. The program requires excellent credit and income and monthly mortgage insurance.

(Content courtesy of: Natasha Lovas, Guarantee Mortgage.)