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Can I get a jumbo loan if I put less than 20% down?

I have excellent credit and high income but not enough in savings for a big down payment by BWatterson from Miramar, Florida. Jan 9th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

It depends.. There are lenders who will do Jumbo products with 15%, and 10% down.. there's even a lender who will do 100% financing, but it really depends on how much the sales price is... big difference between a $800K home and a $3M home... both are jumbo, but one will require only 15% down, while the other 25%.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jan 9th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

There are several options depending on where the property is (need County and State) as well as your Credit Score, Debt to Income Ratio, etc. I would be happy to discuss this directly by phone or email and get you some scenarios that may work for you without any obligations. Let me know your thoughts. You can send me a direct email though my profile on this site. Thank you! Steven

Jan 9th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Possibly depending on how large a loan and your other qualifications. I have an option that offers up to 90% with no PMI. pdmouchel@primelending.com and I do lend in Florida occasionally.

Jan 9th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

BW,It will really depend on where you are looking to buy, your credit score, debt to income and actual loan amount, if you are in FLA it seems most lenders have lower allowable Ltv's. If you'd like to give us a call with particulars we would be glad to try and help. Call or email us 201-962-3555 and team@BestMortgageOption.com ask for Benny or Michelle

Jan 9th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

You can as long as your other qualifications are strong.

Jan 9th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

The Short Answer is probably not. Every circumstance is different. I live in your county and city. I know all the jumbo lenders. Call me.Respectfully - Andrew Alfonso - 800 813 3291 www.doubleamortgage.com

Jan 9th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

There is a loan option for up to $423,750 in Broward County with a loan program for you to consider. More details from your situation would be needed if you are willing to share!

Jan 9th 2013
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

FIRST , what is the size of the loan that you are looking for?? linda yourloanpartnerforlife@live.com

Jan 9th 2013
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