Since Jumbo lending does not have a set of "Conforming" guidelines, meaning each lending offering Jumbo can make up their own rules.. you really have to try contacting a local mortgage broker who will have access to numerous different lender, and they will find the right loan for your specific scenario.. But in general, expect lending requirements to be more strict since their exposure is much greater.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347
I only require a 660 or better with 20% down.
Our Jumbo investors require a minimum credit score of 720 for a first time home buyer. Please let me know if you have any other questions or would like some additional details on the program. Thank you!
Some of the requirements for us is 720 minimum credit score, 20% down payment for a single family home, and maximum loan amount is $1.5 million.
Depends on the lender
Most Lenders are different on Jumbo Loan programs as each lender can set their own perimeters for this type of lending. Even though brokers typically have more options in conventional financing, they are usually more limited in this arena than a direct lender. Direct lending will have looser guidelines than the wholesale guidelines that are provided to brokers. You can get a non-conforming loan up to 90% with a 700. All The Best,Russell
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