Jumbo Loans

Our suite of jumbo products offers various options which mean more loan choices for your potential buyers. Whatever your jumbo clients' unique set of needs, we can help you find the right solution to help their dreams come true.  

ELITE EXPRESS JUMBO
A speedy, streamlined option that allows the user to follow documentation as specified by DO (Desktop Originator) or LP (Loan Prospector).

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GOLD JUMBO - Temporarily Suspended 
Offers borrowers the purchasing power and maintains value over the long term.

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PREFERRED JUMBO
A product that offers several options for borrowers looking for a loan with flexible purchase terms with generous LTVs.

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SAPPHIRE JUMBO
Great product for Jumbo Loans over $2MM.

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Elite Express Jumbo

  • 89.99 LTV on Primary and Second Home Purchase
  • 89.99 LTV on Primary residence cash-out refinance
  • Loan Amounts from $766,551 up to $2MM
  • Minimum FICO of 660
  • Available for First Time Home Buyers
  • Permanent and Non-permanent resident aliens are eligible
  • 30 and 15 Year Fix
  • Purchase, Rate/Term, and Cash-Out Refinance
  • Gift funds allowed after 5% borrower contribution of funds

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Gold Jumbo - Temporarily Suspended

  • Loan Amounts from $766,551 up to $2 Million
  • 30 years Fixed Rate and 30 years I/O Fixed Rate
  • Purchase, Rate and Term, and Cash-Out Refinances
  •  Properties:
    • 1-4 Unit Primary Residences
    • 1-Unit Second Homes
    • 1-4 Unit Investment Properties
  • Fannie Mae DU driven product with limited overlays
  • Limited Condo Reviews permissible per DU findings
  • Reserve requirements follow DU findings on LTVs ≤ 80%
  • LTV’s up to 85% without PMI
  • Min. Credit Score is 680
  • Maximum DTI:  36% for LTVs > 80%    45% for LTVs ≤80%
  • Business assets may be used for funds to close and reserves after loan closing
  • Appraisal Requirements based on Combined Loan Amounts and transaction type:
    • Purchase Transactions:
      • 1 Full URAR Appraisal ≤ $2MM
      • 2 Full URAR Appraisals > $2MM
    • Refinance Transactions:
      • 1 Full URAR Appraisal ≤ $1.5MM
      • 2 Full URAR Appraisals > $1.5MM

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Preferred Jumbo

  • Loan Amounts from $766,551 up to $4 Million
  • Maximum LTV/CLTV 80%
  • Purchase, Rate Term and Cash-Out Refinances
  • Loan Terms
    • 15-Year Fixed Rate
    • Fully Amortizing 30-year ARMs: 5/1, 71/ and 10/1 Fully Amortizing 30-year term
    • Interest Only: 5/1, 71/ and 10/1 ARM (Max. of $2M (no cash out))
  • Min. FICO
    • 700 for loans amounts up to $766,550
    • 720-740 for fully amortized jumbo loans from $766,551 up to $4 Million
    • 740 for Interest-Only (all loan amounts)
  • Cash-out refinances
    • Pay off non-seasoned, non-purchase money second mortgages on a primary residence
      and Cash-Out up to $500,000

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Sapphire Jumbo

  • 90% LTV on Primary residence
  • Loan Amounts from $766,551 up to $3MM
  • 15 or 30 Year Fixed Rate
  • Available for First Time Home Buyers
  • Permanent and Non-permanent resident aliens are eligible
  • Primary, Second home, and Investment Properties
  • Purchase, Rate/Term, and Cash-Out Refinance
  • Gift funds are allowed after a 5% borrower contribution of funds
  • Employment, Income, and Liabilities now follow the requirements per the Fannie Mae Selling Guide or Freddie Mac Seller/Servicer Guide.
  • Revolving debt paid off before or at closing does not require the closing of the account to exclude this debt from the debt-to-income ratio.
  • Rental income and conversion of a departing primary residence into an investment property are now permitted per Fannie Mae or Freddie Mac requirements.
  • Recertification of value is now acceptable when the appraisal will be more than 120 days by loan closing, extending the original appraisal to 12 months from its effective date to the date of loan closing.

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