A jumbo loan is a mortgage that exceeds the conforming loan limit set by the FHFA for a given area. The most common conforming loan limit for 2020 is $510,400. Loans above these limits cannot be backed by government entities Fannie Mae and Freddie Mac.
We can finance jumbo loans in CA, WA, UT and OR.
Up to $3,000,000
1-4 unit residential property O/O, 2nd Home, or N/O/O options available
O/O Consumer Purpose
For borrowers with less than perfect credit, challenges with proof of income, a need to close quickly, or agency loan fallout.
Purchase or refinance of 1-4 unit properties.
Owner occupied primary or 2nd home
Alternative income documentation i.e. bank statements, 1099s, etc. acceptable.
N/O/O Business Purpose
For borrowers to purchase or refinance a N/O/O SFR, Condo or 2-4 unit investment property or do not qualify under any guidelines.
Either debt to income ratios (DTI) or the property’s cash flow (DSCR) can be used for income documentation
Business Purpose (O/O or N/O/O)
For borrowers requiring short-term financing for residential, multi-family, or mixed use property types. Proceeds can be used for either consumer or business purpose.
1-4 unit properties
Either O/O or N/O/O
or Fix & Flip (N/O/O)
For borrowers seeking to acquire and renovate 1-4 unit residential property to hold or for quick sale.