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Investment Property Jumbo Mortgage with Low Down Payment
Investment Property Jumbo Mortgage with Low Down Payment
 
Since I'm in California, and property values where I live and work tend to be on the, shall we say, higher side, residential real estate investors --- those looking to purchase a home of 1- to 4-units to be used as an income-producing property --- can sometimes be limited in their attractive jumbo mortgage options.  This is especially true if they are looking to keep their down payment as low as possible.  Many potential rental property buyers are told flat out that even a 20% down payment is California dreamin', and that a jumbo loan on a duplex or triplex, for example, requires a 30 or even 35% down payment.  So in addition to being known for good vibrations and sun, let's talk about our proclivity for innovation and examine some of our low down payment jumbo mortgage programs specifically catered to investment properties.
 
15% Down Payment
For a property of 1 to 4 units, we'll lend up to $1,000,000 at a loan-to-value (LTV) of 85%.  This implies a max purchase price of about $1,175,000 at the highest LTV.  There is no PMI on this loan.
 
20% Down Payment
For a property of 1 to 4 units, we'll lend ... more

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