801010: How to get a jumbo mortgage with a 10% low down payment in Maryland, DC, or Virginia
- 01/31/11 12:57 AM
How to get a jumbo mortgage with a 10% low down payment in Maryland, DC, or Virginia Likely if you're reading this you are frustrated that there seems to be no way to obtain a mortgage above the Fannie loan limits, normally requiring a jumbo loan. Alternative (non-conventional) loan products are loans required for loans above $729,750 for the DC metro area (including Northern Virginia, Arlington, Fairfax, Loudoun, Alexandria, Falls Church, Manassas, Montgomery County, Frederick County, Prince Georges County, and the District of Columbia). Similarly, in the Baltimore metro area the limit is $560,000 (including Howard County, Anne Arundel County, Baltimore County, Baltimore … (1 comments)
801010: How can an 80/10/10 Loan Save You Money?
- 04/06/10 08:21 AM
Presented below is one of the ways our 80/10/10 loan program can save your buyers money over a loan with mortgage insurance: $450,000 Property Option 1: 90% First Loan 5.25%, Monthly Mortgage Insurance %0.62, 10% Down paymentFirst Loan P/I: $2,236Mortgage Insurance: $209Total P/I Payment: $2,445 Disadvantages: Mortgage insurance companies require separate underwriting on-top of the standard bank underwriting. Therefore, loans may meet bank underwriting guidelines but may not meet MI underwriting guidelines. Separate underwriting delays loan processing and closing. Mortgage insurance is only tax deductible for households with income below $100,000 completely phasing out after incomes reach $109,000. Borrower … (0 comments)
Loan Officer with First Place Bank in Rockville Maryland. FHA, 80-10-10, VA, Conforming, Jumbo, Refinances, a group of local approved appraisers (no 3rd party appraisal system), In-House Processing and Underwriting. Servicing Maryland, DC, and Virginia.
How to get a jumbo mortgage with a 10% low down payment in Maryland, DC, or Virginia
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