Jumbo Lending in Brentwood, TN

By
Mortgage and Lending with SWBC Mortgage 740662

 

Jumbo Lending in Brentwood, TNA Jumbo Elephant

Looking for a Jumbo Loan in Brentwood TN?  First off let’s identify what a Jumbo loan in.  For the Nashville MSA it is a loan amount greater than $417,000.  Can a jumbo loan be had?  Yes it can.  The credit qualifications are a little higher and it requires a larger down payment.   

Generally speaking you can go 90% loan to value (LTV) up to $650,000 with a minimum credit score of 700.  80% LTV to $1,000,000, credit score 700.  75% LTV to $1,500,000, Credit score 700 and 70% LTV up to $2,000,000.  This requires a credit score of 720.

Jumbo loans also have reserve requirements of up to 10% of the loan amount.  This is liquid or semi liquid assets.  There is a maximum Debt to Income ratio of 45%. 

If you are interested in a Jumbo loan in Middle Tennessee please call Lee Barroll at 615-243-1301 or www.leebarroll.com for a consultation on qualifications and rates.  

 

Comments (4)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for posting. We learn a lot from Active Rain Blogs. Best Regards,

Mar 30, 2010 03:39 AM
Lee Barroll
SWBC Mortgage - Brentwood, TN

You are quite welcome.  appreciate your comments.

Apr 01, 2010 04:10 AM
Franklin & Brentwood, TN Homes Mike Nastri
Keller Williams Realty - Franklin, TN
It matters to us as much as it matters to you.

I hope to work with you on a few of these in the next few months.  How's that sound to you?

Apr 01, 2010 05:01 PM
Pam Jank
Coldwell Banker Schneidmiller Realty - Coeur d'Alene, ID
Your Coeur d'Alene & North Idaho Real Estate Pro

Lee, I have a $2.5 Million Buyer looking to borrow $1,700,000.   We are being told they not only have to put a minimum of 25% down, they also have to pay 12-Month Reserves!  That is alot more than 10%.  And they have excellent credit score and debt ratio.

Mar 10, 2011 07:09 PM