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Do you have a client in need of a Jumbo Loan?

By
Mortgage and Lending with CNN Mortgage NMLS # 771044

Flagstar Bank Jumbo's are the following;

Full Documentation Loans 

- 95% CLTV up to $650K Fico: 680

- 70/90 CLTV up to 2 million Fico: 680

 * Based on 1-2 unit Properties/PUD/ Warrantable Condo

 

Stated Income Verifed Assets

- 80/90 CLTV up to $1m Fico: 680

- 70/80% up to $1.5m Fico: 680

- 65/80% up to $2m Fico: 680

* Based on 1-2 unit Properties/PUD/ Warrantable Condo

 

Also can be used as an ARM

 

The Jumbo product is a mortgage loan program offering Fixed and ARM products

allowing for jumbo loan balances. Also offered are a 10-year interest-only option and a one- or threeyear

hard prepayment penalty (available in many states). A SIVA option is offered for primary residence

transactions only. These loans are intended for delivery to a private investor and while we have

attempted to cover all scenarios in this guide, it is subject to the investor's guidelines.