I will be available this weekend to assist with your clients' pre-approvals, offer letters and home loan questions. If I can be of service, feel free to reach me on my cell phone at 415-367-5959, or by e-mail at rspinosa@rpm-mtg.com.
Earlier this week, RPM introduced a 5/1 Interest-Only (I/O) jumbo loan program and the guidelines are below. This program has some great features:
Interest rate is fixed for the first 5 years but the I/O option continues for an additional 5 years --- 10-year I/O feature.
80% LTV/CLTV up to $1,000,000 loan amount on fully-amortized program.
Debt-to-income ratios (DTI) available up to 45%.
RPM controls the underwriting process and underwrites in house!
RPM assigns local appraisers through its appraisal management company.
Great turn times and closings on jumbo loans in under 30 days!
I have already received a number of calls about this program and explained what it can and cannot do. If you need assistance, get in touch and we'll review your specific scenario. Here is the matrix:
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