One of our key jumbo loan products that has become more popular recently is the cross collateralized loan, which can add additional property and/or assets to a property value to create a single loan.
We often get borrowers that indicate they had purchased a home in Vegas for example for $4 million, they owe $3 million, and it's only worth $2 million. That's 150 LTV, and providing the borrowers have sufficient cash reserves and or collateral to cross we would offer a loan to pay off the existing mortgage.
Basically this program allows us to synthetically create LTV, using additional property or cash and securities as the collateral. In addition borrowers don't have to have AGI income to qualify, in fact most high net worth borrowers don't have personal income to qualify for very high-end loans. In this case we use a cash flow method for a borrower like this that would otherwise be known as the stated income borrower, and we would simply qualify this borrower for a jumbo loan with cash flow rather than AGI income.
If you have high net worth borrowers that don't qualify for conventional lending, feel free to contact us at info@SuperJumboLoans.info with any scenario for review.