10% Down with Pledged Assets

Mortgage and Lending with Guaranteed Rate, Marin County, CA NMLS: 22343

10% Down with Pledged Assets


Here in California, I come across a lot of home financing scenarios, especially on the jumbo side, where the buyer would prefer to make a 10% down payment instead of a 20% down payment.  And what we commonly see is that as the price range of the home increases, so too does the difficulty of only contributing 10% to the purchase transaction.  What can these buyers do?  We have three highly effective solutions:


    • 80/10/10, or "piggyback" financing.  This works well for home prices in the range of $825,000 to $1,100,000.  Since a second mortgage, or 80-10-10 is fairly straightforward and the most easily understood, just e-mail me if you'd like more information on how this would work for you.


    • REX Homebuyer down payment funding.  REX, covered in this video here, will permit a 10% down payment up to a purchase price of nearly $1,600,000.  REX can also be used up to a purchase price of $2,000,000 with as little as 12.5% down.  The big benefit of REX?  No monthly payments.  It's an equity investment, paid back when you sell the home.


    • Pledged assets.  A pledged asset structure will permit a 10% down payment up to a purchase of $5,500,000.  Perhaps the best thing about our program is that it doesn't require that you move all your money to another institution.  Love your financial advisor?  You can keep him/her and still pledge the majority of your down payment. The other main points are covered in this video below:





If you are a homebuyer in California and need help with a 10% down payment home loan, also known as an 80-10-10, get in touch today and we'll figure out the best program to meet your needs.  And if you're a real estate professional who has a client looking to buy a home in the luxury market, but who will need to leverage the financing beyond a 20% down payment, let's talk about what programs might offer the best fit and present the strongest offer to the seller.  I can be reached at the contacts below.


Rob Spinosa
Mortgage Loan Originator
NMLS: 22343  CalBRE: 01297944
Cell:  415-367-5959     Fax:  415-366-1590
rspinosa@rpm-mtg.com     www.rpm-mtg.com/rspinosa 
1058 Redwood Highway, Frontage Road, Mill Valley, CA  94941


    Google+ Inzopa Badge


RPM Mortgage, Inc - BRE# 01818035 – NMLS# 9472 - CA Bureau of Real Estate, Real Estate Corporation License. Equal Housing Lender.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Mortgage / Finance
Addicted to Active Rain
The Lounge at Active Rain
10 down
down payment
real estate
home loan

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Rob Spinosa

SVP of Mortgage Lending, Marin County
Can I Get a Jumbo Loan with 10% Down?

Additional Information