More Good News for High-End Well-Qualified Buyers

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
More Good News for High-End 
Well-Qualified Buyers

 

http://www.genemundt.com/ContactUs.aspx

     JUMBO Loans, and the advantageous interest rates they have been enjoying, have been in the news quite often over the past few months.  

 

     These loans have continued to be a good bargain in comparison to the past, due to the current rate climate and Lenders' appetites for making high-end, high-performance loans to well-qualified Borrowers. 

 

    
     Great! 
 
     But for American Portfolio Mortgage Corp. customers, existing or new, the news just got even betterWhy? 

 

     Generally, loans above 80% of the Sales Price/Appraised Value (whichever is less) have been required to carry Private Mortgage Insurance (PMI).  With American Portfolio Mortgage Corp.'s new CORE JUMBO Program ... clients will NOT be required to carry Private Mortgage Insurance.

 

     This option is available to any Borrowers via the following qualification:  

 

  • Borrower must be capable of putting down 10.1% of the Purchase Price ... up to $1.5 Million Loan Amounts


     Also:  Specific qualifications must be met on the following:

 

  • Credit Score
  • Housing Payment History
  • Employment History
  • Debt-to-Income


     The loan type is a 5/1 ARM.  Funds for down payment will be verified.  Funds must come from the Borrower's own funds * 

     Note:  * There is a minimum of 5% that must be the Occupying Borrower's own funds.

https://1609956119.secure-loancenter.com/FreeConsult.aspx     Other benefits to the APMC CORE JUMBO Program include higher loan amounts and/or allowed for lower Credit Score Borrowers with larger down payments (20% or more down).   

     Credit Scores can be as low as 700 ...

     Borrowers with high incomes, relatively mobile in their employment/professions, and experiencing challenges in amassing a 20% down payment, will especially benefit from the flexibility of American Portfolio Mortgage Corp.'s new CORE JUMBO Program.

     The following special features are also included within the APMC CORE JUMBO Program:

  • Second Home Buyers can participate, but must comply to program restrictions
  • Investors can also participate, but also must comply to  program restrictions 
  • Traditional (Warrantable) Condominiums are eligible


     As with most financing programs, certain restrictions do apply.  Please contact me to see how my APMC CORE JUMBO Program can prove beneficial to you and to seek a customized review of your personal financial scenario ... State restrictions do apply...

    

http://www.genemundt.com/ContactUs.aspx


  *  Hoping to Buy, Build, or Refinance a home in the Chicagoland area?  Contact Me today!  I'll put my 37 years of mortgage experience and expertise hard to work on your behalf.
     I can be easily found at:

Direct:   815.524.2280
Cell/Text:  708.921.6331
eFax: 815.524.2281

 

https://1609956119.secure-loancenter.com/FreeConsult.aspx
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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

 

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Topic:
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Location:
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Groups:
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Chicago Area Real Estate BUZZ!
Chicagoland and Northern Illinois Real Estate
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Tags:
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arm loans
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highend properties
luxury housing
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Rainmaker
633,946
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Only 10.1% down, that IS good news!

Nov 21, 2014 04:10 AM #1
Rainmaker
1,229,941
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Kathleen Luiten ... I'm thinking it will be helpful to many.  Thanks for commenting.  It's appreciated ...

Gene

Nov 21, 2014 05:03 AM #2
Rainmaker
1,355,289
Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

You are quite correct.  there are a lot of good programs out there for jumbo buyers.

Nov 21, 2014 06:31 AM #3
Ambassador
1,769,790
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I think this is great Gene. I always thought Jumbo customers were penalized unnecessarily.

Nov 21, 2014 10:41 AM #4
Rainmaker
2,257,153
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Gene. We have been fortunate to have a great jumbo produce for many years. Nice job with the information that you shared in your post.

Make it a great weekend!

Nov 21, 2014 06:25 PM #5
Rainmaker
1,229,941
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

More than ever before, Jeff!  True ...

That certainly has NOT been the case, as of late Noah Seidenberg.  For periods of time the rates available were lower than for non-Jumbo buyers.  Hope this info proves beneficial and useful to you ...

Gene 

Nov 22, 2014 12:06 AM #6
Rainmaker
1,229,941
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Joe Petrowsky ... I think many Lenders are updating and adding some benefits to their Jumbo programs right now, given the market for these products have increased.  Constantly tweaking and updating ...

Gene

Nov 22, 2014 12:07 AM #7
Rainmaker
1,535,246
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Excellent product! Glad things are loosening up slightly for the market & higher end buyers.

Nov 22, 2014 02:02 AM #8
Rainmaker
1,229,941
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

The healthiest markets are those representing a wide variety of prices, sizes, and styles.  Good to see that we're slowly returning to that better health ..

Hope you have a great Thanksgiving, Lyn Sims ...

Gene

Nov 22, 2014 09:57 AM #9
Rainmaker
4,085,454
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gene, that is great news for our jumbo borrowers, and should send a message to a few of my clients!  

Nov 22, 2014 11:56 PM #10
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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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