5% Down Jumbo Florida Mortgage Loan Financing Requirements
- 5% Down Payment & 95% loan to value for owner occupied.
- 15% Down Payment Investment Jumbo Mortgage Loans 65% loan to value.
- $3,000,000 maximum loan amount.
- $10,000,000 Super Jumbo Max loan amount.
- We offer competitive 15 & 30 Year Fixed and Adjustable Mortgage Rates.
Have you been turned down for a Florida Jumbo Mortgage loan because;
- You own too many properties.
- You have more than 10 properties with mortgages.
- Credit scores are a little too low.
- Foreclosure or a Bankruptcy over 4 years ago.
- Prior loan modifications.
Borrower Jumbo Requirements
- 760 minimum credit score
- 12 months reserves (borrower’s own funds)
- 35% maximum DTI
- Minimum down payment of 5% (must be borrower’s own funds)
- 95% LTV/CLTV on loan amounts up to $1 million without mortgage insurance on a 1 unit, owner occupied purchase or rate and term refinance.
If you don't meet the strict jumbo underwriting guidelines we can solve this by doing a conforming loan up to $424,100 and then do a Second Mortgage for the difference and this also eliminates the mortgage Insurance for Jumbo Mortgage Loans.
President Senior Loan Officer
First Florida Financial Group, LLC