Investment Property Jumbo Mortgage with Low Down Payment

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

Investment Property Jumbo Mortgage with Low Down Payment

 

Since I'm in California, and property values where I live and work tend to be on the, shall we say, higher side, residential real estate investors --- those looking to purchase a home of 1- to 4-units to be used as an income-producing property --- can sometimes be limited in their attractive jumbo mortgage options.  This is especially true if they are looking to keep their down payment as low as possible.  Many potential rental property buyers are told flat out that even a 20% down payment is California dreamin', and that a jumbo loan on a duplex or triplex, for example, requires a 30 or even 35% down payment.  So in addition to being known for good vibrations and sun, let's talk about our proclivity for innovation and examine some of our low down payment jumbo mortgage programs specifically catered to investment properties.

 

15% Down Payment

For a property of 1 to 4 units, we'll lend up to $1,000,000 at a loan-to-value (LTV) of 85%.  This implies a max purchase price of about $1,175,000 at the highest LTV.  There is no PMI on this loan.

 

20% Down Payment

For a property of 1 to 4 units, we'll lend up to $1,500,000 at a loan-to-value (LTV) of 80%.  This implies a max purchase price of $1,875,000 at the highest LTV.  

 

25% Down Payment

For a property of 1 to 4 units, we'll lend up to $2,500,000 at a loan-to-value (LTV) of 75%.  This implies a max purchase price of approximately $3,300,000 at the highest LTV.  

 

Investing in real estate can be elusive where the property values are expensive and where the buyer doesn't have 30% or more to put down.  But we strive to lead the market with loan options that can turn buyers into landlords with even half of what they may have expected to invest at the start.  Further, because of the capacity to accommodate multi-unit properties, some of these lower down payment programs can and do cash flow from Day 1.  If you are on the cusp of making your first rental property purchase, get in touch any time and I'll be happy to review your options with you.

 

New lease on life, 

 

 

Robert J. Spinosa
Vice President of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 
rob.spinosa@rate.com

 

Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960

Berkeley Office:  1400 Shattuck Ave., Suite 1, Berkeley, CA  94709
 

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.

 

Guaranteed Rate. Illinois Residential Mortgage Licensee NMLS License #2611 3940 N. Ravenswood ChicagoIL 60613 - (866) 934-7283

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
California Solano County Vallejo
Groups:
Realtors®
San Francisco Real Estate
Oakland Real Estate
San Jose Real Estate
southern california real estate agents
Tags:
investment
rental
investor
property
home loan
down payment
jumbo
real estate
mortgage

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

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

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

Rainmaker
533,576

Rob Spinosa

Vice President of Mortgage Lending, Marin County
Can I Get a Jumbo Loan with 10% Down?
*
*
*
*
Spam prevention

Additional Information