Flat Branch Home LoansJumbo Loan
Jumbo Loans Offered through Flat Branch Home Loans
Jumbo mortgages exceed the conforming loan limits of a conventional loan. A jumbo loan is any loan amount that exceeds $453,100. Flat Branch works with jumbo loans everyday and understands the unique guidelines that are always prevalent with this type of financing. It’s important to remember that borrowers interested in a jumbo loan need good credit standing, stable income and employment and verified income and assets.
Flat Branch Home Loans offers jumbo financing with very competitive rates and terms. From fixed rates to ARM products with terms varying from 15 to 30 years we have a great product available. Additionally, Flat Branch underwrites these products in-house and uses our own internal appraisal rotation. This type of control allows us to consistently deliver on consumer expectations and the deadlines that often follow.
Prime Jumbo Loans:
Within prime jumbo loans, fixed rates and adjustable rates are applicable. In regards to occupancy, primary residence, second home or investment are allowed. Transaction type can be in the form of purchase, cash-out or rate/term. Single family residence, condo, townhouse, property unit development and two unit are all eligible as property types depending on the occupancy. Loan amount, FICO and LTV/CLTV fluctuate in regards to the type of occupancy.
As a first-time homebuyer, you must meet the following criteria:
30 year fixed rate & 10/1 and 7/1 ARM
720 minimum credit score
Maximum loan amount is $1,000,000
Primary residence only
Minimum of 12 months reserves required
For more information about credit history, appraisal and reserve requirements and requirements for non-permanent resident aliens, non-occupant co-borrower and ineligible borrowers, please talk with your loan officer.
HLTV (High Loan-to-Value) Jumbo Loans:
HLTV jumbo loan can go up to 90% loan-to-value. This affords most borrowers looking for a jumbo product access to a low down payment option while at the same time avoiding having to pay monthly mortgage insurance. This product offers not only fixed rates but also several ARM choices as well. Options for occupancy include primary residence, second home or investment property.
First-Time Home Buyers permitted
661 minimum FICO credit score up to $1.5M at 80% LTV
680 minimum FICO credit score up to $1M at 90% LTV
Mortgage Insurance not required
15 & 30 Year Fixed
5/1, 7/1 & 10/1 ARM loans available
For more information about credit history, reserve and appraisal requirements, please talk with your loan officer. Our team of loan officers at Flat Branch Home Loans are ready to guide you through the home loan process. We understand the home loan journey can seem stressful, but we are here to make the process as smooth and affordable as possible. Talk with a loan officer today to see if you qualify for a jumbo loan with Flat Branch Home Loans.
Jumbo Loan Highlights
- Loan amounts exceeding $453,100
- All occupancy types accepted (primary, secondary & investment)
- Flexible loan terms
- Underwritten in-house at Flat Branch
- Fixed and ARM rates available
- Competitive rates and closing costs