Have you PRICED OUT MOTIVE on a big one yet? Heard just yesterday our pricing from Friday was over 7 eighths better than competition from a Broker in FL..
MOTIVE-ATED about a BRAND NEW 30 YEAR FIX JUMBO that was just added to the mix.
JUMBO GUIDELINE TIPS OF THE DAY!
*Combine a 1st and 2nd loan together as a RATE AND TERM transaction not cash-out. Any loan above 417,001 you can do a JUMBO product to accomplish this. The junior lien must be seasoned for 12 months with no draw greater than 2k.
*DID you know you can do a NON OCCUPIED CO BORROWER ON A JUMBO?
*Over 500k cash in allowed (LTV restriction to 65% LTV)
*TWO APPRAISALS NEEDED ONLY ON LOANS OVER 1.5 MILLION
*GIFTS ARE ACCEPTED up to 1 MILLION
*Reserves of only 6 months needed on JUMBO less than 1 Million. 12 months needed with all 1 Million + loan amounts and goes up incrementally to max loan amounts.
*FIRST TIME HOME BUYERS ARE ALLOWED ON JUMBO
*JUMBO allows FORECLOSURES/BK’s/Modifications if exceeding 7 years. Additional conditions apply. See matrix.
*DELAYED FINANCING RULE IS ALLOWED for those that wish to take cash out on a jumbo loan within the first 6 months of owning free and clear. (bought outright)
THE MORTGAGE JUICEMAN HERE TO GIVE YOU ANGLES TO GET LOANS DONE!