JUMBO IS BACK IN A BIG WAY

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)

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THE MORTGAGE JUICEMAN HERE TO GIVE YOU ANGLES TO GET LOANS DONE!

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