At 1st Florida lending Corp. We offer 95% LTV Jumbo loans for primary home purchases with rates starting in the 4’sMany home buyers are unaware they can obtain Jumbo financing without a 20% down payment. The 95% LTV down options not only apply to Jumbo purchase transactions but can also to some Jumbo refinance loans. A jumbo home mortgage is a loan that exceeds the conforming (conventional) loan limits standardized by Fannie Mae & Freddie Mac (the government-sponsored agencies that purchase loans from lenders and banks) Our Jumbo land Super Jumbo loans are ideal for home buyers looking for higher priced luxury homes. These loans are designed to simplify home buying in pricey markets by covering the full cost of the loan, so there is no need for borrowers to drain their cash reserves. Jumbo Loans are like conventional mortgages in that we offer both fixed and adjustable programs. The interest rates start in the 4’s but are higher if you choose the 95% LTV due to the added risk.
1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all of Florida offering over 48 loans programs including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone (800) 655-1345 * (407) 300-2558 * Fax (877) 401-9955We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.
Full Doc using Income from Tax Returns•Maximum loan amount $7,000,000•up to 95% LTV on Purchases / 85% LTV Cash-out•No MI & Pre- Payment Penalty
Self-Employed - 12 -24 month Bank Statements •Maximum loan amount $7,000,000•up to 90% LTV on Purchases •No MI & Pre- Payment Penalty
No obligation and we don’t pull your credit
To find out more information about our JUMBO LOAN PROGRAM. Please call us us at 407-300-2558 or click the button below to request a quick quote with rates and terms.
Sample Jumbo Loan Program Scenarios
FREQUENTLY ASKED QUESTIONS Question: CanIpurchaseacondowiththeJumboloan.Answer: Yes, most condos are eligible for Jumbo financing. Question: Can Doctors and Physicians use the 95% financing option? Answer: Yes any home buyer that meets the qualification guidelines is welcome to apply regardless of occupation. Question: Can I get a fixed rate term? I really don’t want to get an adjustable rate . Answer: Yes, the Jumbo programs offer both the fixed rate and adjustable (ARM) rate 5/1, 7/1 or 30 fixed. Question: I’m a veteran, can I get a VA Jumbo Loan? Answer: Yes, VA has high balance jumbo loans up to 1.5 million. Question: Does the Jumbo program have a penalty or paying off the loan early? Answer: No, you can pay off your loan anytime you like without a pre-payment penalty.Question: What kind of savings do I need to have in order to get approved? Answer: It really depends on the loan amount and credit. For example, a loan amount of $1,000,000 depending on the program may require that you provide proof of 3 months reserves to show underwriting that you have the ability to pay the mortgage payment, insurance and taxes for that time period in the event of a financial set back. For higher loan amounts you may be required to prove additional reserves. Saving accounts, 401K or IRA may be utilized as proof to satisfy the reserve requirements.
Florida’s Top Rated Mortgage Lender I We are Not Brokers
Over 48 Programs I No Brokers Fees I No Lender Fees
For Loan Inquires Call 800-856-7097 or 800-655-1345
Investment (non-owner Occupied Rental Income •Maximum loan amount $15,000,000•up to 75% LTV / Rates starting (request quote) •No MI & Pre- Payment Penalty •Rates start in the 5’s•Close in 10 to 14 days