Bill Meyers, Mortgage Loan Consultant                                                                Phone 239-566-8484 or toll free 877-994-9589
Marco Island FL 34145
    

 
            
         
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Friday, January 11, 2008

Jumbo Mortgages                                                                                                     

Jumbo mortgage loans are readily available, rates have increased as have down payment and credit score requirements but funds are available for borrowers with good credit.

The percentage of down payment varies with loan amount, documentation of income and credit score.  The following chart illustrates parameters for fixed and adjustable rate mortgages for purchase of a primary residence.  Investor loans are also available.   Certain high costs areas allow lower down payments. 

 

Verified Income
 
Loan Amount Loan Ratio Credit Score Loan ratio if auto-approved
$500,000 95% 620 95%
$650,000 90% 620 90%
$1,000,000 80% 620 90%
$1,500,000 70% 680 70%
$3,000,000 65% 700  

Stated Income (available for owner occupied only)
 
$2,000,000 50% 720  

Jumbo and conforming fixed rate loan rates

First mortgage equity lines of credit with no closing costs

 

 


Questions?  Call Bill Meyers toll free at  877-994-9589 or 239-566-8484 or e-mail bill@marcoislandmortgage.com

This website is not a solicitation for mortgage brokers
Rates vary with geographic location, lender, transaction type, credit scores and other factors
APR is abbreviation for annual percentage rate
Rates change frequently and these rates may not reflect the latest market conditions
Expressed interest rate may change or be unavailable at commitment or closing
Most rates based on primary residence, purchase transaction
Cash out refinance rates may be slightly higher
Some loans may have pre-payment penalties
Rates on some programs may require higher down payments
This is only a brief summary of rates and programs and possible fees, call for additional information on underwriting requirements
and program limitations.  Guidelines and rates posted here are general in nature and subject to change without notice. 
Rates must be locked by phone or in person.
Mortgage calculators are believed to be accurate but results are not guaranteed
All information published on this web site is believed to be accurate but cannot be guaranteed, errors may occur
This site has been built and is maintained by Bill Meyers

Bill Meyers is employed as a  mortgage loan consultant for one of the nation's largest residential lenders.  Bill works as an employee and not a mortgage broker.  This is Bill's personal web site and not the official web site of  any bank or mortgage company.  Please consider all information posted on this site to be general in nature and representative of mortgage rates and policies that may be available from various sources.  Bill is located on Marco Island Florida.  Bill can be reached on his cell phone at (239)566-8484


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