The Great Loan
So Who Handles Multi Million Dollar Mortgage Loan Financing?
$1MM to $1.5 Million Mortgage loan programs have some availability in the broader markets, however $2MM to $40 Million Mortgage loan products are almost exclusively the province of super jumbo mortgage specialists. Often drawn from the investment banking and hedge fund industries, these private firms handle the overwhelming majority of real estate financing for high net worth / high income borrowers. By bypassing the traditional lenders and banks and going straight to the underlying investors on Wall Street and otherwise, these private mortgage bankers and real estate financiers are capable of orchestrating complex transactions with significantly higher loan to value ratios than would otherwise be possible. A few are even able to allow 70%, 80%, 90% and even 100% financing (no money down) on $2MM to $40+ Million Mortgage Loans, by allowing you to use income producing assets which you retain control of in lieu of a down payment.
$1MM to $40 Million Mortgage Loan programs are available to borrowers in the following states:
Million Dollar Mortgages are available for the high net worth borrowers such as, but not limited to business executives, celebrities, professional sports stars, etc.
The average interest rates on jumbo mortgages are typically greater than is normal for conforming mortgages, and vary depending on property types and mortgage amount.
Loans over a 1 million dollars or super jumbo loans may require more verifications than smaller loan amounts. The higher the loan amount the higher the risk. More reserves may be required as well as higher fico scores.
1 Mil or 40 Million most lenders want to see liquid assets. Although, in some cases gift funds from a family member are acceptable.
One reason lenders prefer to have a higher down payment from jumbo loan seekers is the higher risk involved. Jumbo home prices can be more subjective and not as easily sold to a mainstream borrower, therefore many lenders may require two appraisals on a jumbo mortgage loan.
When you are looking for a great deal on your next jumbo mortgage or super jumbo loan, look no further. Our wholesale investors grant us access to some of the best jumbo mortgage rates on the National market. The term jumbo mortgage loan refers to any loan that is higher that the maximum dollar amount established in Fannie Mae and Freddie Mac’s guidelines. At this time, any loan for a single family property greater than $417,000 is considered a jumbo loan. The limits increase to $533,850 for two-unit properties, $645,300 for triplexes and $801,950 for 4-unit homes. There are also some areas of the Country where the limits are higher including Alaska and Hawaii. Loans that exceed $1mm+ are typically considered super jumbo loans. Give us a call today at 877-88GREAT (877-884-7328) or request a free rate quote.
When you are looking for a great deal on your next jumbo mortgage or jumbo loan, look no further than www.thegreatloan.com. Our wholesale investors grant us access to some of the best jumbo mortgage rates on the National market. The term jumbo loan refers to any loan that is higher that the maximum dollar amount established in Fannie Mae and Freddie Mac’s guidelines. At this time, any loan for a single family property greater than $417,000 is considered a jumbo loan. The limits increase to $533,850 for two-unit properties, $645,300 for triplexes and $801,950 for 4-unit homes. There are also some areas of the Country where the limits are higher including Alaska and Hawaii. Loans that exceed $1mm+ are typically considered super jumbo loans. Give us a call today at 877-88GREAT (877-884-7328) or request a free personal quick jumbo mortgage rate quote.
Jumbo mortgages are used to purchase or refinance luxury homes that require larger than normal loans. While they’re convenient, they also have slightly higher interest rates than government subsidized loans. Since the dollar amount that defines a jumbo mortgage is redefined each year, it’s subject to change.
Bigger isn’t always better, especially when it comes to home mortgages. The term “jumbo” mortgage applies to loans for exceptionally high dollar amounts. Each year, Fannie Mae (FNMA) and Freddie Mac (FHLMC), the government-affiliated agencies that market mortgages within the U.S., define the point at which a traditional mortgage ends, and a jumbo begins. These types of loans are increasingly popular-and necessary-for buyers trying to borrow large amounts to purchase their homes.
It may not seem fair that higher mortgages are saddled with higher interest rates, but the economic logic behind it makes sense. Both FHMA and FHLMC purchase the bulk of U.S. residential mortgages, and then resell them to professional investors. They’re packaged together, and then traded on the market in a similar manner to the way stocks are traded on Wall Street. The FEDERAL RESERVE plays a large roll in this market. But a jumbo loan isn’t as easy as conventional loans to resell to investors, so the market for them is smaller. Currently jumbo loans represent about 10% of the total mortgage market. As a result, lenders typically charge more interest on these mortgages to help make them more profitable.
Jumbo Loan Highlights – Why choose to work with us?
- Great selection of jumbo 30Y fixed rate mortgage and adjustable rate programs.
- Jumbo Loan Interest Only ARM for clients looking for maximum cash-flow flexibility.
- Some of the best jumbo mortgage rates in the county – our clients have commented numerous times that we have the most competitive rates in the Country.
- Access to the rates and programs of a select group of the Nation’s premier wholesale investors.
- 90% mortgage financing up to $1,000,000
- Stated income jumbo loan programs up to $8,000,000 – ideal for self employed borrowers
- Limited documentation jumbo loan up to $1,000,000
- Apply in minutes using our online mortgage application
Exceptional Jumbo Mortgages Super Jumbo Loans
- 1 and 2 Year Jumbo Adjustable Rate Mortgage
- 15 Year Jumbo Loan
- 30 Year Jumbo Mortgage
- 30 Year Jumbo Mortgage Interest Only
