California jumbo loan mortgage southern
Infinity Financial Services, LLC offers a full range of non-conforming and conventional conforming home loans, including fixed and adjustable rate mortgage loan products, balloon products, and even interest-only programs to meet the purchase or refinance needs of our borrowers. For larger mortgage loan amounts, we have jumbo mortgage loans up to $2,000,000.
What is a Jumbo Loan?
A mortgage loan that exceeds the conforming mortgage loan amount of $400,000. Remember, this is the mortgage loan amount...not the value of the house. If you will be borrowing less than $400,000.We understand the needs of the "jumbo borrower" and offer a wide range of mortgage loan products to ensure we meet all of your mortgage loan needs. You can expect fast, professional service from a Mortgage Specialist with years of experience. Your Mortgage Specialist will explain all of your mortgage loan options and keep you updated every step of the way. Call us today! We look forward to speaking with you about your mortgage loan needs. Below you will find a list of Jumbo loan options that you may or may not be aware of. If you have heard of a mortgage loan option that we do not have listed here, just give us a call, chances are good that we have it.
Jumbo Loan Options:
(Most of these options are also available on loan amounts below $400,000)
Reduced Documentation Loans
Minimum 15% down payment on purchase
Salaried or Self-Employed borrowers
Income and Employment stated - but not verified
Primary residence or second home
15, 20, 30 year fixed rate, 1-year Treasury ARM
No Ratio Test Loan
Minimum 5% down payment on purchase
Good credit required
No calculation of debt or income ratios
No income disclosure or verification
Salaried or Self-Employed borrowers
Primary residence or second home
15 and 30 year fixed rate, 1-year Treasury ARM
No Income/No Asset Loan
Minimum 25% down payment on purchase
Excellent credit required
No income or employment verification
Salaried or Self Employed
15 and 30 year fixed rate, 1-year Treasury ARM
Primary Residence
Expanded Exception Program
Minimum 5% down payment on purchase
Excellent credit required
Maximun required debt to income ratio 50%
30 year fixed rate
Primary Residence, second home and investment property
Condominiums
Second or Vacation Homes
Minimum 10% down payment on purchase
15, 20, 25, and 30 year fixed rate
Reduced Documentation Programs available
Investment Property
Minimum 10% down payment on purchase
15, 20 and 30 year fixed rate
Reduced Documentation Programs available
Foreign National
Minimum 20% down payment on purchase
Salaried or Self-Employed
15 and 30 year fixed rate, 1-year Treasury ARM
Primary residence, second home, investment property, 2-4 unit property
Borrower must have social security number
Balloon or Two-Step Mortgages - These are fixed rate loans that generally have a 5 year or 7 year fixed rate period. At the end of the fixed rate period, These loans will have a balloon, or final payment provision, or have a lender-opted conversion to a new fixed rate for the remaining 25 or 23 year term. Certain criteria must be met on a two-step loan for the lender to grant a new term at a new interest rate. It is likely that the conversion feature on the two-step loan is not valuable to borrowers since the conversion rate is slightly higher than what they could refinance their loan for on the open market
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