Jumbo Loans Are Taking Off Again

Jumbo loans are those that are over the conforming loan limit offered by Fannie Mae and Freddie Mac, currently $417,000 as of 1-1-2015. Jumbo loans have typically required a larger down payment, higher credit scores and enhanced qualification requirements. In addition, rates on jumbo loans tend to be higher than conforming loans.

Clifton Mortgage Services, LLC offers a stong portfolio of Jumbo Mortgage financing programs. Featuring multiple programs designed to meet the needs of the Jumbo Mortgage home owner, our programs include 95% Loan to Value both Fixed and ARM with no mortgage insurance, loan amounts up to $10m, Second/Vacation Home programs, Investment Property programs, Ski Condo programs and credit score options begining at 660. Below we are proud to present a snapshot of some of our more popular and cutting edge jumbo programs.

Program Details:

• We offer Jumbo up to 95% Loan to Value on owner occupied homes!
• Second Homes/Vacation Homes to 80% LTV
• Investment Properties to 75% LTV
• Single Family, Town Homes, Condos, Condotels and Ski Condos Allowed
• Fixed Rate (30 year and 15 year) and ARMS (3/1, 5/1, 5/5, 7/1 and 10/1) available
• Interest Only options available for both Fixed and ARM programs
• Minimum Middle Credit Score of 660
• Debt to Income up to 43% Allowed
• Escrows (Taxes and Insurance) Required

Program Guidelines:

Jumbo program guidelines and requirements are rapidly changing, for more information, call us at our offices at 888-681-0777 or email us CLICK HERE

Documentation Requirements:

• All programs are full documentation
• 2 years personal and business returns
• 2 years W-2’s
• 2 current pay stubs
• 2 months asset statements
• Download a full Loan Documentation Checklist, Click Here

Current Standard Jumbo Lending Matrix

Effective as of 11-10-2015. Matrix based on purchase, single family home, owner occupied. All programs subject to change without notice. Please contact us for eligibility requirements and a custom rate quote.