10% Down Payment Florida Jumbo Mortgage Loan, Best Jumbo Mortgage 30 Year Fixed Rates


What is a Florida Jumbo Mortgage Loan?

A jumbo mortgage is a home loan for an amount that exceeds conforming loan limits established by Fannie Mae and Freddie Mac, who purchase loans from lenders. If a loan amount is higher than $453,100, then neither of the two government-sponsored entities will purchase the loan unless it's a Fannie Mae Jumbo Conventional High Balance Mortgage Loan. Both Fannie and Freddie buy the bulk of U.S. residential mortgages from banks and other lenders, freeing up liquidity to lend more mortgages.

What is a Fannie Mae Jumbo Conventional High Balance Mortgage Loan?

Fannie Mae Jumbo high balance mortgage loan allows home buyers and borrowers wanting to refinance their current mortgage and get a 30 year fixed rate conventional loan which is insured by Fannie Mae which allows you to avoid the strict underwriting requirements of a Jumbo mortgage.

What are the advantages of a Fannie Mae Jumbo Conventional High Balance Mortgage Loan?

  • 680 credit score versus 720 or higher.
  • Little or no reserves requirements versus 6 to 18 months.
  • 4-year bankruptcy waiting period versus 5 years or more.
  • 4-year short sale waiting period versus 5 years or more.
  • First time home buyers are allowed.
  • No minimum credit report tradeline requirements.
  • 30 year fixed rates versus an adjustable rate mortgage.
  • Underwriting requirements are less restrictive than a Florida jumbo mortgage loan.

What are the Loan requirements for getting a 10% down Florida Jumbo Mortgage loan?

  • 6 to 18 months reserves required.
  • Minimum credit score of 680.
  • Maximum DTI 43%.
  • Purchases, Rate/Term Refinances, Cash Out Refinances.
  • First Time Home-buyers permitted.
  • Florida properties only, Existing single-family homes and townhomes.
  • No prior foreclosure, short sale or bankruptcy last 4 years
  • Adjustable Rate Mortgage (3/1, 5/1, 7/1, 10/1 ARM) or fix rate 15, 20, 30-year terms with no PMI.
  • Single loan and 80-15 or 80-10 combo “piggyback” loan options available.

We offer the best Florida Jumbo Mortgage Rates, 30 Year Fixed Jumbo Rates & Adjustable Jumbo Mortgage Rates Available.

Have you been turned down for a Florida Jumbo Mortgage Loan Because;

  • Don't have enough credit report tradelines.
  • First time home buyer.
  • Credit scores a little too low.
  • Prior Foreclosure or Bankruptcy or loan modifications.
  • Prior mortgage late payments.
Can you get a Florida jumbo mortgage 10% down payment?

Yes, you can for a primary residence purchases!

Do you have to pay mortgage insurance on a 10% down Florida jumbo mortgage?

That depends on the jumble product some require it and some don't.
Not to worry we close these types of loans all the time, we know the Mortgage Business and can Close Easy, Complex and Tough Deals. We do this by utilizing our years of experience and "Outside The Box Thinking" to get buyers pre-approved for the maximum loan amount possible while keeping their down payment and closing costs as low as possible. 

If you don't meet the strict jumbo underwriting guidelines we can solve this by doing a conforming loan up to $453,100 and then provide you with a  Second Mortgage for the difference and this also eliminates the mortgage Insurance for Jumbo Mortgage Loans.

          

5% Down Payment Naples Florida Jumbo Mortgage Loans & 95% loan to value!

  • $529,000 max loan amount for Monroe County
  • $450,800 max loan amount for Collier County Florida
  • 660 Credit Score.
  • Seller Concessions 3% max
  • Gift Funds Allowed
We offer loans for the entire state of Florida and all of the following cities;
Monroe County and Dade County Florida Cities; Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Key West, Long Key, Marathon, Marathon Shores, Sugarloaf Shores, Summerland Key, and Tavernier
Collier County Florida Cities; Marco Island, Naples Golden Gate,
Lee County Florida Cities: Alva, Boca Grande, Bonita Springs, Buckingham, Captiva, Cape Coral, Fort Myers, Fort Myers Beach, Lehigh Acres, Sanibel.
Jacksonville, Tampa, Saint Petersburg, Hialeah, Orlando, Fort Lauderdale, Tallahassee, Hollywood, Pembroke Pines, Miami, Palm Beach, West Palm Beach, Boca Raton, Miramar, Sarasota, Gainesville, Bradenton

Monroe County Florida Cities; Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Key West, Long Key, Marathon, Marathon Shores, Sugarloaf Shores, Summerland Key, and Tavernier

Collier County Florida Cities; Marco Island, Naples.

Lee County Florida Cities: Alva, Boca Grande, Bonita Springs, Buckingham, Captiva, Cape Coral, Fort Myers, Fort Myers Beach, Lehigh Acres,Sanibel.

Jacksonville, Tampa, Saint Petersburg, Hialeah, Orlando, Fort Lauderdale, Tallahassee, Hollywood, Pembroke Pines.
Got A Question?

Thanks and we look forward to working with you on your mortgage needs!

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