20% Down Payment Florida Jumbo Mortgage Financing Loans & Best 30 Year Fixed Rates

20% Down Payment Florida Jumbo Mortgage on Single Family Residences and Condos

What is a Florida Jumbo Mortgage Loan?

A loan that is above conventional conforming loan limits is called a jumbo loan. This limit is set 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 that loan. Typically, 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 are the requirements for getting a 20% Down Payment Jumbo loan?

  • Minimum credit score of 620.
  • Maximum DTI 43%.
  • Purchases, Rate/Term Refinances and Cash Out Refinances.
  • First Time Home-buyers permitted.
  • Florida properties only.
  • No prior foreclosure, short sale or bankruptcy last 4 years

What if you don't qualify for a jumbo loan?

If you don't meet the strict jumbo mortgage underwriting requirements then we can solve this by doing a Fannie Mae Jumbo high balance mortgage loan up to a $679,650 loan amount and if necessary we can do a Second Mortgage loan.

What is a Fannie Mae Jumbo Mortgage?

Fannie Mae Jumbo Mortgage loan allows home buyers to purchase their dream home or refinance your 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.

Have you been turned down for a Florida Jumbo Loan Because

  • Don't have enough credit trade lines.
  • First time home buyer.
  • Credit scores are a little too low.
  • Prior Foreclosure or Bankruptcy or loan modifications.
  • Prior mortgage late payments.
  • Not enough Reserves.

Not to worry we close these types of loans all the time, we know the Jumbo 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.