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pbaskett
44 Posts |
 Posted - 05/16/2008 : 11:21:46 PM
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| What lenders are still have programs for loans $1M and above? Primarily Utah properties. I have both full doc and siva borrowers. |
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sessa
65 Posts |
Posted - 05/22/2008 : 10:01:06 PM
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We can! In our network, there are a couple lenders who will do these. We are getting ready to close on 2 within the next couple of weeks. Of course, the fico needs to be at least 700, good income, debt ratio, etc. Send your contact info if this would be helpful.
55-899-2686
bigsi |
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KHufford
5998 Posts |
Posted - 05/22/2008 : 10:39:31 PM
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If you have a super jumbo that you cannot close through a conventional lender...I repeat CANNOT close conventionally, see my guidelines. We dont want to compete with typical banks or take your deals if they can be done through typical wholesale, but its a great program otherwise:
Mega Jumbo Residential loans up to $20MM+ available for High Net Worth individuals.
=================================================================
- Maximum Loan amount $20,000,000+
- Minimum Loan amount $1,000,000
- Primary, Secondary, Investment or Spec
- Purchase, Refinance or Construction
- Available in 50 States
- 5, 10 or 30 year fixed rate loans
- Interest rates are in the 5's to 7's
- No Prepay Penalties
- Interest Only is available
- Full Doc or Stated programs
- Max DTI is 45%
- Full doc usually needs 12 months PITI
- Stated need a net worth equal to or greater than loan amount
- 80% Max LTV
- Foreign Nationals OK with significant down payment
This is private lending, there is no rate sheet or hard guidelines. Everything is underwritten on an individual level. Assets, Net Worth and the ability to Cross-Collateralize (if necessary) are the most important characteristics of the borrower. Get your approval in 48 hours and close in 10 to 30 days.
Brokers protected, however you should be working directly with the borrower with no Broker Daisy Chains. If you are not direct, ask me about our referral program.
Document Checklist:
1. Copy of SSN, DL, signed 4506T
2. Appraisal
3. Fannie Mae File Exported
4. Executed Borrower Fee Agreement
5. Asset Statements (all pages, both sides)
6. Income Docs (2 years taxes or W2’s, 1099’s pay stubs, etc)
7. Current Mortgage Statements
8. Tri Merge Credit
9. Broker NCA agreement signed
Note: We need the above documents in order to submit your loan. Please help us and gather all the docs we will need. This will get us to closing that much faster.
Kyle S. Hufford
MJM Capital Group, LLC
D.480.628.1943 F. 602.224.4842
khufford@mjmcapitalgroup.com |
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nancy.mortgage
121 Posts |
Posted - 05/23/2008 : 06:37:22 AM
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| We have a product for super Jumbo residential in the range of $1.5 million to $50 million, purchase, refi, and construction. 12-24 months reserves required. Full, alt doc, and stated available if reserve requirements met. Can submit for prequal with 1003, tri merge, and 3 months bank statements. 5/1 interest only, no prepay. Fixed rates upon request if approved. No upfront fees for pre. |
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sessa
65 Posts |
Posted - 05/23/2008 : 3:01:09 PM
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Again, I made a call about your type loan questions. Again, we can do these.
bigsi |
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sfentress2
246 Posts |
Posted - 05/23/2008 : 3:07:04 PM
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| Again if you can do these deals give your info or the lender info. It seems shady and like you are spamming for business here. |
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KHufford
5998 Posts |
Posted - 05/23/2008 : 3:10:02 PM
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quote:
Originally posted by sfentress2
Again if you can do these deals give your info or the lender info. It seems shady and like you are spamming for business here.
Its all spam.
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