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Cal Ram
64 Posts |
 Posted - 11/04/2009 : 08:16:42 AM
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625k purchase, 100k cash down
so 525k jumbo at 85%. That is doable, but at a 30 year fixed 5.375%?
I looked at Ing, Suntrust,US Bank to nae a few. Most programs are 75% ltv, not 85, and many are in the 6's on a 30 year if they would go 85% |
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lemeuss
1862 Posts |
Posted - 11/04/2009 : 08:18:40 AM
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Everything I'm seeing today is also in the low 6's for 30 yr.
5/1 ARM is where it's at for Jumbo |
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Cal Ram
64 Posts |
Posted - 11/04/2009 : 08:27:52 AM
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| exactly that is what I found. |
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nowbroker
2588 Posts |
Posted - 11/04/2009 : 08:40:12 AM
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| Wa Fed will go to 90% at 5.5% but the loan amount is capped at $500k, jumps to 5.75% over $500k up to 600K |
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lover05
25 Posts |
Posted - 11/04/2009 : 11:56:59 AM
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Hi Juan J
Hi Ram.
What county is this in and what fico
thanks
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Cal Ram
64 Posts |
Posted - 11/04/2009 : 1:23:06 PM
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| it is Denver, and 801 fico, it is not elegible for any of the conforming jumbo products |
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paulyswans
41 Posts |
Posted - 11/04/2009 : 5:52:14 PM
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I am literally in the middle of helping my brother in law negotiate a similar loan. He is working with a lender in New Jersey, so I don't know where you are or if they would do this outside of the state, but here's what he's got:
80% Loan at $800,000 ($1 million purchase price with ratified contract already)
5.375% 30 year fixed with 0 points.
Originally the bank offered 5.375% with 1 point, but they've negotiated down to 0 points at the same rate. My brother-in-law also is doing a no-income loan with them, but he's got upwards of $2 million in assets, to offset. Not sure if your buyer has the same. Lemme know if I can help. The deal isn't finalized yet, but should be tomorrow.
quote:
Originally posted by Cal Ram
625k purchase, 100k cash down
so 525k jumbo at 85%. That is doable, but at a 30 year fixed 5.375%?
I looked at Ing, Suntrust,US Bank to nae a few. Most programs are 75% ltv, not 85, and many are in the 6's on a 30 year if they would go 85%
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