The Super Jumbo program is a specialty product for high-net-worth borrowers with solid, stable income and credit and considerable assets for down payment, closing costs and reserves. The collateral must be a prime real estate property within a prime real estate market.

Program features

• Loan Amounts > $3.5M to $5M
  
• 720 Min FICO for All Borrowers
  
• Max 70% LTV
  
• Max DTI 38%
  
• 0x30x24 Housing History
  
• Occupancy: Primary Residence
  
• 30-Year Fixed-Rate Mortgage or 40-Year Fixed I/O
  
• Purchase, Rate and Term and Cash-Out Refinance
  
• Max Cash Out $1.5M
  
• Income Documentation:
  – Full Doc (1 Year or 2 Years)
  – 24 Months Personal Bank Statements
  – 24 Months Business Bank Statements
  – Asset Utilization: Net Qualified Assets
  Divided by 84; 3 Months Asset Seasoning;
  No Reserves Are Required When Using
  Asset Utilization as Sole Source of Income
  
• Eligible Borrowers:
  – U.S. Citizens
  – Permanent Resident Aliens
  – Non-Permanent Resident Aliens
  (U.S. Credit Only)
  
• SFR, PUD (1 Unit) or Condo (Warrantable
  or Non-Warrantable)
  
• Gift Funds Allowed After 20% Contribution
  Toward Down Payment, Closing Costs, Prepaids
  and Reserves Are Met From Borrower’s Own Funds

Contact Us Today! To learn more and start offering these exceptional options to your clients!