Do 10% down super jumbo loans exist for the DC area?
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Anonymous
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Which banks do them?
It seems that I would rather put my 350k from my house sale into a higher yield shorter term investment and claim my mortgage interest. |
Anonymous
| I did a 80 (3.875), 10 (4), 10( down) with virginia commerce bank. Helped us get out of jumbo territory and rates are so low it hasn't mattered in terms of our payments |
Anonymous
| Ps that was almost a year ago so that's why 3.875 is outdated number |
Anonymous
| No, not for super jumbos. And super jumbos over $1m need two appraisals. |
Anonymous
Negative, it's $1.5M that needs two appraisals |
Anonymous
| We had a jumbo and ours required 2 appraisals. |
Anonymous
| We had luck with first place bank last year, we worked with nick pakulla. He was able to do a 625,500 first mortgage and a second for the difference. We were able to get a loan with no mi, process was fairly painless |
Anonymous
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Pnc, needs 25% down and two appraisals for $1m+ mortgages.
Never heard of 10% down for over $1m of mortgages on one property nowadays. You want pmi insurance then? |
Anonymous
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FYI, in our banking bake-off, most mortgagers had:
$625k is conforming loan $625-999k is jumbo loan $1m+ is super jumbo loan |