FYI, in our banking bake-off, most mortgagers had:
$625k is conforming loan
$625-999k is jumbo loan
$1m+ is super jumbo loan

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?

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

We had a jumbo and ours required 2 appraisals.

Anonymous wrote:No, not for super jumbos. And super jumbos over $1m need two appraisals.

Negative, it's $1.5M that needs two appraisals

No, not for super jumbos. And super jumbos over $1m need two appraisals.

Ps that was almost a year ago so that's why 3.875 is outdated number

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

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.