Jumbo Loans
What sets us apart:
- Our clients deal directly with an experienced local professional who specializes in closing jumbo loans in the Seattle - Bellevue area.
- We offer rates that beat the national average and have access to portfolio lenders which most brokers do not
- We never compromise on service and keep our clients informed throughout the entire transactions
- We provide personalized quotes for your specific property and credit criteria
- We keep costs to a minimum by providing no points options and we pride ourselves on honesty and transparency by disclosing fees upfront
- Private, Personalized, and Structured by Professionals
Understanding Jumbo Loans
A Jumbo Loan is a mortgage with a loan amount above the conforming loan limit. In greater Seattle area Jumbo Loans are loans above $417,000 or some cases above $567,000. Jumbo Loans have their own specific underwriting criteria separate from that of Fannie Mae or Freddie Mac. Jumbo Loans typically require a greater down payment during a purchase, likewise they have lower loan to value cap during a refinance as compared to standard loans.
Jumbo Loan Guidelines in the greater Seattle - Bellevue area
Be aware that Jumbo Loan guidelines are always changing and that every transaction is unique. The following is a generalized underwriting outline which is meant to help our clients understand the current Jumbo Loan market in the greater Seattle - Bellevue.
Jumbo Loans ($417,000 - $850,000)
- CLTV 75% or less (e.g. if property value is 1 Mil, you can get a loan for 700K or less)
- FICO Score 720 & Up
- DTI less than 35% (So if you make 10K/Month, your fixed expenses should be no more than $ 3500/month)
- No Bankruptcies
- No Late Payments
- Documented Income incl 2 years W2 or Partnership Returns.
Jumbo Loans between ($850,000 up to $5,000,000 Million)
- CLTV 50-65%
- FICO Score 720 & Up
- No Bankruptcies
- No Late Payments
- Documented Income include 2 years W2 or Partnership Returns
