Are there many low or no doc loans using a 90 percent LTV? The purchase price is about $2 mil and it will be owner occupied.
I know this is above the FHA limit which is creating a rate in the 5 percent (plus) range. The home is in San Diego county. I spoke to a company called MBanc but not sure of their reputation and whether they can execute.
Looking to do a ADU at some point on the same lot. Any guidance or references would be great.
@Jonathan Taylor any thoughts?
This would be case by case but some Jumbo lenders do allow 10% down. @Matt D. DM me and we can talk about options if this is possible.
@Matt D. ..while 90% is attainable in the Jumbo space, you can do low doc at 80% on owner occupied (no income, no employment, no DTI). Why do you need to go limited documentation would be my first question. What's the issue with qualification besides light down payment??