Updated almost 9 years ago on . Most recent reply
Jumbo Investor Mortgage in Nevada
Does anyone know of a lender who will do Jumbo Investor mortgages (> $424,100) with 20% to 30% down. I've checked several large lenders and they require 40% down. I'm specifically asking for Nevada, but any leads would be appreciated. Thanks!
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Fort Worth, TX
@Paul C. this one might be a challenge. It certainly will depend on the bank AND the loan amount AND your credit score, etc. Jumbo's get a little tricky but each bank will have some different requirements...some banks won't lend on investment Jumbo's at all. Everbank, for example, will require 40% down up to $850k but then 45% own at $851k+. It might be your best bet to reach out to mortgage brokers in the state that the property is in. They will have significantly more options for you and it will save you considerable amount of time on the phone searching. Try mortgage brokers and let us know what you find. Also, I'm assuming this property is not located in a high-cost county...meaning some counties in the US you can't even buy a home below $424k. So if it IS located in one of those counties then you can go over $424k and not be a Jumbo loan. Hope this helps.