Who is giving out killer rates right now on jumbo loans?

Question

Who is giving out killer rates right now on jumbo loans? Anyone can refer me to someone? What was your rate? Was it recent? Any creative programs out there? I am in Florida.

Melvin List · Answer

@Jill Davis He Jill I hope you are dong well. Let me know if you need some information on this.

AJ Wong · Answer

Check in with @Joseph Chiofalo they do a lot of low LTV jumbo investment and second home loans for us.

Anastasia G. · Answer

@Jill Davis

Typically banks (depository institutions) are most competitive with jumbo since these programs are typically portfolio products. The drawback you have to fit "in the box"; 20% down +, excessive reserves requirement, specific restrictions on tradelines, assets guidelines, DTI under 43%, owner occupancy etc.. if you are open to ARMs you will have a bit more options..Also need to consider the type of property - if condo/condotel banks might not finance at all.. there are many factors to consider

we do have some good outlets for jumbo, would be happy to review your scenario and give you a quote.

Jill Davis · Answer

I would love the referral. Thank you!

Andrew Garcia · Answer

Hi @Jill Davis, I can refer you to a lender that can still do some jumbos in the 4s. Granted, that is for people that have perfect credit, putting down a large down payment, lower DTI, etc. Your rate would likely be in the 5s if you do not check all the boxes.

Since you seem so adamant on rate, you might want to get an ARM. They will provide a lower initial rate compared to a fixed-rate mortgage.

Also, a little insider secret here. If you have millions of dollars in assets with a bank and are a private banking client, they will likely take a loss on your jumbo mortgage and give you a killer rate to keep your assets with them. If this applies to you, I urge you to take that route.

Hope this helps! Let me know if I can be of any assistance.

Who is giving out killer rates right now on jumbo loans?

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