10% down with a jumbo mortgage
Does anyone know of a lender who will work with us on getting a jumbo loan with 10% down. It is on Emerald Coast in FL. Price is 1.3M and would love to only put 10% down. A previous agent (3 years ago, in Oregon) talked about "a second mortgage that we can combine with either a jumbo or conforming first mortgage for aggregate financing of 90%." Does anyone still do this? We could definitely afford that. Or even a simple jumbo loan w/ only 10% down. We have excellent credit and a low DTI. I really don't want to have to go through the process of getting a loan from the equity in my business because of time and cash required for a commercial appraisal. Any ideas? We are going to make an offer with owner financing but because there are probably going to be many offers on this listing, want to have another option for them to consider. Thanks in advance for any input/advice.