Super Jumbo Mortgage with NO MAX Cash Out - Up to $5M Loan Amount

[AJ Wong]

Most mortgage investors have a maximum amount of cash in hand for Jumbo Loans of $500K- $1M, some will limit a borrower to $1-2M cash in hand above and beyond their existing mortgage balance (if they have one.)

For a recent borrower looking for MAX cash out and MAX LTV on a luxury SFR (we can go 2-4 units) we were reminded of just how restrictive Super Jumbo Mortgage guidelines can be and how rare it is to find a nationwide lender willing to provide cash in hand up to the maximum loan amount.

For O/O Super Jumbo Mortgage we can generally go up to 80% LTV up to $2.5M. On a second home Super Jumbo Mortgage we can go to 80% to $1.5M and 75% to $2M and 75% on N/O/O up to $1.5M

So what about the real Super Jumbo Mortgages above $3M? 75%LTV on a primary and 65%LTV on a second home and 55% on an investment property.

For this particular investment property we're maxed at $5M at a 50%LTV with no MAX cash in hand! No early payoff penalty and amortized over 30 years. Full documentation income only but asset depletion is acceptable.

Need a Super Jumbo Mortgage cash out refinance with no cash in hand limitations? Our team might have the product for you..

Anthony AJ Wong

Nationwide Mortgage Bankers

NMLS ID 2297941