Jumbo 2-4 unit @ 75% LTV - Conventional
One of the mortgage absurdities that real estate investors face in high cost of living & high appreciation markets like San Francisco, San Diego, Los Angeles, Oakland, etc, is that they are suddenly told that 25% down isn't good enough if the property they are buying is too valuable!
If you face that challenge, we've now got the solution with our 75% LTV Jumbo investment property product-line.
- Landlord experience? We have programs that do and do not require this.
- Beat up property? Escrow holdbacks available, depending on scenario and condition of the property, in order to allow you to bypass the hard money loan.
- Cash out options available.
- 30YF and ARMs available.
- HELOC for the down payment? Sure, why not.
- Various other niche flexibilities, such as - using one example from each end of the spectrum - (1) in very narrow cases and for exceptionally well qualified borrowers, 80% LTV on SFR and duplex investment properties expensive enough to require jumbo loans, and (2) certain jumbo loan programs that will entertain FICOs below 680 with strong compensating factors.
- Various non-Fannie/Freddie self employment income calculations available for jumbo loans.
- Super jumbo loan amounts up into the $5m range, but 75% LTV no longer available for investment properties.
Not all scenarios will work @ 75% LTV, obviously. Various restrictions apply.
Please call or email for more information. California real estate only, please.
Setting expectations: The more niche what you are looking for is, the earlier in the process/conversation I'll insist on paperwork, because there are currently no stated income / stated credit / stated asset loan programs outside of hard money.
Here are some other things we've talked about in the past:
- Hard money with less than 1 discount point, cashflow based.
- Bank statements for income instead of tax returns, for owner occupants, up to 90% LTV. I didn't mention it at the time, but the bank statements thing goes up well north of $1.5m too.
- A legal alternative to "subject to" and wholesaling that still allows you to avoid a down payment.
Equal housing lender. This is not a commitment to lend or extend credit. Restrictions may apply. Rates may not be available at time of application. Information and/or data are subject to change without notice. All loans are subject to credit approval. Not all loans or products are available in all states. Bay Equity LLC, 28 Liberty Ship Way Suite 2800, Sausalito CA 94965.