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Jumbo Mortgage

New Visitor

Jumbo Mortgage

I have recently relocted to an area where housing is more expensive than where I came from.  My husband and I are looking at a $640,000 home with 10% downpayment.  Husbands FICO's TU 681 Eq 660  Ex 706, mine TU 717  Eq 685  Ex 744.  Combined income $160000.00.  1 paid medical collection, no cc balances, 1 car pymt of $560.  Given the current credit crunch (esp. on Jumbo's) what are responable expectations for obtaining loan and rate?
Message 1 of 4
3 REPLIES
Moderator Emeritus

Re: Jumbo Mortgage

Is this verifiable W-2 income?
Willing/able to do FULL Documentation?

JUMBO rates just dipped under 7%

I would get with a broker or your bank and see what is available.

I am sure an Expert will jump in soon.
Message 2 of 4
Regular Contributor

Re: Jumbo Mortgage

Very good questions! The market is changing...

Timothy wrote:
Is this verifiable W-2 income?
Willing/able to do FULL Documentation?

JUMBO rates just dipped under 7%

I would get with a broker or your bank and see what is available.

I am sure an Expert will jump in soon.


Message 3 of 4
New Visitor

Re: Jumbo Mortgage

There is very few banks that are doing jumbos outthere now. What state is the house you are looking at? If can go full doc. There is a big chance that you will get a loan @ 90% ltv...Try Deutsche Bank.
Message 4 of 4