90% No MI Jumbo Loan

We offer 90% no monthly mortgage insurance on Jumbo loans with fico scores as low as 660. Our maximum loan amount is $3,000,000 on the 90% no mi Jumbo loan program. The 90% no mi Jumbo loan is available on primary residence, second homes, and investment homes. We offer both fixed and arm products.

Futhermore, borrowers need 6 months reserves for each financed property on a fixed rate product and 3 months reserve requirements on the arm product.   However, guidelines change frequently so make sure you call in for the latest guidelines at 602-358-8717.

5% Down Jumbo Loan?

Yep!  We have it.  However,  you need 9 months worth of reserve requirements, a high fico score and a lower debt to income.  Because guidelines change frequently on this program, please call in for more information.

How Do I Start The Process?

Give us a call at your convenience.  We will then ask you to fill out a loan application, where we have to pull your credit, verify your income, and your assets.  We will then run your loan through Fannie Mae’s dekstop originator system for a preapproval or through Freddie Mac’s loan prospector system.  From there a loan amount approval will be determined.  We will then you a loan prequal letter which you can show to your real estate agent so that they will take you out to find a new home.

What if my credit report shows some credit issues?

No problem.  We will talk you through different items on your credit report and help make some recommendations that will help put you in a new home as soon as possible.  Alot of people carry high credit card debt.  Many of them carry credit card debt that exceeds 50% of their available limit.  Do you know that just by paying down your balances below 50% can help raise your fico scores.  Even better trying paying off your credit cards every single month.

When you use your credit cards but then pay off the entire balance when it’s due you are showing the creditors that you are an A + borrower.  As a result, they score you as an A + borrower.  That means clients will typically see fico scores that range anywhere from 720 or higher.  The exact number of your fico score is determined by how many cards you have, your current balances on the cards, how often you use the cards, and a few other factors.  However, most importantly, always pay your credit card debt each month by your credit card statement due date if at all possible.


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