Jumbo – draft

HELPING MORE JUMBO BORROWERS

Introducing a Better Jumbo Loan!

Here are some highlights of the program.

Up to 95% LTV

Jumbo mortgages to 95% loan to value up to $2 million or 90% loan to value up to $3 million.  Mortgage insurance is never required.

Easier Guidelines

Recent bankruptcies, short sales, or foreclosures may be acceptable.  Bank statement deposits can count as income.

Cash Out Refinances

We allow for jumbo cash out refinances up to 95% loan to value with no mortgage insurance.

Asset Depletion

Liquid assets such as bank accounts, 401(k), and brokerage accounts can be used as income for qualifying purposes.

Fast Closings

Average closing times are 30 days or less from the date of underwriting submission.

Occupancy Types

In addition to primary residences, we provide jumbo mortgages for second homes with only 5% down.

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Find out more information about jumbo mortgage loans, brought to you by Bank of England Mortgage.

EASIER QUALIFICATIONS

Helping More Jumbo Borrowers Qualify.

Not all people meet the strict qualifying criteria for jumbo mortgages.  We provide flexibility with a low minimum 5% down payment on our jumbo loans up to $2 million. Additionally, we offer jumbo mortgages with credit scores as low as 580 and allow for previous derogatory credit.  In many cases, the net income shown on tax returns can prevent someone who is self-employed from being able to obtain a jumbo mortgage for a purchase or refinance. For our self-employed jumbo mortgage borrowers, we can allow deposits into personal or business bank statements to count as qualifying income, without the need to provide tax returns.

LIQUID ASSETS COUNT

Qualifying With Liquid Assets.

We allow for “asset depletion”, whereby a formula is used to take a borrower’s liquid assets to count as qualifying income.  Additionally, we will even provide jumbo loans without documenting tax returns, employment or income as long as a borrower has enough in the bank, stocks, and retirement accounts to cover the loan amount.