Jumbo loans with 10% down have been a thing of the past. Buyers purchasing a home with a loan amount higher than the conforming loan limit ($424,100 in most cases) have been required to put at least 20% down for quite some time.
While 20% down is the ideal down payment for many buyers, there are situations that arise where 20% down payment may be the one thing keeping you from your dream home or may not be the smartest solution for your finances. The good news is that jumbo loans with 10% down payment are now available!
Jumbo Loans with 10% Down - Overview and Highlights
Jumbo loans up to 90% with No PMI
Loan amounts up to $1.5 million
30 year Fixed rate term available
In-House, delegated underwriting up to the $1.5 million loan amount
Close in 30 days or less!
Many buyers are still in the process of saving for down payment, which allows even more prospective buyers to finance jumbo loans with 10% down. For many others, they may funds available to put down but wonder if investing into their equity is the best use of their assets and savings. There are pros and cons of putting more/less money down, but below are a few reasons why people consider financing jumbo loans with 10% down.
Jumbo loans with 10% down can help you buy your dream home sooner. With home prices expected to rise, saving for the "ideal" down payment may or may not be worth the wait. Our team of jumbo loan specialists would love to help you find out your available options. Call us today, 972-499-0454