Jumbo Home Mortgage Loans

Dan, the Jumbo Loan Man.

Over the last 23-years, I have helped over 1000 families buy or refinance their properties. Jumbo Loans are strange animals with guidelines that are much different than regular loans, so you don’t want some rookie OR “big bank” Loan Officer screwing it up. Be assured that when I sign my name to a pre-approval, I have thoroughly reviewed your file. I am a former Firefighter/Paramedic and still carry the honesty and straight-forward attitude the fire service is know for.

Jumbo loans aka jumbo mortgages have become very popular among homebuyers and real estate investors, especially since housing prices have risen. These large mortgage loans are designed for those who require financing for high-value properties that fall outside of the conforming loan limits set by Fannie Mae and Freddie Mac. Jumbo loans are often referred to as high-balance, non-conventional or oversized loans.

For luxury home buyers and high-end real estate investors, jumbo mortgage loans are a great option. Additionally, jumbo loans often come with a variety of features, such as flexible terms, low down payments, and no PMI in many cases. If you’re looking for a loan or mortgage to finance a high-value property, consider jumbo loans.

Current Jumbo Products

*Minimum credit scores vary but typically you need at least a 660 minimum middle score.

* Part of the down payment can possibly be a gift from a relative but borrower must have some of their own money.

* 3-12 months (depending on loan amount) of the new payment amount must be in one of your accounts at close of escrow. “Reserves” can be held in a bank, stock, or retirement account.

Assets for Reserves:

* You get credit for 100% of cash and cash equivalents, such as bank accounts
* You get credit for 70% of face value of for non-retirement asset accounts
* You get credit for 60% of retirement assets if Applicant is under 59.5, 70% if over

DTI (debt to income) Ratio – Standard max is 43%. DTI’s greater than 43% and up to 50% may be considered.

Borrower Eligibility: Only U.S. Citizens and Permanent Resident Aliens

Property Flipping – A property flip occurs when the seller acquired the property within 180 days. This is case by case so ask me about this.

16-person hot tub at Falcons Nest in MacDonald Highlands

**** Bank Statement Loans are available with 10% down for those who write-off a bunch of stuff on their tax returns but have good cash flow.

**** Renovation loans and Foreign buyer/ITIN loans are available.

  • Jumbo loans, Jumbo mortgage, Jumbo loan rates are typically higher than regular loans, Jumbo loan requirements, Jumbo loan specialist, No PMI jumbo loans are available, Piggyback loans, Jumbo loan credit score minimum is in the mid 600’s, Jumbo loan reserves, Jumbo loan debt to income ratio is typically 43% but can go higher in many cases, Jumbo loans for self-employed are available, Jumbo loans for business owners are available.

Confidential, secure and discrete application process.

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Dan Sherbondy
Senior Loan Officer
All Western Mortgage
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text every day
DSherbondy@AllWestern.com

Equal Housing Opportunity

Dan’s Licensing: NV MLD 45649, CA-DBO313289, CO-100516554  NMLS 313289
All Western Mortgage, 8345 W Sunset Rd Ste 380. Las Vegas, NV 89113
702-326-7469- TALK OR TEXT | | 702.369.0905 – Switchboard (Ask for Dan)

Company NMLS# 14210, NV Division of Mortgage Lending Lic# 204, CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate.