High Balance / Jumbo Loans

COVID-19 UPDATE: Many Jumbo loan products have been suspended but I still have a 10% down Jumbo up to a $900,000 loan amount, 15% down up to a 1 million loan amount, 25% down up to a 1.5 mil loan amount. 30% down up to 2 mil loan amount. 
NOTE: the amounts listed above are “loan amounts” not purchase prices meaning that the purchase prices are higher. Fill out the contact form below and I’ll let you know when more Jumbos come back to the market.
 I am Dan, THE Jumbo Loan Man based in Las Vegas, loaning in ALL of Nevada, California, and Colorado, offering virtually every type of Jumbo mortgage loan product on the market.  Jumbo Loans are strange animals with guidelines that are much different than regular loans, so you don’t want some rookie big bank Loan Officer screwing it up. I have 20-years experience and have closed about 1000 loans in my career.

Loans over $510,400 in Nevada and over $726,525 in Orange County are considered to be “Jumbo”, or Baller Loans as some call them.

• 5% down – 680 score. No Mortgage Insurance (PMI) required.
• 10% down – 660 score. No PMI required.
• 20% down – 580 score. No PMI required.
• In addition to the down payment, 3 to 9 months of the payment amount, must be in your bank at close of escrow for “reserves”. Amount of reserves needed is based on the loan amount. The down payments shown above are for the purchase of primary residences. Loans for second (vacation) homes and Investment (rental) properties are available with a larger down payment.

****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.

 
Super-Jumbo Loans to $25 Mil

•  90% LTV (10% down) considered with pledged assets (No PMI required)
  Interest only options available
•  Privacy mortgage for the utmost confidentiality and descretion. 
•  Vesting (taking title) in trust, sub S corporations, LLCs and partnerships is allowed

100% LTV (zero down) considered with cross-collateralization of another property owned by borrower. 

1. Purchase transactions only
2. Effective LTV is 5% lower than posted guideline

3. 12-months reserves
4. No PMI required.

• Eligible Properties are: Primary Residences, Second Homes, and Investment (Rental) Properties

• The Investor should be in first lien position on both properties (deviations from the guideline are allowed, if there is an abundance of equity). These deviations must be reasonable and well-documented.

• An appraisal report will be required  for both properties. 

• A preliminary title report is required with both owners and lender’s coverage on both properties.

• Proof of insurance for both properties.

FLEXIBLE INCOME CONSIDERATIONS With Documentation and Underwriting Approval • Capital gains income allowed • Business assets used for down payment/reserves •  Cash loan proceeds used for reserve requirements • Only 1-year of tax returns required for some programs • Maximized net rental income with reduced adjustment calculation (5 or more properties)

And More…

  • Foreign buyer and ITIN loans are available.
  • High Rise * Non Warrantable Condos * Condotels
  • Bank Statement Loans are available with 10% down, up to a $3M loan amount (3.3M purchase price or higher with more down payment), and are for those borrowers whose have a good cash flow through their bank accounts but don’t show much income on their tax returns. Either personal or business statements can be used.
  • Recent credit events such as Bankruptcy, Foreclosure, or Short Sale are allowed.

Confidential, secure and discrete application process.
 702-326-7469 – Talk/Text      Email: DSherbondy@AllWestern.com

dan flag color

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, Arizona Lic# 0923280, Licensed by the CA Dept of Corporations Lic# 603F053, CA Dept of Real Estate Lic# 01893025, CO Division of Real Estate, Florida Lic# MLD895, NM Financial Institutions Division Lic# 03619, UT Division of Real Estate Lic# 7776975,
OR Dept of Consumer & Business Services Lic# ML-4924, TX Dept of Savings and Mortgage Lending – Consumer Notice, WA State Dept of Financial Institutions Lic# CL-14210.