I am a former Firefighter/Paramedic and over the last 20-years, I have helped about 1000 families buy or refinance their homes. Jumbo Loans are strange animals with guidelines that are much different than regular loans, so you don’t want some rookie Loan Officer screwing it up and you end up losing a house that you really wanted. Be assured that when I sign my name to a pre-approval, I have thoroughly reviewed your file.
Loans over $510,400 in Nevada and over $726,525 in Orange County are considered to be non-conforming, aka “Jumbo”.
*Minimum credit scores vary with my various Jumbo investors, so send me a contact form (at bottom) and let me know some details about the transaction’
*A higher loan amount is possible if we get an “exception” for having a strong file.
* Part of the down payment can be a gift but borrower must have 5% 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.
Non-Occupant Co-Borrowers must be immediate family members.
DTI (debt to income) Ratio – Standard max is 43%. DTI’s greater than 43% and up to 55% may be considered with compensating factors, such as extra reserves, your new payment is no more than 10% higher than current payment/rent, 3 years or more with current employer, high credit scores. Think of compensating factors like “extra credit” in school.
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
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. Maximum LTV is 75%.
Confidential, secure and discrete application process.
702-326-7469 – Talk/Text
Senior Loan Officer
All Western Mortgage
(established in 1981)
“Dan The Loan Man”
702-326-7469 talk/text every day
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.