Brand New Jumbo Loan | Valor Lending Group
Would you like to learn about our Brand New Jumbo Mortgage Loan Programs?
Are you looking to purchase a luxury home in the beautiful state of California?
Great News! Valor is now fully licensed in Arizona, California and Florida!
See information below on what a jumbo loan is in detail and how to qualify for financing.
When your sights are set on a pricey home a traditional loan most likely won’t be enough. Jumbo loan programs are available to help when your loan amount needed exceeds the limits and guidelines of the traditional conforming loans set by Fannie Mae, Freddie Mac and the FHA to guarantee or insure. California homes are already high in price and when you add in wanting to be located in or near the major cities or on the breathtaking beaches the price only goes up.
Valor Lending Group is comminuted to provide you with everything you will need to achieve your dreams.
WE HAVE THE BRAND NEW JUMBO LOAN PROGRAMS YOU HAVE BEEN SEARCHING FOR!
Valor Lending Group is ready to start a scenario for you TODAY!
What Are Jumbo Loans?
These are not the type of loans that were prevalent in the pre-2008 financial crisis, and no longer are the days in which loan applicants can simply state their income on a loan application with virtually no due diligence conducted by the lender. After the 2008 financial crisis, the sweeping provisions of Dodd-Frank changed the industry substantially, at least in the owner-occupied residential context. Since 2010 Dodd-Frank has required lenders to document a residential borrower’s ability to repay the loan.
Jumbo lenders still want to ensure borrowers can repay their mortgages, they typically require a lower debt to income ratio (DTI) to verify income. They also require a higher down payment and increased reserve requirements. Jumbo loans typically require an increased credit score of 700 or more. Valor Lending Group features an incredible array of jumbo loans that will allow higher than the typical jumbo loan to value and debt to income ratios as well as lower credit scores and reduced reserves requirements.
Why Use Jumbo Loans?
Jumbo loans are for borrowers seeking to acquire or refinance a property in the most desirable luxury markets where home prices begin to exceed the county conforming loan limits. These borrowers still must qualify based on their global financial situation (mainly their income and debts) to ensure their ability to repay the loan. These loans are repackaged and sold in mortgage-backed securities on the secondary mortgage market, and lenders and investors are still interested in a timely return on their money.
Traditional mortgage lenders require tax returns, W-2s, and paycheck stubs in order to determine monthly income. For salaried and hourly borrowers, the lenders look at gross income for qualifying purposes. But for self-employed borrowers, traditional mortgage lenders look at net income, the adjusted gross income showing on tax returns. The qualifying income is viewed in conjunction with all debts, and a debt-to-income (“DTI”) ratio is calculated. Traditional mortgage lenders would be required to have a DTI of no more that 35%, however, at Valor Lending Group our funding sources typically allow up to 50% DTI and a lower credit score and down payment requirement.
How Do You Qualify For A Jumbo Loan?
You qualify for a Jumbo Loan in the same way as a conventional or high balance loan, with full documentation, such as 2 years tax returns, W2s, most recent pay stubs, etc.
Who Is A Jumbo Loan Right For?
At Valor Lending Group, we have Jumbo Loans perfect for the high income and strong asset borrower who is looking to buy or refinance a luxury home in high end markets.
In addition, we also offer full documentation low rate loans, stated income loans, and hard money loans.
Advantages and Disadvantages of Jumbo Loans
1) Pros of Jumbo Loans
- Higher Loan Amounts
- Luxury Homes purchase (better schools, lower crime rates, larger homes)
- No Mortgage Insurance (for some lenders)
2) Cons of Bank Statement Loans
- Higher Interest Rates
- Lower Leverage
- Lower debt to income ratio, typically at 35% DTI
- Higher reserve requirements
- More stringent underwriting guidelines
Valor Lending group features the very best California jumbo loan programs.
- Valor has a number of full document financing solutions for purchase, refinance and cash out Jumbo Loans. We have options to allow you to secure and maintain the luxury property of your dreams.
- We offer full documentation low rate loans, stated income loans, and hard money loans up to $5,000,000. Our borrowers choose from 5,7,10 and 30 year fixed rate loans. Most often with our full doc low rate loans our services are ‘free’ of charge to the borrower. (Check your county limits here)
- What is a jumbo loan? A jumbo loan is one that exceeds the subject property county guidelines for conforming and high balance conforming loan amounts.
- Although there are many jumbo lenders, most of them only fund up to $2,000,000-$3,000,000. Therefore, most borrowers really appreciate Valor’s ‘super jumbo’s’ up to $5,000,000.
Valor Jumbo Loan Program Highlights:
- 90% Max LTV | As Low as 10% Down
- 40-year fixed term with IO
- Max Loan Up to $30M (Most lenders cap at $2M-$3M)
- Flexible Guidelines
- 15, 20, 25 & 30 Year Fixed Interest Rates
- Non-occupant co-borrower + Gift Funds
- Interest-Only with 680 + Fico
- 90% LTV cash out (Up to $1.5M)
- 2-year seasoning – short sales + bankruptcy
- 3-years seasoning – foreclosure
- As low as 600 Fico
- DTI Allowed up to 50%
- Valor boasts the very best communication, service, rates and performance in the industry
- Valor ensures the very best pricing by shopping with many direct lenders so you don’t have to!
We also offer:
CALL or EMAIL me for immediate attention to your scenario!
Valor Lending Group can fund your fast-hard money loan up to $10M in as little as 7 days often without an appraisal.
We are excited for the opportunity to serve up EVERY loan in the book to Arizona, California and Florida residents and look forward to raising the bar in mortgage loan financing!
I look forward to an opportunity to demonstrate my prompt and professional service.
Recap of our Loan Products:
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans
- High Balance Conforming aka Super Conforming
- Jumbo’s to $10 Million / 10% down Jumbo to $1.5mm
- FHA, USDA
- ARM’s
- Reverse mortgages up to $1 Million Value
- Refinance including Cash Out
We look forward to the opportunity to serve you!
CONTACT ME TODAY for immediate attention to your scenario!
**Rates and terms subject to change without notice**
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