Super Jumbo Mortgage

Super Jumbo Mortgage Loans

Most of the Super Jumbo Loans we see DO NOT meet predetermined underwriting guidelines. Don't give up.

Super Jumbo Mortgage loans are made based upon the merits or the loan package. We have funding sources that will finance some loans for 90%CLTV to $5,000,000 on State Income loans (Not available in every State). Jumbo Loans and Super Jumbo Mortgages are based upon risk based pricing.

If you have a specific mortgage scenario we will typically ask you for the following information:

Name, address and social security number

Property address and type

Purchase or refinance (rate and term or cash out and how much)

Income and assets information

Permission of 'pull' a credit report

If you want us to confirm the availability of an exception, we will need to 'pull' a credit report. The exceptions typically take 24-36 hour.

We can not use another company's credit report. We will not use a credit report generated from an internet credit company.

Two River Mortgage & Investment looks at ever mortgage as if it were part of a client's Financial Plan. Our goal is to close Jumbo Mortgages and Super Jumbo Mortgages at the best price and on the best program available for our high income and high net worth borrowers.

Do you need to Finance a Super Jumbo Mortgage? Call 1-866-949-2900

DEFINITIONS: Super Jumbo Mortgage Loans are residential mortgages in an amount > $650,000. The Super Jumbo Mortgage can typically goes up to $14,000,000. A conventional mortgage is generally between $50,000 and $417,000. A Jumbo mortgage is defined as being between $417,000 (as of Jan. 2006) and either $650,000 or $1,000,000 depending upon the investor. Super Jumbos Mortgages are any loan over $1,000,000. Two River Mortgage & Investment can facilitate all of these loan types, but we specialize in the Jumbo mortgages and Super Jumbo Mortgages. These types of mortgages facilitate the financing of high-end purchases and refinances of luxury homes, vacation homes, and investment properties. High net-worth individuals tend to find a benefit in leveraging their real estate assets.

If you are considering a Jumbo or Super Jumbo Mortgage, then let one of our experienced mortgage professionals educate you in the step by step mortgage process. It is important to be properly educated about your mortgage program. Do not be fooled by the 1.25% advertisements. Your interest rate will not be 1.25%. Higher end financing requires years of experience. It is important to find the proper mortgage program to meet your short term and long term financial goals.

We have recently financed Super Jumbo Loans over $6,000,000.

(As of October 2008)

A Selection of the Super Jumbo Loan Programs Available:

Specific Loan amounts up to $7,000,000

On exceptions loan amounts to $20,000,000

80% LTU to $850,000

75% LTU to $1,500,000

70% LTU to $2,000,000

60% LTU to $2,500,000

50% LTU to $3,000,000

Call for rate and specifics
866-949-2900

Conventional or Conforming loans are called this because the loan amount 'conform' to the maximum loan amounts which may be purchased in the secondary market. The buyer of these loans is the Federal National Mortgage Association (FNMA, or Fannie Mae) and the Federal Home Loan Mortgage Corp. (FHLMC, or Freddie Mac).

The old rule of thumb that you need to lower your Interest Rate by 2%, is more or less obsolete. For some people as little as a 1/2% drop in thier loan rate would be sufficient. This is a question with no definative answer. It is all relative. Foer some individuals a month savings of $100 is significant others need the savings to be higher. You must ask yourself if the monthly savings is significant to you.

Why should you consider an Interest Only Mortgage Loan? The short answer is the amount of money it will lower your monthly payment. Basically, it is intended to increase your monthly cash flow. Typically, an Interest Only Loan will have a payment about 26.5% less than a fully amortizing mortgage of the same interest rate. Since most Interest Only loans are based upon A.R.M.'s the rates are usually well below a comparable 30 Year Fixed Mortgages further reducing the monthly payment. Some Interest Only mortgages recalculate you monthly payment based upon your outstanding balance. This allows you to have additional principal payments effect your monthly payment immediately. Ask yourself, if only the interest portion of a mortgage payment (principal and interest) is tax deductible why do I want to pay down the principle portion of my mortgage? Amortizing a mortgage will gradually diminish my tax deduction. Could I better invest the principle portion of my mortgage payment? At what rate is my property appreciating? How long will I really live in this home?