A&D Mortgage’s Prime Jumbo loan is a financing option for borrowers who intend to purchase a home outside of GSE guidelines. Borrowers who cannot qualify for an agency loan because the price of their home exceeds allowable limits can secure financing with a Non-QM loan from A&D.
Designed to finance luxury properties and homes in competitive real estate markets, Prime Jumbo mortgages come with unique underwriting requirements and tax implications, so it’s best to consult with a leader in the field, and that’s A&D Mortgage.
- FICO 580
- 90% LTV
- Loan amounts up to $4 million
- Max cash in hand $1 million, no limit for LTV < 55%
- Cash-out up to 80% LTV
- Traditional income
- 2-year credit event allowed
- Super Prime & Prime Programs
- Condo up to 90% LTV
- Condotels allowed
- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements
- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements
- FICO 580
- 90% LTV
- Loan amounts up to $4 million
- Max cash in hand $1 million, no limit for LTV < 55%
- 3 months reserves
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Combination of business and personal bank statements allowed
- Condo and condotels allowed