HomeBridge is announcing updates to the Jumbo program. These changes are effective immediately.
Investment properties are no longer eligible. Loans currently in the pipeline secured by an investment property that has been approved will be honored.
Foreign Nationals are no longer eligible. Loans currently in the pipeline and approved with a borrower who is a foreign national will be honored.
Properties > 5 Acres
Properties > 5 acres are no longer eligible. Loans currently in the pipeline and approved loans with > 5 acres will be honored.
As a reminder, rural properties are currently ineligible and will remain ineligible regardless of acreage.
A signed YTD balance sheet is required in addition to the signed YTD P&L. The P&L and balance sheet must have an end date within 90 days of the funding date. If an extension was filed the P&L and balance sheets for the prior year (January through December) are required.
NOTE: The signed YTD balance sheet is required for all self-employed borrowers regardless of whether income is reported on individual or business tax returns (sole proprietorships, corporations, “S