HomeBridge is pleased to announce that effective November 19, 2013 we will be offering a Jumbo loan program.
Highlights of the program are:
• Loan amounts up to $2,000,000; minimum loan amount $200,000
• Purchase, rate/term and cash-out. Maximum cash-out is $300,000 for 1-unit properties
• Owner-occupied, second home and investment property
• Minimum 700 credit score
• Maximum 80% LTV. An LTV reduction of 5% -10% will be required for properties located in a declining market as determined by HomeBridge. Declining markets will be identified as follows:
– Category B: The appraisal and 1004MC will be carefully reviewed by the underwriter. If the appraiser indicates a concern that property values may be declining a 5% LTV reduction is required.
– Category C: Requires a 5% LTV reduction
– Category D: Requires a 10% LTV reduction
A Jumbo Declining Markets Indicator will be posted on the HomeBridge website under the “Working with HomeBridge