For purchase or refinance, the year 2022 Conforming Limit in Florida is $647,200 and goes up to $710,700 for high-cost counties for one-unit properties. Jumbo Loan amounts are those loan amounts that are higher than these.
Jumbo loans have a variety of Non QM & Alt-Doc solutions too, like assets based or cash flow underwriting. You have an option for interest-only monthly payments.
Jumbo Loan documentation can be stricter than other loan types. These stricter guidelines may be escaped by doing two loans: a First TD loan at or below the conforming limit and a Second TD loan closing at the same time as the First.
For purchasing Jumbo loans in Florida, you get to pay a 20% down payment of the buying price. The exceptions can be getting a second mortgage. For example, get a 75% first mortgage and a 15% second mortgage. Monster Mike Mortgage assists you with finding the best beneficial deals for your luxurious properties.
Maybe You Need a Super Jumbo loan amount? The Monster on your side has Super Jumbo Loan Amounts up to $30,000,000 - THAT'S 30 MILLION DOLLARS!
Other exception type underwriting include: Pledged Assets; Cross Collateralization; DSCR; Bridge-to-Sale; 12-month bank statement qualifying; Cash-Flow maximizer, Interest Only Monthly Payments (IO); etc.
Call on MonsterMike to brainstorm which options are best for you)).
Jumbo loan financing is available for most property types, including condos, single-family detached houses, PUD, second homes and investments. Comercial Properties have Jumbo and Super Jumbo Options too!
Your request has been submitted.
Something went wrong. Please refresh the page and try again or call us at 561-962-5835
Uh Oh! There are some problems