There is an excellent option for getting a jumbo mortgage loan in California where you will not have to put 20% down. This loan also goes above the new Fannie Mae loan limits of $625,000 throughout California. You can go up to $875,000 purchase with 10% down in Los Angeles County, Orange County, San Francisco, San Jose, Alameda County, Contra Costa County, Santa Barbara County and many more. In San Diego County you can go to% down to $796,000.
This loan has very low monthly mortgage insurance. And if you pay the loan down to 78% of the original purchase price the mortgage insurance can go away in two years. Some other parameters of this California jumbo loan:
- primary residence only
- SFR’s or condos OK
- 5,7 and 10 year fixed ARM’s available
So don’t hesitate to give us a call at 858-922-7899 or email at firstname.lastname@example.org if you have any questions about getting approved for this excellent California jumbo mortgage.
Sr. Loan Officer