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Jumbo Suite Loan Programs

Jumbo Suite Loan Programs

Jumbo loans are for borrowers looking to buy or refinance a home that exceeds conforming loan limits. The limit on conforming loans is $424,100 in most areas of the country, but Jumbo loans can exceed these limits. The Jumbo program is one way to buy a high-priced or luxury home or buy in a high-priced area. Jumbo loan borrowers often have a lower debt-to-income ratio, a higher credit score, and a larger down payment.

Home Point Financial offers a suite of Jumbo loan products – Premiere, Select and Choice. Through these three options, customers are provided choices in how they would like to structure their loan, based on eligibility. With each choice, flexibility with eligibility requirements are considered. Highlights of each program include:

Jumbo Premiere Program

  • FICO credit score minimum: 680
  • Finance up to $2 million
  • Investment properties are eligible
  • Max LTV/CLTV is 85%

Jumbo Select Program

  • Additional eligibility flexibility over Premiere
  • FICO credit score minimum: 700
  • Finance up to $2.5 million
  • Investment properties are eligible
  • First-time home buyers are eligible
  • Max LTV/CLTV is 85%

Jumbo Choice Program

  • Additional eligibility flexibility over Premiere and Select options
  • FICO credit score minimum: 661
  • Finance up to $2.5 million
  • Investment properties are eligible
  • Non-warrantable condos are allowed
  • Non-occupant co-borrowers are allowed
  • Max LTV/CLTV is 90%

The Jumbo loan term options include: 10, 15, 20, 25 and 30-year terms. 5, 7 and 10-year ARM options
are also available.