SUPER Jumbo Loans?
Super jumbo loans (aka "monster loans") are mortgage loans that
cannot be obtained from your local bank due to their large dollar
amount. While there is no specific dollar figure that can be put
on a monster loan, we will use $5M-$40M for the purpose of this website.
Is Getting A Super Jumbo Loan Difficult?
In our currently readjusting real estate climate, it is still possible
to get a monster loan. The difficulties that arise are usually
related to income and/or equity position. Most borrowers in the
super jumbo loan category have their money invested in many umbrella
companies, corporations, bank accounts, and assets. It is
sometimes painstaking work to prove income upwards of $300K per month,
but the alternative is no loan at all. Equity position (the loan
to value ratio "LTV" for the mortgage loan) is also a factor in
procuring a monster loan. While conforming loans still offer as
much as 97%-100% of the appraised value, super jumbo lenders will often
require that the property have as much as 40% equity (60% LTV).
Do You Need To Have Liquid Assets?
Yes, lenders want to see that their borrowers have the ability to
maintain a certain proportion of their assets in a form that is readily
available. While a lack of liquid assets does not mean that a
borrower has financial difficulties, it does show a lack of preparation
for emergency situations.
Is Your Information Safe?
While giving out personal information can be a terrifying prospect for
some borrowers, it is a necessary part of the loan process. At
Intuitive Loans, we take every precaution when it comes to our clients'
interests and privacy. As well as redundant hacker-proof
safeguards, we maintain an industrial-strength document shredder on the
premises.
How Can We Be Contacted?
Our highly-trained staff is available via webmail, e-mail, or by
telephone M-F from 10am - 5pm Pacific Time. Your request for information
will be answered by the next business day if made during regular
business hours.
Contact us
online or call TOLL-FREE at 1 (888) 66-ADVICE.
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