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Full doc and Bank Statement Jumbo
Programs Available!
Illinois jumbo mortgage loans and Wisconsin jumbo loans or super jumbo loans offer homeowners the
ability to take a mortgage loan that exceed the conforming
loan limits set by Fannie Mae or Freddie Mac. With Interest
rates low some homeowners would like to consider a jumbo loan to get more house for
their money. Typically jumbo loans
have higher interest rates than conforming loans. This is
because there is greater risk to the lender with a higher
loan amount.
What
is a Jumbo Loan?
A mortgage loan
that exceeds the conforming mortgage loan amount of
$417,000. Remember, this is the mortgage loan amount...
not the value of the house. If you will be borrowing less than
$417,000 please visit our
mortgage programs
page for information on our other
great mortgage programs.
It is possible to get a jumbo mortgage with no PMI.
What we would do is a first mortgage up to $417,000 and put
the rest (20%) on the second mortgage (this would be
considered a conforming loan and not a jumbo loan) . This
can be done in most cases but there are limits on the second
mortgage loan amount.
When your dream home requires a little "extra" - we have the
programs for you. Our jumbo programs meet the needs of our jumbo
borrowers looking for larger loan amounts.
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Low down payments available
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Available for a large selection
of property types
-
Streamlined processing available
- saving you time and money
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Fixed and ARM programs available
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Loan amounts up to $3 million
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Jumbo VA loan programs available
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Bank statement programs available
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1099 programs available
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No mortgage insurance programs available
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Stated income verified asset options available to $1.5
million at 80%
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Up to 100% financing possible with an 80/20 (417,000 first and
max $250,000 on the second)
Additional
jumbo programs:
All Wisconsin and Illinois Mortgage Programs
100% Financing (No Money Down) Programs
First Time Home Buyer Mortgage Programs
My Community Mortgage
Government Loans including
FHA, VA
and
Rural Housing
Wisconsin Refinance Illinois Refinance Programs
Current Wisconsin and Illinois Jumbo Mortgage Rates
About
Ameristar Mortgage
Apply
or Pre-qualify Online
Contact
Ameristar Mortgage
Recent jumbo mortgage posts on our blog:
Jumbo Loans (Non
Conforming) from
Ameristar Mortgage
April 30th, 2008
Jumbo loans in Illinois and Wisconsin
come in all shapes and sizes, however unlike conforming
mortgages, the overwhelming majority of jumbo mortgages
are Adjustable Rate Mortgages, or ARM loans.
While conventional banks and mainstream, conforming
lenders traditionally underserved borrowers of jumbo
mortgages, a few mortgage brokers specialize in
arranging jumbo financing up to multi million dollar
loan amounts. The difference in pricing between
conforming mortgages and jumbo mortgages (loans
with values in excess of conforming loan limits)
is usually considerable.
Ameristar Mortgage offers jumbo mortgage loans in
Illinois and Wisconsin up to $3 million.
Read the rest of this
entry »
Jumbo Mortgage Loans from Ameristar Mortgage
April 18th, 2008
Wisconsin
jumbo mortgage loans and Illinois Jumbo mortgage loans
typically carry higher interest rates than conforming
mortgages. Even for wealthy borrowers with exceptional
credit and enough cash for a 20% down payment, the cost of
fixed-rate jumbo mortgages is now upwards of 8% for a
30-year loan. In a tighter credit market, lenders are
charging more for jumbos because of the extra risk of not
being able to sell them to the investment community.
The most popular super jumbo mortgage program is still
the interest-only loan since the savings can be substantial
compared to fixed rate loans at these amounts.
Read the rest of this
entry »
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