Jumbo Loan Options That Don’t Require 20% Down For Luxury Tucson Home Purchases

September 3rd, 2013 by Michael Oliver

New Foothills Listing That Could Be Financed Using Less Than 20% Down

As mentioned in recent posts there are a lot of buyers looking to buy higher priced homes right now, and many of them do not have the 20% down payment “most” people think is a requirement on a Jumbo Mortgage (a mortgage the lender is going to keep on their books over $417k in loan amount.) Somewhat recently I have seen new Jumbo loan products for luxury Tucson homes that deal with this segment of the market. My assumption as to why is because the banks now feel the market has finished its down cycle and Jumbo loans allow them to make a lot of money in that type of environment.

VA Jumbo Loans $417k-$700k Mortgages With No Down Payment Required 620 Minimum FICO

March 10th, 2011 by Michael Oliver

I had a lender call me yesterday with some news about a VA Jumbo loan program that to be honest few people know exists (not even a lot of mortgage lenders). The details with this loan are pretty simple Jumbo Mortgages (mortgages over $417k) are tough to get and if you can qualify for one generally you will be required to put down 20% minimum, you also pay a higher interest rate as the risk of loaning larger sums of money is higher to the lender generally the difference is about 1/2 a point (.5% of the interest rate). However with a VA Jumbo Mortgage at only 10% down (your not required to put money down but putting some down gets you a better rate) will currently get you about a 30 year fixed mortgage rate of 5%…

What Type Of Research Should You Do When Buying A House? Here Is An Idea What You As A Buyer Should Look Into

April 1st, 2010 by Michael Oliver

When buying a home an incredible amount of time and effort is spent just researching everything that has to do with housing and your

"Home buyers in Tucson"

When looking to buy a home do the proper research before you do anything!

local real estate market. So for those that want to get a list or idea what are some important things to look into when buying a home or what your Realtor is doing while he/ she is assisting you many would be surprised at the raw amount of research and time that goes into doing your due diligence on a home purchase.

Michael Oliver - Best Tucson Realtor