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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%…

VA (Veterans Administration) First Time Home Buyer Mortgage Process- VA Home Loans And How They Work In Tucson AZ- Get Pre-Qualified For Your VA Mortgage Today!

February 23rd, 2010 by Michael Oliver

Getting ready to purchase a home is a exciting process.  Becoming a homeowner is one of the best feelings in the world.  Here are some things a VA borrower can expect on the road to being a First Time Home Buyer.  The VA loan was designed to help veterans become home owners with no money down.  The VA is not a lender, but they act as a mortgage insurance company that provides mortgage insurance to lenders who are approved to offer VA loans to veterans.  The VA has lending guideline in addition to the mortgage companies’ own guidelines.  Veterans must qualify for a VA loan;  just being a veteran does not automatically qualify you for a loan.

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VA (Veterans Administration) Homes/ Real Estate For Sale In Tucson Arizona (AZ)- How To Find VA Homes And How To Get The Best Deal On A VA Home/ Foreclosure In Tucson

February 22nd, 2010 by Michael Oliver

Since Tucson is home to a major Air Force Base (Davis Monathan) as well as a highly demanded retirement area

"VA home loan logo"

VA Loans Are Great Options For Veterans Looking To Buy a Tucson Home

for retired veterans it makes sense many home purchases are VA home purchases in the Tucson Arizona area. VA Homes are any homes bought using a VA (Veterans Administration) mortgage -or- those properties foreclosed on by banks that were backed using a VA loan. Those homes are then re-sold and in many cases VA home foreclosures offer a great way to buy a home in Tucson Arizona especially for first time buyers in the military.

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Michael Oliver - Best Tucson Realtor