Believe Lending

Up to 90% LTV on

Jumbo Loans

You’d use a jumbo mortgage when you’re seeking a loan amount that’s greater than the conforming loan limit in your area. In most of the country, that means you’ll use a jumbo mortgage if your loan amount is greater than $417,000.



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WHO QUALIFIES??

  • Must be 18 years or older

  • U.S. Citizens

  • Green Card Holders (non U.S. Citizen)

  • H-1B Visa & EAD Card Holders (non U.S. Citizen)



LOAN DETAILS:

  • Credit: 700+ FICO

  • Max Debt-To-Income (DTI) Ratio of 43%

  • Reserves: Minimum of 6 months reserves and proof of disposable income

  • Owner occupied: up to 85% LTV if Purchase | Up to 75% LTV if Refinance

  • 2nd Home: Up to 70% LTV if Purchase | Refinance N/A on 2nd Homes

  • Minimum Loan Amount is 1$ over the county limit

  • Transactions: Purchase |Refinance(Rate & Term/ Limited Cash-out/ Cash-out)


INELIGIBLE BORROWERS:

  • Foreign Nationals

  • LLCs, Corporation or Partnership (title must be taken as an individual)

  • Life Estates

  • Non-Revocable Trusts

  • Land Trusts

  • Non-Permanent Resident Aliens

  • Individuals living in a foreign county


Appraisal: no transferred appraisals permitted
Employment: Employment must be reviewed for stability and continuity, with at least a two year history in the same job or jobs in the same or related field.
Gaps in Employment: The Borrower must explain, in writing, any gaps in employment that span one or more month.

Bankruptcy and Foreclosure Requirements:

● Chapter 7 Bankruptcy – None in the past 4 years
● Chapter 13 Bankruptcy – Must have been discharged at LEAST 4 years prior to the application date
● Foreclosure – Must be at least 8 years since completion

If you have any questions, Call or Text Andrew Ojeisekhoba At 949-232-9569



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