Jumbo Loans in Scottsdale for Professionals are Available

Jumbo Loans IN Scottsdale

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Again, on the loan theme, I visited with a National Lender and he says there are Jumbo Loans in Scottsdale with a 5% downpayment…..I know, you are thinking…..Right? What is the catch?

Well, according to a national lender, they are offering 5% down loans, up to 1M, to professionals, with a 5% downpayment, 15 and 30 year fixed, no PMI.

What defines a professional? According to their standards, a professional is a Physician, Attorney, Dentist, CPA. They also provide a 150K LOC to the same professionals.

They will loan up to 1.25M with a 10% downpayment and up to 1.5M with a 20% downpayment.

One snag that was pointed out is that the appraisal cannot show to be in a declining market. However, if it is, higher downpayment can overcome this issue.

In the Scottsdale area, in the >$500,000 price range, the market has not completely stabilized and may yet show some downward trends until complete recovery is in place.

Just as a disclaimer, Jeff McDowell is a licensed Realtor in the state of Arizona and does not hold any licenses related to mortgages or loans. The information supplied here was provided by a National Lender, believed to be accurate and credible. Any person interested in securing a loan as described will be directed to the Lender. Jeff McDowell or affiliates makes no representation or warranty as to the validity of this information.

 

About Arizona Top Realtor

37+ Years Full time Real Estate Experience. Providing the most comprehensive information available to search the North Scottsdale, Cave Creek, Carefree, Rio Verde, Rio Verde Foothills, Arizona Real Estate Markets. Expert experience in all facets of the real estate market.