Are Jumbo Loans Available in Todays Market?
In Arizona, the real estate market is heating up on the low end and showing signs of life on the higher end. As the higher end luxury home market shows signs of life, more people are starting to ask about what jumbo loan products are available and under what terms. You can still get jumbo financing, but the terms of today’s jumbo loan market are much different than they were just a couple of years ago. Here are some general guidelines for lenders who will actually lend under the Arizona jumbo mortgage programs available. Arizona Jumbo Mortgage Loan LTV Requirements: A few years ago, you could easily borrow up to 100% on almost any jumbo loan, but today there are definately LTV restrictions and they usually get tougher as the loan amounts get higher. • For loans up to $900,000 expect the loan to value ratio to be around 75%. • For loans up to $1,200,000 expect the loan to value ratio to be around 60%. • For loans up to $1,500,000 expect the loan to value ratio to be around 50%. Arizona
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