Shopping For Jumbo Loans?

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Shopping for a Jumbo loan program does not have to be overwhelming to find a program that fits your needs! Check out Absolute Mortgage’s newest in-house Jumbo loan products, K2 and CORE. These two programs can be a great option when finding your dream home. Here we’ll explain the difference between the two programs and describe which may be the optimal fit for your upcoming financing!

K2 Jumbo

Use K2 to purchase, refinance or even refinance with cash out on your home. With flexible credit requirements and an option to put down a lower down payment, this program is great for those who want to purchase a home up to $944,445, have less than perfect credit and want the option to bring less cash for a down payment. Check out the specs below!

  • Loans up to $850,000 with a 90% LTV (max purchase price of $944,445)

  • Minimum 680 FICO credit score

  • Loan to Value up to 90%

  • DTI’s up to 43%

  • 30 Year and 15 Year fixed

CORE Jumbo

Use our CORE program to make a home purchase, refinance or tap into your equity to do cash out refinance. CORE offers higher loan amount limits and a slightly higher credit score minimum than K2. CORE is a great option for those who want to purchase a home up to $1,875,000, have good credit and have the cash to pay at least 20% down. Check out the specs below!

  • Loans up to 1,500,000 with 80% LTV (Purchase Price up to $1,875,000)

  • Loans up to 2,500,000 with 70% LTV (Price up to $3,571,428)

  • Minimum 720 FICO credit score

  • Loan to Value to 80%

  • DTI’s up to 43%

BONUS Program: Delayed Financing Program

Our Delayed Purchase Program is for buyers who pay all cash for their home and later want to refinance to pull cash out after closing.

For more questions and details about the Delayed Finance program, or any other of our Jumbo loan products listed above, contact one our licensed Mortgage Advisors.

 

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.

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