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NON-CONFORMING/JUMBO PRODUCTS

JMAC offers outstanding jumbo products suited for your needs.  Find out more about these lending options below.  

Laguna

Laguna is a premium jumbo product with aggressive pricing on purchase loans.

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•  Aggressive pricing on fixed and ARM programs
•  Min. Loan Amount needs to be $1 higher than standard conforming limits
•  80% LTV/CLTV up to $2M min. 700 FICO
•  70% LTV/CLTV up to $3M min. 720 FICO
•  100% of the down payment from gift funds
•  Investment property to $2M
•  Only one appraisal required up to $3M loan amount
•  No Mortgage or Rental history required


MALIBU

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• 90% LTV to $1.5Million on Purchase with no Mortgage Insurance
• Interest-Only up to 75% LTV for Owner Occupied
• Pay off PACE-HEROs as R/T up to 80% LTV, max. $2M
• Up to 4-Unit properties on Owner Occupied
• One Unit for Second Home and 1-4 for Investment
• Minimum loan amounts start at $484,351
• Maximum loan amount to $3M
• Gift funds allowed on owner-occupied transactions
• Interest-Only ARMs: 5/1, 7/1 and 10/1
• 6 months PITIA reserves required up to $1M, 80% LTV

 

Manhattan

Ideal for Millennials with no mortgage or rental history.  In addition, Manhattan loans offer aggressive pricing on refinances.

•  Loans to $2.5M
•  Delayed financing allowed up to 50% with a $1M loan amount
•  Rental income allowed on departing property
•  Up to 8 financed properties allowed (max. 15 owned non-comm. properties)
•  100% reserve can be from retirement funds
•  First time home buyer: no mortgage or rental history required


 


MONTEREY

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  • Loan amounts from $100K to $2M and 1-4 Units

  • 95% LTV/CLTV Purchase and R&T up to $2M

  • 95% LTV/CLTV Unlimited Cash-Out up to $2M

  • Investment up to 85% on 1-4 Units up to $2M Purchase and R&T

  • RSU (restricted stock income) allowed with 2 years history

  • Non-occupant co-borrowers and gift funds allowed – primary borrower must qualify up to 60% DTI

  • Payoff of revolving debts to qualify is allowed

  • No seasoning to use current market value on R&T refinance

  • Up to 15 financed properties

  • ARMs and Fixed products available with 40-year Interest Only Options

  • Recently listed property can take cash-out 1 day off the market *

  • Exclude current mortgage from qualification *

  • Non-Warrantable condo allowed *

  • For cash-out > 85%, minimum of 720 fico score required

  • Loan amount > $1M and LTV > 80% requires prior approval

*Subject to conditions and guidelines