FINANCING NEEDS

Jumbo Asset-Based Program – 3, 5, 7 or 10 year loan; Completely Non-Recourse; 80% LTV; No Income and No Credit Required

        RATES ARE 3.0% - 5.0% FOR THIS PROGRAM

                                      Serious Inquiries Only Please.

High LTV/CLTV JUMBO LOAN PROGRAMS

90% - 95% LTV, 5% Down, 10% Down, 2% / 2 Year Rate Buydowns (Developer Paid!), No Prepayment Penalties, Low Reserve Requirements, Low Credit Score Requirements

Purchasing or refinancing a home requiring jumbo, non-conforming mortgage financing requires a delicate balance in today's mortgage industry.   We primarily specialize in non-conforming jumbo mortgage and super-jumbo mortgage lending.  Our jumbo product line is secured by the top 18 investor pools on Wall Street to ensure absolute delivery of the latest products available at the best available price.  We retain the expertise and flexibility and guarantee your product and solution to be right.

Luxury home loans and lending requirements are changing very quickly and abruptly.  Hence, an even greater need for financial lending expertise is created...as a one-size-fits-all outlook is not usually suitable for higher income earners.  Attention to cost of funds is substantially more import as wealth management, asset preservation, taxation and the estate plan must be tied into the home loan financing correctly.  See our EQUITY INVESTMENT STRATEGY page under hotlinks to the right for a comprehensive explanation on which these mortgage planning concepts are centered.

JUMBO MORTGAGE LOAN GUIDELINES

Underwriting guidelines reflect the difficulty of financing larger loan amounts in tight credit markets.  Rules that once allowed 100% financing for a $4 Million purchase have gone by the wayside temporarily.  We still have the ability to provide reasonable terms for jumbo loans at 5% down and even better at 10% equity positions.  The liquidity issues create more expensive money overall and much tighter debt exposure, asset and credit history requirements.  Loan amounts are generally cut off at 5 Million for primary residences, less for second homes and investment properties.  Larger financing amounts are available but generally too expensive to be advantageous leveraging property above this amount.  Spreads from conforming products to non-conforming jumbo loan products generally run .750% higher for fixed rates and around .375% higher for jumbo ARMs up to 1 Million.  Spreads are sensitive to, and a bit wider above $1 Million and are interdepdent on LTV (loan to value) percentages.   Simply putting down a large cash deposit to obtain a better rate rather than leveraging further with slightly more expensive money is generally not advisable.  For example, sales concessions can subsidize a single premium loan structure while retaining full tax benefits leveraged at 90% vs. leveraging 80% with a larger down-payment which otherwise could be utilized to invest.  The 90% scenario will come out dollar for dollar well ahead of the 80% scenario.  Certainly, down payment requirements are typically larger than conforming loans although 5% down is still viable.  

NON-CONFORMING JUMBO LOAN EXPERTISE - BUYER INSIGHT

Chicago's sophisticated home owners know FIRST that a correct loan structure has everything to do with the most sensible mortgage plan and LOWEST EFFECTIVE COST.  Their professional banker knowing where to find the money and having a process with no problems through closing is a close second.  Appropriate home equity strategy through the right Mortgage Planning concepts will more safely accomplish wealth preservation and allow a freedom point far in advance of retirement.  Our insight and expertise on loan product differentiation, IRS rules of taxation, arbitrage strategy and time value principles is unparalleled in the mortgage industry.  (IRS taxation rules, instrument combinations and title vesting are the variants in the financing structure equation).  To expand on examples, specific taxable assets for down payment can be utilized and exceed the maximum caps of home equity deductibility allowed - pending the timeline of acquisition-to-refinancing is done correctly to receive the investment deduction thereafter.  The bottom line is more time and consideration are needed when financing high-end homes to avoid all potential pitfalls before, during and after closing.  The following criteria are just a few things we carefully consider when outlining a mortgage plan:

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