PIN IT

11/13/2015

95% Jumbo Mortgage


Up till now the required  minimum down payment on high balance loans was 10%. Starting next month we will only require 5% down on these types mortgages. Read below for all revisions.

As a direct lender with all operations in-house we can close these type loans in 30 days.

We have what it takes!


This summary is great news. This is not a commitment to lend or give you a 95% Jumbo conventional high balance loan for California counties that the high balance 
loan limit is $625,500.00
Other counties such as Riverside the loan amount is lower. 
See below for dollar amounts. 
These dollar amounts do change annually.
 All criteria are subject to the formal terms and conditions 
of the Fannie Mae Selling Guide. 

High-Balance Loans: Policy Update Summary
Effective with the implementation of Desktop Underwriter® (DU®) 

Fannie Mae will update the eligibility requirements for high-balance mortgage loans as follows 
for details and the high-balance product matrix more information will be released
 Removed: Overlays requiring a 5% minimum borrower contribution from borrower’s own funds; an appraisal field review for loans of more than $625,000 and a loan to value or combined loan to value ( LTV CLTV) above 80%; and the appraisal to have two comparable sales from outside the subject project when loan is secured by a condominium unit.
 Aligned: Maximum LTV/CLTV/HCLTV ratios for borrowers with 5−10 financed properties aligned with the requirements for loans subject to the general loan limits.
 Retained: An appraisal field review is required for properties valued at $1 million or more with an LTV/CLTV/HCLTV above 75%; and all borrowers must have traditional credit to qualify.
 New: High-balance loans must be underwritten through DU.
 Updated: Eligibility ratios as shown in the table.
Property Type
Maximum Loan-to-Value (LTV) Ratio for High-Balance Loans
NEW Effective December 12, 2015
Before Update
Purchase Transaction
1-unit principal residence
FRM: 95%; ARM: 90%
FRM: 90%; ARM: 75%
2-unit principal residence
FRM: 85%; ARM: 75%
FRM: 75%; ARM: 65%
3- to 4-unit principal residence
FRM: 75%; ARM: 65%
Second Home
FRM: 90%; ARM: 80%
FRM/ARM: 65%
1-unit investment
FRM: 85%; ARM: 75%
2- to 4-unit investment
FRM: 75%; ARM: 65%
Limited Cash-Out Refinance Transaction
1-unit principal residence
FRM: 95%; ARM: 90%
FRM:90%; ARM: 75%
2-unit principal residence
FRM: 85%; ARM: 75%
FRM: 75%; ARM: 65%
3-4-unit principal residence
FRM: 75%; ARM: 65%
Second Home
FRM: 90%; ARM: 80%
FRM/ARM: 65%
1-unit investment
FRM: 75%; ARM: 65%
2-4-unit investment
Cash-Out Refinance Transaction
1-unit principal residence
FRM: 80%; ARM: 75%
FRM/ARM: 60%
2- to 4-unit principal residence
FRM: 75%; ARM: 65%
Not available
Second Home
1-unit investment
2- to 4-unit investment
FRM: 70%; ARM: 60%

Counties that increased loan limit in 2015 

Monterey County CA SALINAS, CA  $                 483,000  $            502,550  $      19,550
Napa County CA NAPA, CA  $                 592,250  $            615,250  $      23,000
San Diego County CA SAN DIEGO-CARLSBAD, CA  $                 546,250  $            562,350  $      16,100


County Name
One-Unit Limit
Two-Unit Limit
Three-Unit Limit
Four-Unit Limit


ALAMEDA
$729,750
$934,200
$1,129,250
$1,403,400

ALPINE
$547,500
$700,900
$847,200
$1,052,900

AMADOR
$443,750
$568,050
$686,650
$853,350

BUTTE
$417,000
$533,850
$645,300
$801,950

CALAVERAS
$462,500
$592,050
$715,700
$889,450

COLUSA
$417,000
$533,850
$645,300
$801,950

CONTRA COSTA
$729,750
$934,200
$1,129,250
$1,403,400

DEL NORTE
$417,000
$533,850
$645,300
$801,950

EL DORADO
$580,000
$742,500
$897,500
$1,115,400

FRESNO
$417,000
$533,850
$645,300
$801,950

GLENN
$417,000
$533,850
$645,300
$801,950

HUMBOLDT
$417,000
$533,850
$645,300
$801,950

IMPERIAL
$417,000
$533,850
$645,300
$801,950

INYO
$437,500
$560,050
$677,000
$841,350

KERN
$417,000
$533,850
$645,300
$801,950

KINGS
$417,000
$533,850
$645,300
$801,950

LAKE
$417,000
$533,850
$645,300
$801,950

LASSEN
$417,000
$533,850
$645,300
$801,950

LOS ANGELES
$729,750
$934,200
$1,129,250
$1,403,400

MADERA
$425,000
$544,050
$657,650
$817,300

MARIN
$729,750
$934,200
$1,129,250
$1,403,400

MARIPOSA
$417,000
$533,850
$645,300
$801,950

MENDOCINO
$512,500
$656,100
$793,050
$985,600

MERCED
$472,500
$604,900
$731,150
$908,650

MODOC
$417,000
$533,850
$645,300
$801,950

MONO
$529,000
$677,200
$818,600
$1,017,300

MONTEREY
$729,750
$934,200
$1,129,250
$1,403,400

NAPA
$729,750
$934,200
$1,129,250
$1,403,400

NEVADA
$562,500
$720,100
$870,450
$1,081,750

ORANGE
$729,750
$934,200
$1,129,250
$1,403,400

PLACER
$580,000
$742,500
$897,500
$1,115,400

PLUMAS
$417,000
$533,850
$645,300
$801,950

RIVERSIDE
$500,000
$640,100
$773,700
$961,550

SACRAMENTO
$580,000
$742,500
$897,500
$1,115,400

SAN BENITO
$729,750
$934,200
$1,129,250
$1,403,400

SAN BERNARDINO
$500,000
$640,100
$773,700
$961,550

SAN DIEGO
$697,500
$892,950
$1,079,350
$1,341,350

SAN FRANCISCO
$729,750
$934,200
$1,129,250
$1,403,400

SAN JOAQUIN
$488,750
$625,700
$756,300
$939,900

SAN LUIS OBISPO
$687,500
$880,100
$1,063,850
$1,322,150

SAN MATEO
$729,750
$934,200
$1,129,250
$1,403,400

SANTA BARBARA
$729,750
$934,200
$1,129,250
$1,403,400

SANTA CLARA
$729,750
$934,200
$1,129,250
$1,403,400

SANTA CRUZ
$729,750
$934,200
$1,129,250
$1,403,400

SHASTA
$423,750
$542,450
$655,700
$814,900

SIERRA
$417,000
$533,850
$645,300
$801,950

SISKIYOU
$417,000
$533,850
$645,300
$801,950

SOLANO
$557,500
$713,700
$862,700
$1,072,150

SONOMA
$662,500
$848,100
$1,025,200
$1,274,050

STANISLAUS
$423,750
$542,450
$655,700
$814,900

SUTTER
$425,000
$544,050
$657,650
$817,300

TEHAMA
$417,000
$533,850
$645,300
$801,950

TRINITY
$417,000
$533,850
$645,300
$801,950

TULARE
$417,000
$533,850
$645,300
$801,950

TUOLUMNE
$437,500
$560,050
$677,000
$841,350

VENTURA
$729,750
$934,200
$1,129,250
$1,403,400

YOLO
$580,000
$742,500
$897,500
$1,115,400

YUBA
$425,000
$544,050
$657,650
$817,300 

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