Many would-be home buyers are discouraged by the strict qualification criteria and large down payments many loans require. While the big banks and credit unions are great to work with for important Jumbo funds , which provide more affordable financing, many people are still denied. This is because most jumbo lenders still want a 20% down payment with perfect credit. If you land slightly outside their underwriting parameters, you’ll most likely be turned down.

Jumbo funds are often the actual only real option for of many borrowers whom are interested deluxe residential property or home for the portion that have aggressive areas and you can large will cost you out-of traditions. Unfortunately, of many property owners still fail to meet the rigorous credit criteria having antique jumbo money, making them incapable of pick the dream property.

This is how near miss jumbo fund might help. An almost miss jumbo mortgage is actually a reduced advance payment jumbo loan and you may is different from traditional jumbo loans in a variety of ways. First of all, these are typically low-QM finance that have less strict criteria minimizing advance payment options.

To let more borrowers in order to qualify for jumbo finance, Griffin Money has exploded the fresh new underwriting package when you find yourself however maintaining really aggressive cost. Sigue leyendo →