Jumbo LTV updates for 2019
Jumbo mortgage loan to value (LTV) ratios are constantly changing. In this article I will discuss some of the recent updates and maximum LTV for a Jumbo mortgage. Keep in mind that high loan to value on a Jumbo loan may have higher rates than a lower loan to value Jumbo mortgage.
Purchase LTV for Jumbo Mortgages
If you are looking for a jumbo mortgage with a high LTV , you are in luck in 2019. LTV limits have gone up substantially. Here are the current LTV limits on Jumbo mortgages. Here is more information on low downpayment jumbo mortgages
- 95% LTV up to a $2 million loan amount w/ a 740 mid FICO
- 90% LTV up to a $3 million loan amount w/ a 660 mid FICO
Refinance LTV for Jumbo Mortgages
Refinance loan to value limits are a little different on Jumbo Mortgages depending on what the situation is. If you are looking to simply reduce the rate , the loan to value limits are similar to that of a purchase. For a cash out refinance the loan to value will be less , that is unless it is a “debt-consolidation” refinance. These are typically used to pay off high interest credit card or other debt. Rates on these programs can be higher , but it can result in much less of a total monthly payment. Contact us with your specific scenario or request a quick quote.
Rate and Term Refinance LTV for Jumbo Mortgages
- 95% LTV up to a $2 million loan amount with a 740 mid FICO
- 90% LTV up to a $3 million loan amount with a 660 mid FICO
Cash out Refinance LTV for Jumbo Mortgages
- 85% LTV up to a $1,500,000 loan amount w/ a 700 FICO
- 80% LTV up to a $1,500,000 loan amount w/ a 650 FICO
- 80% LTV up to a $1,000,000 loan amount w/ a 620 FICO
- 75% LTV up to a $1,000,000 loan amount w/ a 610 FICO
Debt Consolidation Refinance LTV for a Jumbo Mortgage
- 95% LTV up to a $750,000 loan amount with a 740 mid FICO
- 90% LTV up to a $750,000 loan amount with a 660 mid FICO
- 85% LTV up to a $750,000 loan amount with a 620 mid FICO
- 80% LTV up to a $750,000 loan amount with a 610 mid FICO
