Super Jumbo and Luxury Loans
Super Jumbo and Luxury loan amounts range from $3,000,000 up to $30,000,000. These super jumbo loans are aimed squarely at high end real estate in high cost areas and luxury assets. They are generally financed through a Portfolio Lender. These often differ from typical retail bank lenders such as PNC, Bank of America, TD Bank, and others.
Portfolio Lenders are generally not accessible to the general public for a mortgage loan. They typically use their own guidelines to underwrite their own specific mortgage product that they offer.
With that being said, a portfolio mortgage lender also provides flexibility and common-sense underwriting. Traditional mortgage lending tends to be a fairly rigid process. Portfolio Lenders use their flexibility to remain open to different scenarios that cannot be funded by mainstream lenders.
It is worth noting, though, that Portfolio Lenders are NOT hard money lenders. They offer competitive packages for high income earners for portfolio home loan borrowing.
While a Portfolio Lender does not simply lend hard money, they do offer additional benefits. This could include a broadened portfolio of offerings, such as Construction Loans. These are intended specifically for large scale, high valued properties. This could also include competitive super jumbo loan rates, when compared with traditional loans.
Not every kind of borrower potentially qualifies for lenders servicing super jumbo and luxury loans. However, the borrowers who do qualify are sure to reap the benefits. Below, learn more about portfolio home loan benefits for luxury home acquisitions. Our program details will outline why working with super jumbo lenders might be right for you.
Luxury Loans Program Highlights
Lending Details
Super jumbo lenders can offer competitive benefits not found in any other lending product:
- Loan amounts up to $30,000,000
- 90% LTV considered with pledge assets
- 100% LTV considered with cross collateralization
- Higher DTI ratios considered
- Interest only options available
- Privacy mortgage for the utmost confidentiality
- Vesting in trust, sub S corporations,LLCs and partnerships allowed
- Foreign National Lending
- Qualify with bank statements (versus credit score pulls)
Flexible income considerations for Luxury Loans
With Documentation and Underwriting Aapproval from Super Jumbo Mortgage Lenders
Borrowers looking to work with a Portfolio Lender can leverage these luxury home loan product-specific benefits:
- Capital gains income allowed
- Business assets used for down payment/reserves
- Post close liquidity as additional income source
- Cash loan proceeds used for reserve requirements
- 1 year tax returns/P&L income calculation considered
- Maximized net rental income with reduced adjustment calculation (5 or more properties)
All Scenarios Welcomed
From high valued homes to luxury estates, each borrower’s scenario is different. That is sort of par for the course with the super loan mortgage product and with luxury home loans in general.
But while some prospective borrowers might find they are exempt from the luxury loans process, more qualify than you might think. This is why we’ve designed a process specifically for these nuanced borrowers.
We take an individual’s specific scenario into account throughout the process. First, we ask for the typical standard documentation that is required by the common mainstream loans. This helps determine any and all assets for consideration alongside any risks or debts that need to be identified.
From there, we work backwards for what can or cannot be provided. We would then determine the best successful scenario to present to the lender on your behalf.
Ultimately, our goal in working with clients is to offer products and services of tangible value. We will specifically document your portfolio and present you and your scenario to a prospective lender. With the right collateral and documentation, you can expect a lender to successfully fund your luxury loan.
Most clients that are engaged with luxury home loans are of high net worth. As such, their Privacy is respected throughout the process and is strictly enforced. Borrowers engaging with the luxury mortgage loan process should not fear privacy concerns.
Begin Your Portfolio Lender Home Loan Journey
The world of luxury real estate can be daunting without the right information and preparation. This is why it is so critical to bring in a partner you trust throughout the process.
For borrowers looking to explore the exciting possibilities of super loan mortgage offerings, plan to do your homework first. It’s often best to first determine one’s pre-qualification. Pre-qualifying for super jumbo loans cuts the first step out of your borrowing process. It also makes the super jumbo loan rates process go more smoothly with your mortgage lender.
This means, if you qualify, you’re ensuring you’re talking to super jumbo mortgage lenders you can actually work with. And this means more time ultimately spent talking about specifics about your luxury home loan with your portfolio mortgage lender.
To determine your pre-qualification level for a super loan mortgage, use our PreQualify calculator tool and prequalify yourself.
