95% Jumbo ARM, Fixed Rate Phoenix, AZ

95% Jumbo loans are coming back in Phoenix through a select number of lenders and banks.  95% Jumbo ARM, Fixed Rate Phoenix, AZ:  When you talk about jumbo mortgages, the loan amount the lender or bank lends is larger than the standard Conventional loan amount.

Jumbo loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac, which is typical $726,200 for most of the country.

Five Stars offers a number of financing options for jumbo loans in all 50 states, with as little as 5% down. In addition, we have options for no mortgage insurance (PMI) for borrowers with credit scores of 700 or higher. With a jumbo mortgage, buyers will receive great interest rates with a choice between fixed or adjustable rates terms. Our jumbo loans offer maximum flexibility for home financing for larger loans. There are a few options available for 95% jumbo financing in Phoenix, AZ.  Below we will detail the requirements borrowers will want to be aware of.

• First, it’s important to note the 5% down jumbo option is only available for primary & second homes. Single Family, Townhomes and condos.  Applicants wishing to purchase an investment property should plan on a larger down payment of 15% minimum.
• Borrowers will need stellar credit to be approved for the 95% program. Credit scores over 700 is one of the primary requirements.
• The 95 percent Jumbo option is available in both a Fix rate term and Adjustable rate (ARM)
• 95% financing is available up to $2,000,000.  Higher loan amounts are available to borrowers with 10% – 20% + down payment.
• 90% financing up to $3.0m.
• Most options do not require monthly PMI.
• Full documentation required – this includes proper income and asset documents.
• The Jumbo programs are available for both regular home purchases and home refinancing in Arizona.
• Loan pre-approvals are often completed in under 30 min.

Five Stars is proud to serve home buyers in Arizona and across the nation. Jumbo, Conventional, FHA, USDA and VA financing.  Please learn more by visiting www.FiveStarsMortgage.com