Jumbo Loans- APR calculation assumes a $500,000 loan with a 20% down payment and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR.
Just Approved: 10 percent down payment jumbo purchase, no reserves nor mortgage insurance required. the Mortgage Outlet, specifically tailors jumbo loans for purchases in the Bay Area and have.
· Mortgage rates for the 3% down payment program are based on standard Fannie Mae rates, plus a slight rate increase. But these loans will come will come with rates only about a one-eighth to one-quarter of one percent higher than rates available to borrowers putting 5-10% down.