Jumbo financing is available in Arizona. In order to qualify, you will have to meet the factors in the ACID® test, which I blogged about here: /qualifying-acronym/
Gone are the days of stated income and no income verification. Today, if you want a jumbo loan, you will have to provide full documentation and demonstrate an income. Even if you can pay for the home in cash, if you want a loan, you must still have verifiable income. For self-employed individuals, that means providing your last two years tax returns. If you are salaried, providing your paystubs and W-2. If you can qualify, there are very good rates and programs.
A jumbo loan in Arizona is a loan amount of more than $484,350. The programs and rates for these products vary depending on the down payment and your credit score. Jumbo loans today can be made for as little as 5% down. Contact us for details. A variety of products are available, including 30-year, 20-year, and 15-year fixed rate loans, as well as adjustable rate mortgages, including 5/1, and 7/1 ARMS.
Rates and programs can change daily, so visit our website to stay current. If you have any questions, or specific scenarios, please contact us and we will help you.
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