Cross Collateralized Jumbo Loans

Who is our Cross Collateralized Jumbo Loans Best Suited For

This loan is a great option for someone looking to Purchase a home with limited down payment but has other properties that can be put up as collateral. With this extra collateral the down payment requirement is absorbed by the remaining other properties. A loan that in some cases would require a 45% down payment may only require a 10% down payment on the new “Cross Collateralized” loan. If a borrower is looking to Refinance and wants cash out but the amount, they may need far exceeds the eligibility of one single property. In this case a group of properties can be “Cross Collateralized” and leveraged to achieve the desired cash out. Our borrowers can qualify using full income documentation or Bank Deposits in lieu of traditional income documentation.

How Cross Collateralized Jumbo Loans Work

These loans are Portfolio Loans that are not connected to any Government Agency. This loan only works when we have multiple properties to put up as collateral. This is done to allow us to decrease the leverage on one specific property and spread it over multiple properties.

Loan Program Highlights for Cross Collateralized Jumbo Loans

  • Loan Amounts up to $30 Million*
  • Maximum Loan to Value is 45%
  • May qualify full doc or with 12 months Business or Personal bank Statements
  • A minimum credit score of 680 is required for the program
  • Max DTI is 50%
  • Minimum of 6 Months Reserves required**
  • This program is eligible for Purchase transactions or Refinance Rate and Term or Cash Out. Unlimited Cash Out options are available
  • Primary Residence, Second Home and Investment properties are eligible on this program
  • Single Family Homes, Condominiums and 2- 4 Unit homes are all eligible for financing
  • Non warrantable Condo financing available
  • Interest Only Available
  • 5/7/10 year ARM – Available
  • Minimum Loan Amount is $515,000.00
* Loan Amounts vary based on LTV, Credit, and overall creditworthiness ** More reserves will be required for Loan Amounts over $2,000,000.00