Currently at Gateway Funding, we still have access to jumbo mortgage financing with rates often under 5% on a 5/1 ARM Program as of 3/7/2008. These loans include a minimum 1pt origination fee and other restrictions and fees may apply.
We can offer amortizations from 15-40 years, and also have an interest-only option as well. We can go up to a 75% Loan to Value for loans up to 1 million dollars, 70% to 1.5 million, and up to 65% to 2.5 million on purchase money and rate/term refinances. Cash-out refinances are available at lower loan to values.
Given the current secondary market, there are restrictions that apply. These are full doc loans, with credit scores over 700, and reserve requirements ranging from 6 months to 36 months depending on loan size. Call today to see if you qualify.
Michael Byrne
Loan Officer
This does not constitute a commitment to lend and other restrictions may apply. Consult with your mortgage professional for details. Equal Housing Lender.
Michael Byrne
Mortgage Specialist
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