Financing Information

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Here is a brief overview:


Money to finance

Conventional Loan: is a mortgage which is underwritten to Fannie Mae / Freddie Mac guidelines. The maximum loan amount on conforming loans for most of Florida is $417,000.

Jumbo Loan: is a home loan where the loan amount to purchase a home exceeds $424,100. Since this loan is ineligible for resale on the secondary market to Fannie Mae or Freddie Mac, they are called non-conforming and typically kept in portfolio (kept in inventory by lender).

Super Jumbo Loan: is a home loan that exceeds a mortgage amount of 1 million dollars.

Types of Loans: For more expensive and larger homes, sometimes a super jumbo home loan is the only option available, but there are still a variety of financing opportunities in a 30-year fixed, 15 year fixed, various Adjustable Rate Mortgages (ARMS), interest only loans and even 100% financing with pledged assets. There are no document (“no doc”) loans, full doc loans, primary residence loans, second home loans and investment property loans.


The best loan for you will depend upon a number of different factors such as your credit score, debt-to-income ratio, down payment amount, property type, and occupancy to name a few. Current Underwriting guidelines place an emphasis on credit score, loan-to-value ratio, debt-to-income ratio and cash reserves after closing.


eric-intiharERIC INTIHAR


4800 North Federal Highway Building E, Suite #200

Boca Raton, FL 33431

Office: 561-886-0300 x214

Toll Free: 855-718-2668 x214

Mobile: 954-448-9829

Fax: 561-886-0301