What does a mortgage loan originator do vs. a bank?

A bank offers only its own loan products. A mortgage loan originator shops your loan across 175+ wholesale lenders to find the best rate, terms, and program for your situation.

How do I get pre-approved?

Apply through one of our lender portals or contact me directly. I will pull your credit, verify income and assets, and issue a full pre-approval letter, typically within 24 hours.

How much do I need for a down payment?

Conventional loans start at 3% down, FHA at 3.5%, and VA loans require zero down payment.

When does it make sense to refinance?

Generally when you can lower your rate by 0.5% or more, shorten your term, or access equity. The key is whether monthly savings outweigh closing costs within your planned timeframe.

A DSCR loan qualifies based on the rental income of an investment property rather than your personal income. No tax returns or pay stubs required.

What is PMI and how do I get rid of it?

PMI is required on conventional loans with less than 20% down. It drops automatically at 78% LTV, or you can request removal at 80% LTV.

Jumbo Loans

Financing above the conforming loan limit, where guidelines and pricing vary widely from one lender to the next.

Jumbo Loans at a Glance

Program Highlights

✓ Loan amounts above $806,500
✓ Up to $3M+ with select lenders
✓ Fixed and ARM options
✓ Primary, second home, investment
✓ Interest-only options available
✓ Asset-based qualifying available

Requirements

✓ 700+ credit score (most lenders)
✓ 10-20% down payment
✓ 6-12 months reserves
✓ Full income documentation
✓ DTI typically under 43%
✓ Two appraisals may be required

Why Use a Broker

Jumbo loans vary dramatically between lenders — far more than conforming loans. One lender might offer 10% down with no MI while another requires 20%. Some allow asset depletion qualifying, others don't. Rate spreads on jumbos can be 0.5% or more between lenders on the same day. This is exactly where a broker with 175+ lender relationships delivers the most value. I shop jumbo pricing across my entire network and consistently find options that big banks don't offer their own customers. If your purchase price is above the conforming limit, talk to me before you lock anywhere.

The Jumbo Process

Pre-Approval & Asset Review

Full income documentation plus 6 to 12 months of reserves. Asset-based qualifying is available with select lenders.

Lender Shopping

Jumbo guidelines are set lender by lender, not by Fannie or Freddie — so terms vary widely. This is where a broker earns their keep.

Underwriting & Appraisal

Expect a closer look at reserves and income. Two appraisals may be required on larger loan amounts.

Close

Fixed, ARM, and interest-only structures are all available depending on the lender and loan size.

Who Jumbo Works Best For

High-Cost Market Buyers

Any purchase requiring financing above the $806,500 conforming limit, up to $3M and beyond with select lenders.

Asset-Rich Borrowers

Asset-based qualifying can work where traditional income documentation falls short.

Cash-Flow Minded Buyers

Interest-only options can substantially lower the monthly payment during the initial period.

Second Home & Investment Buyers

Jumbo financing is available across primary, second home, and investment occupancy.

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Get a Jumbo Loan Quote

Andrew Baker · NMLS 2688601 · (949) 665-9090

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