Prime Jumbo

Min. Credit Score 680 Min. 20% Down Payment

A&D Mortgage's Prime Jumbo loan is designed to help you finance your dream home, even if it exceeds the limits of traditional mortgage programs. Whether you're seeking a luxurious estate or a high-end property, Prime Jumbo offers the flexibility and support you need. If you've found yourself unable to qualify for an agency loan due to the home's price, Prime Jumbo may be the perfect solution.

Program features

Loan amounts up to $2.5 million
Debt-to-income (DTI) ratio up to 45%
No Mortgage Insurance MI required
Minimum 20% down payment
Cash-out allowed

Why choose our Prime Jumbo?

Standard qualifications, no additional requirements
Delayed financing is available for up to 180 days
Gift funds are allowed

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Program details

Loan amounts up to $2.5 million

Debt-to-income (DTI) ratio up to 45%

No Mortgage Insurance MI required

Cash-out available

Owner-occupied and second-home properties

Standard employment and income verification

At least 6 months of reserves required for loans of $1.5 million or less; at least 9 months of reserves required for loans between $1.5 million and $2 million; at least 24 months of reserves required for loans over $2 million

Gift funds are allowed

At least 7 years after the credit event allowed

Single-family residence, PUD, warrantable condominium, 2-unit; acreage greater than 20 acres, agricultural zoning, and mixed-use are reviewed on a case-by-case basis according to Fannie Mae

15- & 30-year fixed terms available

Interest only not allowed

Available to Permanent Residents with a valid Social Security Number

Minimum borrower contribution is 20%

Prime Jumbo FAQ

What is a Jumbo loan?

Prime Jumbo loans are mortgages specifically designed for high-value properties. Conventional loans top out between $726,200 and $1,089,300, depending on the county. If you need a mortgage for something more expensive than Conventional loans can cover, a Prime Jumbo loan may be a solution.

Why should I consider a Jumbo loan?

There are many reasons why you might consider a Prime Jumbo loan, such as

– You are shopping for higher-priced property

– You have good credit, consistent income, and little debt

– You are a high-income earner with additional assets

– You want to buy an investment property

How do I qualify for a Prime Jumbo loan?

To qualify for a Prime Jumbo loan, you must have a minimum credit score of 680. Debt-to-income ratio requirements vary depending on the value of the home. You will also need to demonstrate a strong financial history. This means that when you apply, you will need copies of your bank statements and investment accounts. You will also need to provide a full tax return for the most recent year and other income and tax documents such as 1099s and W2s. Having a large amount of cash on hand may also improve your chances of qualifying for a Prime Jumbo loan.

What is the difference between a Prime Jumbo loan and a Conforming loan?

Each type of mortgage has a limit on how much someone can borrow for a particular property. Conventional loans, also called conforming loans, max out at a little over $600,000 in most areas. Prime Jumbo loans have much higher limits and are designed for high-value properties.
Prime Jumbo loans have stricter qualification requirements than Conforming loans, but A&D has flexibility.

What are the limits on a Prime Jumbo loan?

The maximum loan amount on A&D’s Prime Jumbo Loan is as high as $2.5 million.

What are the interest rates on a Prime Jumbo loan?

Prime Jumbo loan rates are competitive with Conventional loan rates. The interest rate will vary based on each borrower’s unique financial situation, the location and the type of property.

If I am a first-time homebuyer, can I get a Prime Jumbo loan?

Yes, you can. A first-time homebuyer is only eligible for a 30-year Fixed Primary Residence with a maximum loan amount of $2.5 million and a maximum debt-to-income (DTI) of 43%.

What types of homes can be purchased with a Prime Jumbo loan?

Applicants can use a Prime Jumbo loan to purchase a variety of property types, including primary and secondary residences.

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#Yes to self-employed

Second Mortgage

Min. Credit Score 680 Min. 15% Down Payment

Loan amounts up to $500,000
Debt-to-income (DTI) ratio up to 50%
Owner-occupied, second home, or investment property
Minimum credit score 680

1099

Min. Credit Score 620 Min. 15% Down Payment

1099 tax forms for the last 1 year
1-year history with the same employer
Gift funds allowed
Cash-out available