Some exciting changes have happened with the Summit Jumbo Program for home buyers! (effective with loans locked on or after 09/15/17)
The Summit Jumbo Program is now available as an 80% LTV and 95% LTV
- Important Highlights:
- Up to $1M loan amount
- Maximum 38% DTI on LTVs over 90%
- Loan amounts increased on 95% LTVs to $636,150
- Fully executed current lease from unrelated non-arm’s-length third party (month-to-month is not acceptable)
- A 10% value variance between full appraisal value & Desk Review value is acceptable. A second full appraisal is considered ineligible.
If you’re interested in finding out more about these changes and to review your options, click Here to get started.
This communication is for informational purposes only, this is not a commitment to lend. All loans are subject to buyer and property qualification. All programs, rates and fees are subject to change or cancellation at any time and without notice. Contact Summit Funding, Inc. to learn more about mortgage products and your eligibility.