Looking at houses around $800k. Just got introduced to the idea of a jumbo loan…. I have about $125,000 in equity in my current house, which will probably be closer to $100k by the time closing is done. My local lender is requiring 20% down on a jumbo loan, which I don’t have. My first question is—does anyone know of a lender who doesn’t require 20% on a jumbo? Second, I have about $100k equity in a rental property but lender requires 40% down on investment properties for a HELOC. Help!

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Look into an 80/10/10 jumbo loan, which only requires 10% down. Some community/regional banks will originate and portfolio them.

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Cont’d: basically I have all of this money tied up in real estate. If I saved for 6 months, I could have about $30k saved up and will get a $30k bonus next Feb…. Do I just need to be patient or do I need to find a different lender?

You could get a JD loan if you’re an attorney. We just bought a house with a jumbo loan, but unfortunately put down the 20%

Thanks for the insight. Appreciate you sharing (:

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