First time buyer in PA, jumbo loan?

Guest

I am a first time buyer, purchasing a condo (townhouse) in Philadelphia. I am looking for a fixed loan with 10% down if possible, loan amount around $650000. Credit score around 760, employed and can document income. I can do a jumbo or a conforming and a second. Is anything like this available in the current economic climate? Thanks.

Guest

I can help with your mortgage.

Marty

[Email address and promotional text deleted as per forum rules. Thanks.]

gmakerley · Posted: Wed Sep 24, 2008 10:31 am Post subject:

bluray please ignore marty the mortgage "guy" - direct solicitation is not allowable under the guidelines that this website sets. you'll be doing us all a favor by working with a reputable lender.

to answer your question...yes, you will find that 90% financing available. one thing to watch for - is this truly a condominium or not; and if so, ask your realtor if it is fnma warrantable. if not, this will limit your financing options.

brian1 · Posted: Wed Sep 24, 2008 11:15 am Post subject:

agree with George on both
Marty is someone I would not trust to follow the rules here or on a mortgage
and
You need to find out if the condo is approved.While you may be able to get approved condo's are tricky

Guest

Thank you for the tips...my understanding is that it is definitely classified as a condo. I have a lead on a first and second mortgage that overall gives me a significantly better rate than any jumbo I've seen. Just hoping that it all comes through. Thanks again for your assistance!

jerry · Posted: Thu Sep 25, 2008 2:29 am Post subject:

Hi BluRay!

You are always welcome. Hope this information will help you. If you have further queries, you can discuss it in the forum.

Thanks,

Jerry

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