First time buyer in PA, jumbo loan?

Guest 0.10 Dollars($)

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 0.10 Dollars($)

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 0.10 Dollars($)

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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