We have a new office location at 106 2nd Street East in Whitefish! And it’s JUMBO JANUARY.
Jumbo means any loan over $453,100.
What do you need to know about jumbo loans? Jumbos are DIFFERENT. Everything you know about closing regular loans is different when you get into the jumbo world.
The borrowers are different and the way you get the loan is different. How?
Appraisals are different. Why is this property worth $2 million? The appraiser and lender need to know different things to get that high value. Sometimes we might have to get 2 appraisals.
Qualifying is dramatically different. These borrowers may have millions of dollars, but may be really good at filing their taxes and not look like they make millions on their tax returns. We need to give them the best look to the lender. Do these borrowers make money like everyone else?
But at Black Diamond Mortgage we CLOSE jumbo loans. If you need to borrower a lot of money this year, give us a call.