Texas Jumbo Loan 95%

Five Stars is happy to offer jumbo mortgages for Texas home buyers with loan-to-value ratios up to 95%. The Texas Jumbo Loan 95% offer both fixed interest rates and ARM’s with no private mortgage insurance.

The new jumbo loan program is targeted to creditworthy buyers who want to limit their down payment to 5% of the purchase price. The minimum loan amount for the new program is $806,500 and the maximum is $1,350,0000.

The program is available to qualified applicants in Texas with a credit score of at least 680. The buyers must also have some saving reserves and manageable debt-to-income ratios per the latest Jumbo guidelines.

• No PMI mortgage insurance (can save you up to $400 a month PMI) on loans up to 95% of the value of your home.
• Great for refinancing existing high-cost loans and getting rid of your current mortgage insurance
• Purchase with only 5% down payment – great for doctors, physicians, attorneys and other professionals that have the income but lack of savings.
• 95% financing to $1.35m with no PMI with scores of 680+.  Choose from 1 single loan or an 80/15/5 combo mortgage. Great for higher cost areas like Dallas, Houston, Fort Worth, San Antonio, Austin, etc.
• Interest rates as low as conventional loan products
• Zero Closing Costs option available
• Conventional loans can still be offered up to $806,500 with a minimum score of 620
• This new Jumbo Loan is for owner-occupied, purchase and rate term transactions. Financing is available for 1 Unit Single Family Residence, Attached or Detached Housing and warrantable condominiums.

Please also note the following options for buyers that have 10% + down payment

• 90% LTV:  Up to $2,400,000 with 700+ credit score.
• 85% LTV: Up to $3,250,000 with 720+ credit score.

Why the 95% Jumbo Loan? There are a few reasons why a home buyer may want to only put down 5%  – even if they have more money saved:

Questions? Please connect with us 7 days a week by calling the number above. 

• Updates and Home Remodeling – Some houses need updating; by only putting down 5%, you can save the rest of your money for needed remodeling. Or maybe use the money for new furniture or other improvements.
• Lack of down payment due to sale of current residence – while the real estate market has seen a marked improvement, home values in some markets are still well below their all-time highs; so if you are making a lot less on the sale of your current residence, this program helps you get into a new home now to take advantage of low-interest rates and home prices that are still below their all-time highs set years ago.
• Keeping savings in higher yield investments – check with your financial advisor, but sometimes it makes sense to put less down and keep your money working for you.

Five Stars Mortgage is a leader in Jumbo loan info, serving home buyers 7 days a week.  If you have questions about the latest lender requirements, please submit the “Request Contact” form at the top right side of your screen, or call us above.

Serving buyers in all Texas:  Houston, San Antonio, Dallas, Austin, Fort Worth, El Paso, Arlington, Corpus Christi, Plano, Laredo, Lubbock, Garland, Irving, Amarillo, Brownsville, Grand Prairie TX