Super Jumbo Commercial Loans
Sometimes traditional loans are just not enough to purchase a commercial property that you had been looking for. At this point, jumbo loans and super jumbo loans can be the right fit while purchasing some commercial property. Custom Mortgage provides a wide range of super jumbo loan programs for the borrowers looking to finance the purchase of some investment property. Getting a loan amount of around $25 million, super jumbo mortgage commercial loans come with flexible terms and better super jumbo mortgage rates.
Custom Mortgage excels in offering super jumbo mortgage and other financing services backed by professional lenders who have been into the financing industry for decades. We have been offering super jumbo commercial loans up to $5 million to finance investment properties with a vast set of mortgage options at exciting super jumbo mortgage rates that perfectly caters to the borrower’s needs. Our specialists work precisely to understand every borrower’s unique needs and provide them exceptional loan services that fit their financial situation perfectly.
Other Multifamily Loan Programs
Additional Apartment Financing Options
Benefits of a Super Jumbo Loan
A loan becomes a jumbo loan when it is exceeding the conforming loan limit of $484,350 in the majority of the US countries, which is set by Fannie Mae and Freddie Mac.
The prime reason that makes jumbo and super jumbo loans a preferable choice is it provides the flexibility of borrowing with fewer restrictions. From investment properties, vacation homes, to primary residences, financing through a super jumbo loan can be an ideal choice for borrowers.
With tailored options and flexible super jumbo mortgage rates, these loans offer a comprehensive range of benefits to the borrowers.
Loan amounts up to $25 million and above
Underwriting flexibility
Interest-only options
Portfolio loan options
Wide range of loan programs
90% financing on purchase loans
Super Jumbo Mortgage Mitigants
LTV: Going for super jumbo commercial loans, you can expect lower Loan to Value (LTV) limits, it would be above $1,500,000. A typical super jumbo loan LTV ranges from 50% to 80% based on credit score and loan amount.
Credit Scoring: Since 2002, the credit score requirements have become quite flexible. However, credit score standards still remain tough. So, borrowers with a good credit score can apply for a super jumbo loan, while the ones with a low credit score are left with only one option- super jumbo hard money.
Interest Rate: Availing for a super jumbo loan comes with higher interest rates. Lenders charge higher interest rates to the people applying for a super jumbo loan as compared to a conventional jumbo loan. Below $1,000,000, the super jumbo mortgage rate is around half percent of an equivalent jumbo mortgage interest rate and above $2,000,000 rates are around 1% to 2% or even higher.
Super Jumbo Loan Features
Additional options available via portfolio loans
Up to 90% financing on specific purchase loans
Loan amounts of $25 million or above are considered
Programs with interest-only options
Non-resident alien programs available
Availability of fixed and adjustable rates
Purchase, refinance, and construction options available
Qualifying for a Super Jumbo Mortgage
As the scope of risk is higher for the lenders in case of super jumbo loan programs, underwriting criteria for a super jumbo loan becomes even stricter than other kinds of loan programs.
To qualify for a super jumbo loan, you need to have a credit score of more than 700.
To make sure that the borrowers don’t become over-leveraged, lenders also require a debt-to-income (DTI) ratio. The majority of the lenders set the DTI rate of 45%.
The borrowers must have ample cash reserves to give surety to the lenders that they are capable enough to make the mortgage payments for at least one year.
To present a healthier financial balance, the borrower needs to provide full tax returns, W-2s, bank statements, details about any investment accounts, and 1099s while applying for a super jumbo loan.
Why People Rely on Custom Mortgage?
Dexterous team of professionals who have a good hold over and experience in the financing industry.
Having a proven track record of dealing with diverse financial and loan services for global customers.
Loan underwriters who clearly understand and cater to complex financial situations.
Fixed and adjustable-rate mortgage with interest-only loan options.
We offer a comprehensive range of super jumbo loan programs via jumbo loan product that includes asset utilization, pledged assets up to 90% of property value and cross-collateralization up to 100% of the property’s value.
