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Mainland Mortgage is one of the FEW lenders that still have Jumbo and Portfolio products available! See some important details below. Call 800-777-8856 for a free consultation. All loans based on Libor + 2.75% margin. 2/2/6 Adjustment caps. Loan Terms Available 1/1 ARM 3/1 ARM 5/1 ARM LTV Table Single Family Detached Purchase & Rate/Term Refi 80% $1,000.000 Foreign Nat’l 70% 75% $1,500.000 70% 70% $2,000,000 65% 60% $3,000,000 50% Townhomes at 5% reduction in LTV. Condominium (Case by Case) 60% $650,000 Foreign Nat’l 60% 55% $1,500.000 55% 50% $2,000,000 50% 50% $3,000,000 50% *Max DTI 40%. Exceptions MAY be made with very high reserves and lower LTVs. *2nd Homes available on case by case basis only, some restrictions in LTV may apply. *Interest only is not offered, full amortization only. *Escrows not required but DTI will include Full Housing Expense. *Full appraisals required on all files. Loan amounts over $1,500,000 may require review or 2nd appraisal. *All condominiums require full condo approval package (condo questionnaire, budgets, reserves required.) *Cashout Refi on case by case. Cashout amount restrictions may apply.
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