Jumbo loans are coming back, including to Arizona.
Here are the requirements for Arizona jumbo loans from one Arizona loan officer.
- 90% Loan-to-value (only 10% down payment!)
- Credit scores allowed down to 680 middle FICO
- Bankruptcy seasoning of 2-4 years depending on circumstances
- Loan amounts up to $3 million
- One one appraisal required for loan amounts up to $2 million
- No first time homebuyer restrictions
- Up to 9% seller concessions
Although, some loans have become harder to get because of the new QM rules and lower FHA loan limits, the number of jumbo loans has actually increased.