NMLS ID:1747872

 

 

 

© 2018  BEACON POINT MORTGAGE SOLUTIONS, LLC 

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Terms of Use 

LOAN PROGRAMS & RATES expressed are representative of some product offerings but are subject to CHANGE at anytime.

*Florida Second Home Specialist is not a state designation nor a Florida State endorsement.

“THIS PRODUCT OR SERVICE HAS NOT BEEN APPROVED OR ENDORSED BY ANY GOVERNMENTAL AGENCY, AND THIS OFFER IS NOT BEING MADE BY AN AGENCY OF THE GOVERNMENT.” 

Instead this service reflects the scope of our work and commitment to make it easy for out of state residents to finance a second residence in Florida.

 

Call us! 800-466-0664

Jumbo Loans

Ask about Beacon Gold 5% Down or 95% LTV

What are Jumbo loans? They are non-conforming loans, loans that exceed the maximum loan amount set by government guidelines of  the Federal Housing Finance Agency (FHFA). Since the Agency has recognized that real estate markets  varying geographically  by demographics of income and number of people in the household and sale prices of homes, some being situated in  higher-cost real estate markets such as New York and San Francisco, one must look at the FHFA chart by County look-up in order to determine whether ones property is subject to the max and what the maximum lending limit is in that county. 

 

If you find that the property that you own or are shopping for exceeds the agency limits, then you will be shopping for a JUMBO LOAN, or a NON-Conforming loan. Non-conforming loans are of course subject to the sensitivity of lending risks born by its investors. Some investor are more risk adverse than others. Investors minimize their risks in extending financing based upon the collateral value and the strength of the borrower's credit scores. Often a borrower doesn't escape the  rigors of Full Documentation of Income and Valuation review. Some lenders may even require two appraisals just to guarantee themselves that the opinion of value is reliable. 

Fortunately for the past two years the Federal Housing Finance Agency has consecutively increased the loan limits especially in certain certain “higher-cost areas” that are above the National baseline. 2017 Baseline limit was  set  to $424,100. the 2018 maximum conforming loan limit for a single-family home is $453,100.

Our job as your mortgage broker is to make you look attractive on paper and fit your credit history and individual profile into the box. If the property you own or are purchasing calls for a loan amount in excess of the set limits, Beacon Point Mortgage has many individualized non-conforming loan products to meet your demand.  Beacon point is your broker for safe lending  options with a sea of alternative financing solutions. Check-out our 95% LTV Jumbo. 

The great thing about our mortgages is that we offer HIGH BALANCE, non-Jumbo  Loans without the usual required  required Private Mortgage Insurance (PMI) dictated by most conventional financed loans. 

Beacon Baby Jumbo- High Balance Nationwide

Max 90% LTV

Beacon 

Point -1

We offer conventional high balance loans up to 90% LTV featuring  exclusive M.I. Buyouts to all of  borrowers nationwide — even those outside of the counties eligible under Fannie Mae and Freddie Mac — instead of having to opt for a Jumbo loan. Details include:

  • Mortgage Insurance Buyout is typically cheaper than Lender Paid PMI with no M.I. certificate needed.

  • Purchases up to 90% LTV; refinances up to 80% LTV

  • Min 680 FICO; Max 43% DTI

  • Loan amounts from $453,101–$679,650

  • Better rates, easier guidelines and faster turn times than traditional  Jumbo Loans.

  • Automated Pre-Approvals.

  • Eligible for primary and second homes

Conforming in all material respects except for loan amount in certain markets.

 Full Documentation or

No Income Tax Returns

NO PROBLEM!

The county's location of  property dictates the Jumbo limits for most conventional financing. See your county's jumbo limit here! 

Beacon Jumbo Elite

Max 90% LTV

Beacon

Point -2

Jumbo Elite to the rescue.  Time is of the essence for all borrowers, especially those  under contract to close. You need a high balance loan? Beacon Point can offer you the most competitive rates and close your High Balance loan in record time! Beacon Jumbo Elite details include.

  • $453,100+ loan amount

  • LTV's as high as 90%

  • 640+ FICO

  • Underwriten to Agency findings (set government approval conditions)

  • Available in all 50 states, both fixed and ARM loans

You need a Jumbo 

NO PROBLEM

Finance up to  $679,650 with Beacon Point Jumbo Elite without the hassles of Jumbo underwriting! Better Rates, Better Pricing, No Reserves.No flexible guidelines

Beacon Jumbo Gold-

5%  Down 

95% Equity

Beacon

Point -3

We have lenders on board who are offering you Gold for Nickle  with  near prime options offered to owner-occupied borrowers as a solution to looking to purchase with a low down payment or refinance with limited equity. FICO SCORE requirements are primary determinative factor to eligibility.  Minimum FICO:  620.

 

  • Purchases up to 95% LTV, Borrower subject to Full Documentation Review.  if borrower can't document income then loan is underwritten based on  Bank Statements  to verify income. Max LTV is 90% for No Income Tax Return clients.

  • Refinances  eligible up to 95% LTV  for full doc and max 90% LTV for non full doc clients.

  • High Balance available: (Max  $2.5 Million subject to LTV requirements).

  • Relaxed seasoned default restrictions: based on 3+ years removed from housing default, or 3 Years from Bankruptcy Discharge.

  • Gift funds eligible for entire down payment on purchases evaluated on a case by case basis.

  • Refinance Cash Out Proceeds to $1 Million

  • Fixed, Arm and Interest Only options available

  • Any Interest Only Option is amortized over 30 to 40 year term with first 10 years interest only payments..

  • 5 Million Loan Max with 60% LTV and FICO Score over 700.

 Full Documentation or

No Income Tax Returns