Comprehensive Jumbo Loan Solutions
Swiftly Loans Inc. offers a diverse range of jumbo loan products tailored to fit various borrower needs.
30-Year Fixed-Rate Loans
- Loan Amounts: Starting from $400,000 up to $3 million
- Credit Score: Minimum FICO score of 660 for up to 49.99% DTI and 80% CLTV; 700+ FICO score for up to 89.99% CLTV
- Reserves: 6 to 24 months, based on loan amount and property type
- Property Types: Primary, second, and investment properties
- Cash-Out Refinances: Additional reserves and potentially two appraisals may be required
- Temporary Rate Buydowns: Available for purchases and refinances of primary and second homes (not available for cash-out refinances)
15-Year Fixed-Rate Loans
- Loan Amounts: $600,000 up to $3 million
- Credit Score: Minimum FICO score of 700
- Debt-to-Income (DTI): Up to 45%
- Loan-to-Value (LTV): Up to 80%
- Eligible Uses: Primary home purchases, rate/term, and cash-out refinances
- Reserves: Determined by DU/LPA findings
- Temporary Rate Buydowns: Not permitted
Adjustable-Rate Mortgages (ARMs)
- Loan Amounts: Up to $3 million
- Credit Score: Minimum FICO score of 680
- Debt-to-Income (DTI): Up to 45%
- Loan-to-Value (LTV): Up to 80%
- Terms: 5-, 7-, and 10-year ARMs
- Property Types: Primary, second, and investment properties for purchases, rate/term, and cash-out refinances
- Appraisal Requirements: One appraisal needed for loans up to $3 million, two appraisals for loans over $2 million
- Reserves: Additional reserves may be required
Prime Jumbo Max ARMs
- Terms: 7- and 10-year fixed terms
- Loan Amounts: Up to $3 million
- Credit Score: Minimum FICO score of 700
- Debt-to-Income (DTI): Up to 43%
- Loan-to-Value (LTV): Up to 80%
- Property Types: Primary and second homes for purchases, rate/term, and cash-out refinances
- Reserves and Appraisal Requirements: More stringent for higher loan amounts
- Temporary Rate Buydowns: Available on primary and second home purchases
Products for California's Real Estate
Swiftly Loans Inc. Interest-Only Payment Programs
Interest-only mortgages allow borrowers to pay only the interest on their loan for a set initial period, typically 5 to 10 years. This means lower monthly payments during the interest-only phase, providing greater financial flexibility. Benefits include the ability to manage cash flow more effectively, invest the payment savings elsewhere, and afford a more expensive property initially. Ideal for those anticipating higher future income or planning to sell the property before the repayment period starts, interest-only mortgages offer a strategic option for savvy financial planning.
- Loan Amounts: Up to $3 million
- Credit Score: Minimum FICO score of 700
- Debt-to-Income (DTI): Up to 43%
- Loan-to-Value (LTV): Up to 80%
- Terms: 30-year fixed-rate with a 10-year interest-only period followed by a 20-year amortization period
- Eligible Uses: Primary and second home purchases and rate/term refinances
- Appraisal Requirements and Reserves: Similar to other jumbo products
