Lender Panel Discussion – Follow Up
This event was held at The Greater Kalamazoo Association of Realtors on May 21st, 2015
Moderator: Jeremy Drobeck, Amerifirst Home Mortgage
Panelists:
- John Denny, Northpointe Bank
- Scott Cowherd, Kalamazoo Mortgage
- Steven Woloszyk, PrimeLending, A PlainsCapital Company
Attendees learned about underwriting concerns, tools & tips for credit integrated disclosures coming Aug. 1st, red flag items, and much more.
Coordinated by the GKAR Education Committee
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Jumbo vs Conventional Loan
JUMBO LOAN VS. CONVENTIONAL: WHAT KALAMAZOO MOVE-UP BUYERS MUST KNOW
Are you shopping for a luxury executive home or a custom build in Texas Township, Portage, or Richland?
Yesterday, a move-up buyer walked into my office after touring a gorgeous five-bedroom home near Texas Corners. The listing sat well above their previous starter home price point, and they were trying to calculate their down payment strategy.
They asked me, “Jeremy, at what price point does our mortgage switch from a standard Conventional loan into a Jumbo loan? Do Jumbo loans require massive 20% cash down payments?”