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(310) 478-5005

Los Angeles Jumbo Loans

jumbo loans los angeles ca

While many properties available in Los Angeles, CA can be purchased with conventional loans, many others exceed the conforming loan limits specified by Fannie Mae and Freddie Mac. If this is the case for the home you are wanting to buy, then you will need to look for the best Los Angeles jumbo loan rates.

Purchasing a home with a Los Angeles jumbo loan is not all that different from buying one using a conventional loan, but there are a few distinctions:

  • You need two appraisals.
  • You may need a higher credit score, generally in the 700 and up range.
  • Your debt-to-income ratio should be no higher than 43%.
  • You might need to make a larger down payment, usually 15-30%.
  • You must have 6 months or more of cash in reserve for emergencies.

This does mean that qualifying and applying for a jumbo line may be a little more intensive than qualifying and applying for a conventional loan, but Pacshores is here to make the process smooth and easy. Many jumbo loans in Los Angeles have very reasonable interest rates and terms.

Do You Need a Jumbo Loan in Los Angeles?

In 2017, the median home value in Los Angeles is $626,800. Here are the conventional loan limits for Los Angeles county:

  • For 1 unit: $636,150
  • For 2 units: $814,500
  • For 3 units: $984,525
  • For 4 units: $1,223,475

As you can see, the conventional loan limit for a 1 unit property in Los Angeles is scarcely higher than the median home value. As a result, many Los Angeles home loans are jumbo loans. The majority of these are adjustable rate loans, but you will also encounter jumbo loans with fixed interest rates.

Pacshores Is Your Los Angeles Jumbo Loan Company

Many homebuyers are surprised when they realize that they are in the market for a jumbo loan, not a conventional loan, but in Los Angeles county, this is very common. In fact, here at Pacshores we work with a large network of lenders who provide Los Angeles jumbo loans at low competitive interest rates.

Many of our lenders are flexible and willing to offer exclusive discounts to the customers we refer, and may also be open to negotiating when it comes to FICO scores and loan terms. These exclusive opportunities are not advertised, and are only available through our network. Give us a call at 310-478-5005 and we will help you apply for a Los Angeles jumbo loan which will fit your needs.

Do you have questions?

Call us today (310) 478-5005 or fill in form below and we will get back to you as soon as possible.

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Client Testimonials

Thanks PacShores for coming through for me in the nick of time. After our Parents passed away and left the small apartment units that I was living in to me and my two siblings, they needed to get out their portion of the inheritance and were determined to force me to sell the units. I needed to keep the property for my family and avoid selling in such a down Market. My Income was low and the Banks refused to accepts the Rental Income from the other Tenants and to approve my loan. It wasn’t a problem when I contacted PacShores, they funded my loan in no time, paid off my siblings, hassle free, and I am very glad I found them.

Tony – Orange, California

 

I took over some Apartments that my Dad owned and had been renting out over the years. Some of the tenants had been there for 10 years and more, the Properties have gotten in disrepair, and the County had also filed substandard violation Liens on the Properties. All the Lenders that I had applied to for a Cash-Out Loan, turn down my application due to the condition of the Properties. With the help of the Loan Officers at PacShores, we were able to customize a loan for me that set aside funds to complete the needed repairs, and clear up all the Substandard Notices and Liens on the Properties, and the extra cash that I needed.

Tracy – Los Angeles, California

 

Hi, I am Real Estate Broker, and Short Sale specialist, and I had very well qualified Buyer with almost 50% cash down payment, under contract on a highly discounted Investment Property purchase. After 3 weeks of getting the runaround with their Bank including my regular Lenders that I normally use, I was convinced they would lose out on this great deal. Luckily an associate referred me to PacShores Mortgage, and within 24 hours they drove buy the property, and had Closing Documents in Escrow by the third day and funded the loan right after. They saved this deal for us. I couldn’t thank them enough and would use and recommend them to all my associates in the future.

Javier – West Covina

 

Hello, our Credit Scores had become so low after we went through a Loan Modification process and Short Sale on our previous house. Thereafter, we couldn’t find a Bank willing to consider us for a new Home Loan, even though we had substantial funds for a Down Payment. The folks at PacShores Mortgage were very understanding and glad to review and approve our loan application. Thanks to them, we are proud owners of a new, more affordable four Bedroom house again.

Susan – Fresno, California

 

My wife and I own a successful and profitable Business, and also own a number of Rental Units. Due to the Freeze in Bank Lending we decided to refinance one of the Rental Units we own outright, to access the credit we need to efficiently run our Business. Unfortunately due to the write-offs we show on our Tax Forms, the Banks we contacted were misreading our Income and cash flow and declined to approve our loan application. Our experience was different at PacShores, the easily identified our true Income and approved our loan promptly, and we didn’t even need to provide them any Tax Returns.

Cindy – San Diego, California

 

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(310) 478-5005

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NMLS: 366402
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