JUMBO LOAN PRODUCTS
IQ Capitol Group has multiple Prime Jumbo products designed to help you win more loans vs. big banks and retail lenders. Each is tailored to borrowers with different circumstances — however, they all have a few similarities:
- Loan amounts starting at $1 over the county loan limit
- No MI required
- Run through DU, receive an approve/ineligible response and submit to IQ Capitol Group
- Restricted Stock Unit (RSU) income accepted
- Available on Texas Conversion loans
With Prime Jumbo, IQ Capitol Group will exclusively service the loan, maintaining borrower solicitation protection. Prime Jumbo Released, ARMs, Interest Only, Max and Max ARMs products are sold immediately and can be sold multiple times to different investors. There is no borrower solicitation protection on these products, which typically results in a savings passed directly to the borrower.
When choosing a jumbo product, take your borrowers’ unique priorities into account. Then, reference this helpful comparison to find the pricing and loan experience they’re looking for:
PRIME JUMBO (15- OR 30-YEAR FIXED)
- Loan amounts up to $3M
- 680+ FICO and up to 45% DTI
- Up to 89.99% LTV
- IQ Capitol Group services these loans exclusively
- Borrower solicitation protection
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for purchases up to $3M and refinances up to $2M*
- Two appraisals from two different appraisers required for refinances over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
- Seller- and lender-paid Temporary Rate Buydowns available on primary and second home purchases for 30-Year Fixed
PRIME JUMBO RELEASED (30-YEAR FIXED)
- Loan amounts up to $3M
- 680+ FICO and up to 45% DTI
- Up to 89.99% LTV
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for loans up to $2M*
- Two appraisals from two different appraisers required for loans over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO ARMS (5-, 7- AND 10-YEAR)
- Loan amounts up to $3M
- 680+ FICO and up to 45% DTI
- Up to 80% LTV
- Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
- One appraisal required for purchases up to $3M and refinances up to $2M*
- Two appraisals from two different appraisers required for refinances over $2M*
- Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO INTEREST ONLY (30-YEAR FIXED)
- Loan amounts up to $3M
- 700+ FICO and up to 43% DTI
- Up to 80% LTV
- 10-year interest only, 20-year amortization period
- Eligible for primary and second homes for purchases and rate/term refinances
- One appraisal required for purchases up to $3M and refinances up to $2M*
- Two appraisals from two different appraisers required for refinances over $2M*
- Loan amounts up to $1M require 12 months of reserves in addition to any reserves required by AUS
- Loan amounts over $1M require 24 months of reserves in addition to any reserves required by AUS
PRIME JUMBO MAX (30-YEAR FIXED)
- Loans up to 85% LTV
- Loan amounts up to $2.5M
- 700+ FICO and up to 43% DTI
- Eligible for primary and second homes for purchases and rate/term and cash-out refinances
- One appraisal required for loans up to $1.5M*
- Two appraisals from two different appraisal companies required for loans over $1M*
- For primary purchase loans up to $2M—9-12 months of reserves required
- For second home loans over $2M-24 months of reserves required
- For primary cash-out loans up to $2M—12 months of reserves required (up to $300,000 cash back)
- For primary cash-out loans between $2M-$2.5M—24 months of reserves required (up to $500,000 cash back)
- For second home cash-out loans up to $1M—12 months of reserves required (up to $300,000 cash back)
- For second home cash out loans between $1M up to $1.5M—18 months of reserves required (up to $300,000 cash back)
- Loans with an LTV between 85.01-89.99%
- Loan amounts up to $1.5M
- 700+ FICO and up to 40% DTI
- Eligible for primary purchases and rate/term refinances
- One appraisal required for loans up to $1M*
- Two appraisals from two different appraisers required for loans over $1M*
- For primary purchase loans up to $1.5M—12 months of reserves required
PRIME JUMBO MAX ARMS (7- AND 10-YEAR FIXED)
- Loan amounts up to $3M
- 700+ FICO and up to 43% DTI
- Up to 80% LTV
- Eligible for primary and second homes for purchases, rate/term and cash-out refinances
- One appraisal required for loans up to $1.5M*
- Two appraisals from two different appraisers required for loans over $1.5M*
- For purchase and rate/term refinances
- For primary purchase loans up to $3M—6-18 months of reserves required
- For second home purchase loans up to $3M —12-18 months of reserves required
- For cash-out refinances
- For primary cash-out loans up to $1.5M—12 months of reserves required (up to $250,000 cash back)
- For primary cash-out loans between $1.5M-$2M —15 months of reserves required (up to $500,000 cash back)
- For second home cash-out loans up to $1.5M—12-18 months of reserves required (up to $250,000 cash back)
- For second home cash out loans between up to $1.5M-$2M—18 months of reserves required (up to $500,000 cash back)
