JUMBO LOAN PRODUCTS
PURCHASE | REFINANCE | CASH OUT | FIRST-TIME HOMEBUYERS
AMG has multiple Prime Jumbo products designed to help borrowers with different scenarios: purchase, refinance and cash out options.
PRIME JUMBO (15- OR 30-YEAR FIXED)
- Loan amounts up to $3M
- 680+ FICO and up to 45% DTI
- Up to 89.99% LTV and no MI required
- 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 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 80% 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 80.01-89.99%
- Loan amounts up to $1.5M
- 720+ 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)
*Appraisal waivers are not applicable on Prime Jumbo, Prime Jumbo Released, Prime Jumbo ARMs, Prime Jumbo Interest Only, Prime Jumbo Max and Prime Jumbo Max ARMs.