High Balance Loans

High Balance Loans exceed the conforming loan limit and is generally limited to $679,650 for a single family home or condo; however, higher loan limits apply to 2-4 units.  This fixed- and adjustable-rate product accommodates borrowers that are financing properties in areas that are published to be in a high-cost area.

 

Lending Criteria Description
Purpose:
  • Purchase and Refinance
Property Type:
  • Single Family Residence (1-4)
  • Condominium
  • Townhomes
  • Planned Unit Developments
Max Loan-to-Value:
  • Purchase:  Fixed: 90% / ARM: 90%
  • Refinance:  Fixed: 90% / ARM: 90%
  • Cash-out:  Fixed: 75% / ARM: 75%
Minimum Credit Score
  • 620
Prepayment Penalty
  • None
Maximum Debt-to-Income (DTI)
  • 45% – 50%
Recourse
  • Yes
Broker Fee
  • None
Terms:
  • 10 / 15 / 20 / 25 / 30-Years Fixed
  • 5 / 7 / 10-Years ARM’s
  • 5 / 7 / 10-Years ARM’s – Interest Only
Loan Amounts
  • $453,100 – $679,650
Closing Timeframes
  • 45 – 60 days
Amortization
  • 10 / 15 / 20 / 25 / 30-Years
Collateral
  • 1st Trust Deeds
Other Costs
  • All 3rd Party Fees
This information is NOT a loan approval or commitment to lend. The actual loan amount, interest rate, fees, costs and monthly payment on your specific loan transaction can vary and will depend on your choice of loan product and your unique credit profile. Loans (in CA) will be made pursuant to BRE License #02001852 & NMLS License #1463667. Loan Brook, Inc. is an equal housing lender