The conforming limit varies by location. In most housing markets and South Florida, it's $417,000, and any
mortgage more than that is a jumbo.

Beginning in August 2007, a credit squeeze scared lenders away from the jumbo market.
Jumbos gradually returned, but with tougher requirements. To qualify for a jumbo mortgage
today, you should expect:

•        To make a down payment of at least
5 percent for a purchase
•        To document your income.
•         Bluecastle Lending offers both 30 year fixed jumbo loans and adjustable rate

Interest rates on deposits are low nowadays, so banks can profit on jumbo mortgages
even when they offer them at low rates. But rates paid on deposits will rise someday.
So banks push jumbo ARMs whose rates will rise when rates paid on deposits go up.

The most common jumbos are 5/1 ARMs, which have an introductory rate that lasts five
years, then adjusts annually thereafter. Another popular option is the 7/1 ARM. When
the adjustment period comes, most of today's jumbo ARMs will move in relation to the
1-year Libor, although some are indexed to the one-year Treasury.

With few exceptions, jumbo borrowers have to furnish financial records documenting that they earn what they
say they earn. We require borrowers to fully document two years of income history and to have credit scores of
700 or higher.

Among the most competitive 30-year fixed rates in the industry, Bluecastle Lending offers incentives on all
purchase transactions. From primary homes to investment properties, Bluecastle Lending provides jumbo loans
up to 90% LTV with no PMI, with clear, hassle-free guidelines.

•        Eligible for primary, secondary and investment properties
•        FICOs as low as 700
•        Up to 9
5% LTV with no PMI
•        Up to 50% DTI with 80% loan to value
•        Loan amounts up to $3,000,000
•        Fixed rate and ARM loans available

For information on this program contact Bluecastle Lending at 954-8
email Bluecastle Lending is an Equal Opportunity Lender
Equal Opportunity Lender
Florida Closing Cost Assistance - CCAP