taylor@lowcountryhomeloans.com
843.800.0178
Second Home
Summary
There are many reasons for refinancing your home. Refinancing your mortgage can be used to reduce monthly payments, consolidate debt, or access home equity. We are here to listen and help achieve your goals!
Available Programs
-
Lower Payment:
Reduce your monthly payments by lowering your interest rate. It is great for saving, reinvesting the savings, planning for retirement and improving your financial security.
- Take Cash Out:
Leverage your home’s equity and consolidate your debt. Or use the equity to renovate your home or reinvest in a new property and other investments.
- Shorten Loan Term:
Payoff your loan sooner by lowering your loan term. This is great for saving thousands of dollars in interest over the life of the loan and becoming mortgage-free!
Programs
Jumbo Loan
We offer jumbo financing for loan amounts greater than the conforming limit of $548,250. 3.5% down up to $1.5 Million & 5% down up to $2 Million!
Qualifications
| Minimum Down Payment | 3.5% |
| Minimum Credit Score | 620 |
| Max Debt-To-Income Ratio | 55% |
| Non-Occupant Co-Borrower | Allowed |
| Mortgage Insurance | No |
| Eligible Property Types | Single family residence, 1-4 unit, PUD's, townhouse, condo, non-warrantable condo, and contels. |
| Max Loan Amount | $10,000,000 |
Super Jumbo Loan
We offer jumbo financing for loan amounts greater than the conforming loan limit.
Qualifications
| Minimum Down Payment | 40% |
| Minimum Credit Score | 680 |
| Max Debt-To-Income Ratio | 50% |
| Non-Occupant Co-Borrower | Allowed |
| Mortgage Insurance | No |
| Eligible Property Types | Single family residence, 1-4 unit, PUD’s, townhouse, condo, non-warrantable condo, and condtels. |
| Max Loan Amount | $10,000,000 |
| Reserves | 12-24 Months (based on loan amount) |
| Occupancy Type | Primary, Secondary, and Investment |