Luxury Home Financing in Newport Beach CA

Did you see in USA Today the other day about how Jumbo mortgage loans are so tough to get that it is keeping the housing market from recovering?  Well if you are looking for Newport Beach CA homes for sale, then you need to contact me because I have excellent loan programs up to $5,000,000 and higher.

Do you need more than a pulse to get a mortgage like that in Newport Beach CA or other luxury home markets?  Yes of course.  You actually have to have verifiable income that supports being able to make the payments, cash reserves and excellent credit scores, but if you do, I have Jumbo luxury home programs with as little as 20% down.  The higher up you get in purchase price and loan amount the more down payment you will have to come up with.  But the truth is there are funds available for qualified buyers/borrowers.

Which leads me to my next point – Don’t believe the media!  You’ve probably heard that before and say that you don’t, but be sure that you keep that in mind when you evaluate a story.  Have spent decades in the sports, tv and radio industries I have seen first hand countless times where the I knew what the real story was and then saw how wrong the media got it.  Put it this way, any article you’ve ever read regarding tv and radio audience ratings probably didn’t interpret those numbers correctly.

Anyway, back to Newport Beach CA homes for sale and luxury mortgages.  Just because the media says they aren’t available, doesn’t mean it is true.  As I mentioned, you do have to be well qualified.  But isn’t that a good thing?  All the prognosticators whining about how all these poor  people were misled into getting loans they couldn’t afford now are whining about how people can’t qualify for loans.  You can’t have it both ways as much as Barney Frank would like it!

So what does verifiable income mean.  It means you either have tax returns that show net taxable income that supports making the payments, or you don’t.  Oftentimes luxury home buyers and borrowers own their own business and in the guise of reducing their taxes, don’t show as much income as they could or should.  This could be short term thinking hindering a long term goal as if you’ve minimized your taxes by showing less income, that could mean you can’t get the loan you need to buy the house you want.

So if you or someone you know needs to learn more about Newport Beach CA homes for sale and the luxury financing it will take to purchase one, please have them contact me.  Thank you!