A poster on the Mortgage Grapevine is looking for a jumbo loan on a single-family property in Washington. The amount sought is $670,000 and it will be used to pay off existing first and second lien loans. The second lien line of credit is six years old, but has not been drawn upon in a year.
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The borrower has 25% equity in the property, a debt-to-income ratio under 35% and 24 months of reserves.
However, the credit score is 690 and the poster’s jumbo funding sources will not do below 720. So the poster is seeking a lender. To learn more go to
