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Jumbo Loans in Manhattan Beach
Manhattan Beach sits in the top tier of California coastal real estate. Most homes here require jumbo financing because they blow past the $766,550 conforming limit.
The beachfront and walk-street properties regularly trade above $3 million. Even tear-downs in less desirable blocks often start at $1.5 million, putting conventional loans out of reach.
Expect lenders to want 700+ credit and 20% down minimum. Many require 25-30% down on loans above $2 million, especially for non-owner occupied properties.
Income documentation is stricter than conforming loans. You'll need two years of tax returns, W-2s, and reserves covering 12-24 months of payments depending on loan size.
Jumbo loan pricing varies wildly between lenders. A credit union might beat a big bank by 0.5% on the same borrower profile, which matters when you're financing $2-4 million.
Our network includes portfolio lenders who keep loans in-house and wholesale banks competing for high-net-worth clients. That access means we can find better terms than retail bank branches.
Manhattan Beach buyers often have complex income streams: stock comp, bonuses, K-1 distributions, rental properties. Finding a lender comfortable with that mix takes experience.
Lock timing matters in this market. Rate movements on a $3 million loan mean $1,500+ monthly payment swings. We watch the bond market daily to time locks strategically.
Some borrowers split financing into a conforming first and second mortgage to avoid jumbo rates. This piggyback structure can work below $1.5 million but gets expensive higher up.
ARMs often price better than fixed jumbos in Manhattan Beach. A 7/1 ARM makes sense if you plan to move within a decade, which many buyers do as families grow or downsize.
Appraisals can slow deals in Manhattan Beach because comps vary dramatically by block and beach access. Walk-street premiums and ocean views make every property unique.
Foreign nationals buying second homes here face higher down payments, typically 30-40%. Lenders view non-resident buyers as higher risk even with strong assets.
Anything above $766,550 is jumbo in Los Angeles County. Most Manhattan Beach homes fall well into jumbo territory given local pricing.
20% is minimum but many lenders want 25-30% on loans above $2 million. Higher down payments unlock better rates and easier approval.
Expect 12 months minimum, often 24 months on loans above $3 million. Reserves include liquid assets like savings, stocks, and retirement accounts.
Yes, but lenders discount RSUs and options based on vesting schedule. Two-year history of equity comp strengthens your file considerably.
Not always. Strong borrowers often get jumbo rates within 0.25% of conforming. Your credit profile matters more than loan size for pricing.
Most do if the project is lender-approved and financially stable. Smaller complexes under 10 units sometimes face stricter scrutiny.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.