AC-006 Preferred Jumbo Improved Matrices
FLCBank is pleased to announce a number of improvements made regarding LTV, Loan Amount and Reserves requirement on the Preferred Jumbo Product which will be available on Monday, February 7, 2022.
Improvements on the Fully Amortized ARMs
Primary Residences Purchase and Rate and Term Refinance
• Loan amounts up to $647,200 require only 6 months reserves
• LTV increased from 60% to 65% for loan amounts greater than $2 million up to $4 million dollars
Improvements on the Interest-Only ARMs Feature
Primary Residences Purchase and Rate and Term Refinance
• Loan amounts up to $647,200 require only 6 months reserves and LTV up to 80%
• LTV increased from 70% to 80% for loan amounts up to $1 million dollars
• LTV increased from 60% to 70% for loan amounts greater than $1 million up to $1.5 million dollars