Table: 1 of 2
Wells Fargo Jumbo Product | ||||
Purchase & Rate Term Refinance | ||||
Occupancy | Loan Amount | Min FICO | Units | Max LTV/CLTV |
Primary | ≤.75 mil | 700 (Fixed Rate) 720 (ARMS) | 1 | 80% |
1-2 | 75% | |||
2 | 75% | |||
3-4 | 70% | |||
>$750,000–$1,000,000 | 1 | 80% | ||
1-2 | 75% | |||
2 | 75% | |||
3-4 | 70% | |||
>$1,000,000–$1,500,000 | 1 | 80% | ||
1-2 | 75% | |||
2 | 75% | |||
3-4 | 70% | |||
>$1,500,000–$2,000,000 | 1 | 80% | ||
1-2 | 75% | |||
2 | 75% | |||
3-4 | 70% | |||
>$2,000,000-$2,500,000 | 1 | 75% | ||
1-2 | 70% | |||
>$2,500,000-$3,000,000 | 1 | 70% | ||
1-2 | 65% | |||
Second Home | ≤$1,500,000 | 1 | 60% | |
1-2 | 80% | |||
>$1,500,000–$2,000,000 | 1 | 85% | ||
1-2 | 80% | |||
Investment | ≤$2,000,000 | 740 | 1-4 | 60% |
Cashout Refinance | ||||
Primary | ≤$750,000 | 720 | 1 | 70% |
>$750,000–$1,500,000 | 1 | 70% | ||
>$1,500,000–$2,000,000 | 1 | 65% | ||
Second Home | ≤$650,000 | 720 | 1 | 60% |
>$650,000 – $1,500,000 | 1 | 70% | ||
>$1,500,000– $2,000,000 | 1 | 65% | ||
Investment | ≤$2,000,000 | 740 | 1-4 | 60% |
Table: 2 of 2
Product Guidelines | ||||
Product Variations | ||||
Fixed | 15, 30 Year | |||
ARM (Max LTV 80%) | 5/1 ARM, 7/1 ARM 10/1 ARM | |||
Debt Ratios | ||||
Max DTI | 50% | |||
Income Documentation | ||||
Full Doc | √ | |||
Assets | ||||
Full Asset Documentation | √ |
Wells Fargo:
Paul J. Chessare, AMP
Cell (217) 494-3015
Direct (217) 547-7318
Paul.Chessare@wellsfargo.com