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Luxury Home Loans
Luxury Home Division of Majestic Mortgage
Estate Homes, Mansions & Large Executive Homes
Estate and Executive Home Financing
Mortgage Lending from $418,000 to $10 Million Dollars for Estate homes, Mansions and Executive Homes
Whether you are refinancing your existing luxury mortgage or purchasing a new luxury home, we can help. We provide a wide variety of luxury mortgage options for our clients to choose from. Below is a list of our most popular luxury mortgage products. Pay Option ARM's (POA's), 1, 3, 5, 7 and 10 Year ARM's (Adjustable Rate Mortgages), 5 and 7 Year Balloons and 10, 15, 20, and 30 Year Fixed. Many of these may be amortized over 40 years lowering the monthly payment required. Documentation Options Include: NO DOC - No income or asset verification required. Lending determination is based solely on Loan To Value (LTV) and credit score. This structure is quick and easy. This format is ideal for low LTV scenarios with high credit scores. NO Ratio - No Income verification required but liquid assets are disclosed and verified. This format is ideal for the borrower whose income may have decreased but still has liquid assets such as: CD's, Money Market and or Savings accounts, stocks, bonds, mutual funds and 401k's or pension plans. Generally any financial asset that can be turned into cash in a matter of days. Stated Income - States your monthly income but documentation is not verified. Income has to be consistent with position/profession. Liquid assets may need to be verified. This format is ideal for the borrower that has several income sources and documenting each source would be a paperwork intensive. It is also used for the self-employed borrower that has good credit but does not want to or unable to prove income by using tax returns. Full Doc - Lender verifies income and assets. This format may offer the lowest interest rates. This format is ideal for borrowers whose income is consistent and easy to document. Pre-Payment Penalties - In a climate if rising interest rates most lenders have prepayment penalties associated with their loans. However, every transaction is different and most lenders allow you to buy-out your prepayment penalty. We will help customize a solution for you! Contact Our Estate/Executive Mortgage Department
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