Biscayne Jumbo Mortgages

Newfi Wholesale Jumbos, Products

Our new Biscayne fully-delegated jumbo loan program means faster underwriting and faster closing!

What’s exciting about the Biscayne Jumbo?

  • Need a 21-day close on a jumbo loan? We can provide it!
  • We handle all the underwriting!

See Biscayne Guidelines (.pdf)

Biscayne Delegated Jumbo Loan Flyer

Click Here for a PDF of the Biscayne Loan Flyer

Product highlights

  • Borrow up to $3 million
  • Maximum LTVs:
    • 90% LTV purchase
    • 80% LTV rate & term
    • 75% LTV cash out (with cash out up to $500,000)
    • First-time homebuyers 80% to $1.5 MM
  • Fixed rate or ARM
    • Interest only available on ARMs
  • Minimum credit scores:
    • 680 for purchase and rate & term
    • 700 for cash out
    • If there are multiple borrowers, the lowest middle score is used
  • Wage earner and self-employed borrowers OK
  • Investment properties OK
  • Fully delegated: no investor-added conditions or timelines
  • 70% of value of retirement accounts can be used for reserves
  • High balance loan amounts can follow AUS findings:
    • 43% DTI
    • Maximum 80% LTV
    • 30 year fixed only

Who is this product best for?

  • Borrowers (both wage-earning and self-employed) with excellent credit and job stability
  • Borrowers requiring quick escrow on a jumbo up to $3 million
  • Borrowers with Restricted Stock Units (RSUs) and the desire to use RSUs as monthly income

For more information about the Biscayne Jumbo

See the latest product guidelines, call your Account Manager, or reach out to the Newfi Wholesale team at 888-415-1620!

See Biscayne Guidelines (.pdf)

How does Biscayne compare to our other jumbos?

  • The Denali Jumbo is a non-QM product allowing higher LTVs than Biscayne, up to 95%. For those who don’t require the higher LTV, Biscayne’s jumbo rates are typically lower. Read more about Denali Jumbo
  • The Glacier Investment is a non-QM product for real estate investors allowing easier credit qualifications and loan amounts up to $2 million. Read more about Glacier Investment

To compare our various jumbos, see our article: Three Ways to Great Jumbo Loans.

Check out our other wholesale loan products!