Page 2 - AAG095 B2B Jumbo for Purchase

Advantage for
Advantage Purchase Loan

for Purchase Example

A homeowner age
FAQs 3. 70, sells their existing
home for $2,000,000.

What property types are eligible?
Single-family residences, Planned Step One
Unit Developments (PUDs), FHA Purchase a New
approved condos and non-FHA Home

approved condos.
The homeowner
finds a NEW home for
$1,500,000 .
4
Use $876,925 as a down
payment.
1. 4.
Use $634,500 from an
What sources are allowed for the What property types are not Advantage for Purchase
down payment? eligible? loan to complete

The sale of the existing home, gift Co-ops, second homes purchase.
money, seller concessions, home (investment properties),
buyer’s savings and other assets boarding houses, bed and
are all sufficient ways to source the breakfast establishments, and Step Two
required funds for closing. manufactured homes. +$876,925

down payment
+$634,500

loan to complete purchase

2. 5. $1,500,000 +

What sources cannot be used for What are the Eligibility Closing Costs
the cash required to close? Requirements?

Credit card cash advances, Main requirements: Borrower must
personal loans, bridge loans and be age 62 or older. The home must Step Three
subordinate financing cannot be become the homeowner’s primary
used for closing. residence and be occupied by $1,123,075 at your
disposal and $0
the buyer within 60 days from the monthly mortgage
closing date. Construction must be payments. Borrower
Call today to learn more! complete, and the property must must continue to
be habitable. Borrower must meet pay property taxes,
homeowner’s
loan-to-value requirements. insurance, and home
Caring Driven Ethical maintenance costs.