Are 10% DP Jumbo Loans available still?

[Joe Stubbe]

I'm having a hard time finding a jumbo loan product for a short-term rental/second home with a 10% down payment. Anyone know if these are still being offered in light of covid?

[Julee Felsman]

Hi @Joe Stubbe,

I work for a company that's stayed pretty aggressive with regard to down payment/LTV during COVID (we still have a 5% down jumbo program for instance) and we're currently requiring a minimum 20% down for a second home on our jumbos. If you're going to rent it out more than very incidentally, it would be considered non-owner occupied you can expect something more like 25% down.

Cheers!

Julee