Jumbo loan options for home purchase in NJ

[Kwame L. Dougan]

Hi,

I'm helping a small-business client purchase a single-family home in Central NJ.  It has a separate apartment attached that would be income generating. It would require a good amount of TLC, and we'd like to compare commercial and conventional mortgages (JUMBO).

We're working with a downpayment of 20% on ~$680,000 asking price.

The client's credit was near 850 until a few weeks ago when a loan they had co-signed wasn't paid on time. But she's paid off the balance, so I'm helping her secure get a reasonable loan rate that reflects the whole picture.

Thanks

K