Just my guess...Imagine if you owned a sandwich shop, and you are deciding to sell it or not? 

The thing with Jumbo products is that each lender can make up their own rules - which result in a variety of qualifications that vary from lender to lender.For your specific example under today's conditions (8/8/2022), a $3M Purchase Price at 20% down will get you the following: - With a 740 Credit Score: 6% interest with about $200 of lender credit ($6000 in lender credit if you have an 800)- You will need 18 months of reserves (PITIA of the new property x 18)- Likely 6 months of reserves for the departing residenceLike others have mentioned, you should shop around for Jumbo products since some lenders have opportunistic terms that are dependent upon their investors at the time.

Purchase price: $500,000 Purchased a ski shop in Angel Fire, NM.

Investment Info:Retail commercial investment in Angel Fire, NM Purchase price: $500,000Purchased a ski shop in Angel Fire, NM.

Talked to one lender and they said I will need at least 20k to start shopping properties.

It is better if you contact a Mortgage Broker, especially if you are looking to shop around.

They will shop with multiple, reputable companies and present you with the best rate.

They are a one stop shop operating in all 50 states catering to investors.Thanks,-Megan

@Kaden Briggs I used Real Estate Express (https://www.realestateexpress....) and my wife used The CE Shop (https://www.theceshop.com/real...). 

Or is it connected to my primary so my bank should be the best place to shop for it?