I frequently get asked, “how do people afford those multi-million dollar dream homes that you sell?”. Well, the answer is the same way that anyone else buys a home – which is usually a regular mortgage from a bank. It is true that there some people buy homes with cash and do not need any financing. However, those people are few and far between. For the rest of us, we usually need a little help. There was once a time when million-dollar-plus homes required some hoops, special financial considerations, and high down payment ratios. But over the last few years, banks and mortgage companies have begun offering more traditional loans and streamlining the process for these high-end homes.
Enter our friends at Guild Mortgage! In business for over 50 years, Guild has been one of my preferred mortgage companies since I started selling real estate. What makes Guild Mortgage special, is they have some very creative programs that will help most anyone’s mortgage needs – including that higher-end homes that we sell. They have recently introduced the Elite Jumbo Program. This amazing loan program offers traditional mortgages with only 5% down for up to $850,000! This is one the only programs that will allow you to get that luxury dream home with such a low down payment. This program also other loan products for loans up to $3million.