*Real‑estate friends, sharpen those pencils: this one can help buyers keep more cash in their pockets—without summoning a PMI goblin.*
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TL;DR
* **90% financing up to \$1.5MM** for **single‑family home purchases** **with no PMI**.
* **Condos & 2‑family:** up to **90% to \$1.0MM**; **2‑family** also available **to 85% at \$1.5MM**.
* **Current purchase rates (0 points):**
* **Conforming 30‑yr fixed:** **6.25%**
* **Jumbo 30‑yr fixed:** **6.625%**
* **Jumbo 7/1 ARM:** **5.875%**
* **Construction/Renovation loans:** **\$200k–\$10MM+**, **7/1 ARM 6.25%**.
* **Strategy note:** Paying off credit‑card balances and rolling that amount into the mortgage **may lower the debt ratio** (yes, really).
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What’s New & Why It Matters
**1) Headline Product: 90% Jumbo to \$1.5MM (SFR)**
* **Single‑Family Purchase:** Up to **90% LTV** on loans **to \$1,500,000** with **no PMI**—a rare combo that keeps monthly payments leaner and cash flexible for improvements or reserves.
**2) Multifamily & Condo Options**
* **Condo OR 2‑Family:** **90% to \$1,000,000**
* **2‑Family:** **85% to \$1,500,000**
These tiers expand options for buyers looking at income‑producing properties or turnkey condos.
**3) Capital Efficiency—AKA “Keep Your Powder Dry”**
* The lender highlights that extra financing can free up cash to **renovate**, **pay off debt**, or **roll in closing costs**.
* Pro tip from the email: **Eliminating high‑interest card debt and increasing the mortgage by the same amount can lower DTI**—useful for qualification and long‑term planning (run the numbers for each client).
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**Rate Snapshot (as shared in the email)**
* **Fannie/Freddie 30‑yr Fixed:** **6.25% (0 pts)**
* **Jumbo 30‑yr Fixed:** **6.625% (0 pts)**
* **Jumbo 7/1 ARM:** **5.875% (0 pts)**
* **Construction/Reno 7/1 ARM:** **6.25%**
* US Bank also notes **90% jumbo to \$1,250,000** (legacy/adjacent availability) and **80% to \$3MM** on a primary.
*Download the graphic: [Rate Snapshot PNG](sandbox:/mnt/data/usbank_rate_snapshot_sep2_2025.png)*
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Quick Scenarios
* **SFR, \$1.5MM purchase**
* **10% down** → **\$1.35MM loan** → eligible under the 90%/no‑PMI SFR program (subject to underwriting).
* **Condo, \$1.1MM purchase**
* **90% LTV cap applies only to \$1.0MM**—above that, expect lower LTV or different structure.
* **Two‑Family, \$1.5MM purchase**
* **Up to 85% LTV** → **\$1.275MM loan** target.
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Who Might Benefit
* **High‑income buyers** wanting to **conserve cash** for renovations or reserves.
* **Move‑up buyers** bumping into jumbo territory who’d rather skip **PMI** on SFR.
* **Investor‑occupants** eyeing **2‑family** properties and rental income potential.
* **Clients with revolving balances** where **DTI optimization** could improve eligibility.
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Pro Tips for Agents & Buyers
* **Lock the narrative early:** Emphasize **no PMI on SFR** as a meaningful monthly savings lever.
* **Model the DTI impact:** Compare “with vs. without card‑debt payoff” scenarios to see qualification shifts.
* **Mind property‑type caps:** Condo/2‑family at **90% only to \$1.0MM**; 2‑family goes **85% to \$1.5MM**.
* **Construction/Reno conversations:** Pair the **\$200k–\$10MM+** loan range with realistic project budgets and draw schedules.
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A Note on Timing & Change
These rates and program notes are **from an email dated Sep 2, 2025** and are **subject to change** without notice. Always confirm **current pricing, points, eligibility, underwriting overlays, and documentation** with your lender prior to presenting options or making offers.
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Friendly Fine Print (Because Compliance Loves Company)
* **For informational purposes only**—not credit advice, a commitment to lend, or an offer to extend credit.
* **All loans subject to credit approval**, appraisal, and verification of income/assets.
* **Rates/terms/availability** can vary by borrower profile, property type, occupancy, and location.
* **PMI waiver** referenced **only for SFR purchases** per the email; other property types may differ.
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If you’d like, I can turn this into a **client‑facing one‑pager** or a **listing‑tool handout** with example monthly payments at different down‑payment tiers—complete with a clean graphic (and only a tasteful dash of humor).
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Sydney Harewood is a real estate professional with a passion for NYC’s architectural gems. For inquiries, call or message Syd at 📞646-535-3819. Experience the finest in NYC real estate with Syd’s expert guidance and deep knowledge of the city’s most exquisite properties.
We hope you found this information helpful. If you have any other questions or need more details, feel free to contact us.
