Did you know that most lenders have a “sliding scale” for purchases that are over 1.25 million dollars.

What this means is you will have to put more than 20% down.  The sliding scale differs with each lender, but the majority of them will lend up to 80% of the first 1.25 million and then up to 50-60% of the price above 1.25 million.

For example:  You are purchasing a home for 1.6 million dollars.  The down payment required would be $425,000.

$1,250,000 x 20% down payment = $250,000
$350,000 x 50% down payment = $175,000
Total = $425,000

If you are looking within that price range, please contact us first so that we can make sure you have all the details and understand this sliding scale.