jumbo loan question
I contacted a bank the other day asking about a jumbo loan. The following was the reply, "On Jumbo Loans which are anything over the conforming limit of $417,000, the minimum credit score is 720 and the maximum LTV is 80%."
Is this universal or do all jumbos require an LTV of 80%?
I wanted to do around 3% on a 550k loan.