SJ JUMBO PROGRAM Primary Residence Purchase and Rate/Term Refinance Fixed rate (15- to 30-year) ARMs (5/1, 7/1, and 10/1 LIBOR ARMs) Single Family, PUD, Detached/Attached Condo with Loan Score >720 Attached Condo with Loan Score <720 2-Unit 3- to 4-Unit Min. Loan Score Loan Amount/ Combined Loan Amount 1 >$424,100- $750,000 2 >$750,000 $1,000,000 >$1,000,000 $1,500,000 Class C C C C 75 85 n/a n/a 1 75 75 70 70 80 80 75 75 2 80 80 75 75 75 75 70 70 3 80 80 75 75 75 75 70 70 4 75 75 70 70 70 70 65 65 1 80 80 75 75 75 75 70 70 2 80 80 75 75 75 75 70 70 3 80 80 75 75 75 75 70 70 4 75 75 70 70 70 70 65 65 1 80 80 75 75 75 75 70 70 2 80 80 75 75 75 75 70 70 3 80 80 75 75 75 75 70 70 4 75 75 70 70 70 70 65 65 (Table continued on next page) 700 Fixed rate 720 ARMs
SJ JUMBO PROGRAM Primary Residence Purchase and Rate/Term Refinance (Continued) Single Family, PUD, Detached/Attached Condo with Loan Score >720 Attached Condo with Loan Score <720 2-Unit 3- to 4-Unit Min. Loan Score Loan Amount/ Combined Loan Amount 1 >$1,500,000 $2,000,000 >$2,000,000- $2,500,000 >$2,500,000- $3,000,000 Class C C C Not listed 80 80 75 75 75 75 70 70 2 80 80 75 75 75 75 70 70 3 80 80 75 75 75 75 70 70 4 75 75 70 70 70 70 65 65 1 75 75 70 70 2 75 75 70 70 3 75 75 70 70 4 70 70 65 65 1 70 70 65 65 2 70 70 65 65 3 70 70 65 65 4 65 65 60 60 2. Non-Conforming first Loan amounts must be greater than $424,100. C
Primary Residence Cash-out Refinance 1 Fixed rate (15- to 30-year) ARMs (5/1, 7/1, and 10/1 LIBOR ARMs) SJ JUMBO PROGRAM Single Family, PUD, Condo Loan Amount/ Combined Loan Amount 1 Class C >$424,100-$750,000 2 2 70 70 3 70 70 1 70 70 4 65 65 1 70 70 >$750,000 $1,500,000 >$1,500,000 $2,000,000 2 70 70 3 70 70 4 65 65 1 65 65 2 65 65 3 65 65 4 60 60 2. Non-Conforming first Loan amounts must be greater than $424,100. Primary Residence Cash-out Limits /C Maximum Amount of Cash Out >65% $400,000 <65% $500,000 Primary Residence Reserve/PCL Requirements Min. Loan Score Loan Amount/Adjusted Combined Single Family, Loan Amount 1 2-unit 3- to 4-unit PUD, Condo Up to $1,000,000 12 months PITI 12 months PITI 36 months PITI >$1,000,000-$2,000,000 12 months PITI 18 months PITI >$2,000,000-$4,000,000 24 months PITI 1. Adjusted combined loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.e., when subordinate financing is a line of credit, the outstanding balance is used). 720
SJ JUMBO PROGRAM Second Home Purchase and Rate/Term Refinance Fixed rate (15- to 30-year) ARMs (5/1, 7/1, and 10/1 LIBOR ARMs) Single Family, PUD, Detached/Attached Attached Condo with Loan Score <720 Condo with Loan Score >720 Loan Amount/ Combined Loan Class C C Amount 1 >$424,100- $650,000 2 >$650,000 $1,000,000 >$1,000,000 $1,500,000 >$1,500,000 $2,000,000 1 80 80 75 75 2 80 80 75 75 3 80 80 75 75 4 75 75 70 70 1 75 75 70 70 2 75 75 70 70 3 75 75 70 70 4 70 70 65 65 1 75 75 70 70 2 75 75 70 70 3 75 75 70 70 4 70 70 65 65 1 70 70 65 65 2 70 70 65 65 3 70 70 65 65 4 65 65 60 60 2. Non-Conforming first Loan amounts must be greater than $424,100. Min. Loan Score 700 Fixed rate 720 ARMs
Second Home Cash-out Refinance Fixed rate (15 to 30-year) ARMs (5/1, 7/1, and 10/1 LIBOR ARMs) SJ JUMBO PROGRAM Single Family, PUD, Condo Loan Amount/ Combined Loan Amount 1 Class C >$424,100 - $650,000 2 >$650,000 $1,500,000 >$1,500,000 $2,000,000 1 70 70 2 70 70 3 70 70 4 65 65 1 65 65 2 65 65 3 65 65 4 60 60 1 60 60 2 60 60 3 60 60 4 55 55 2. Non-Conforming first Loan amounts must be greater than $424,100. Second Home Cash out Limits /C Maximum Amount of Cash Out All $350,000 Second Home Reserve/PCL Requirements Loan Amount/Adjusted Combined Loan Amount 1 Up to $1,000,000 Single Family, PUD, Condo 18 months PITI Min. Loan Score >$1,000,000-$2,000,000 24 months PITI >$2,000,000-$4,000,000 36 months PITI 1. Adjusted combined Loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists. 720
SJ JUMBO PROGRAM Investment Property Purchase, Rate/Term, and Cash-out Refinance Fixed Rate (15- to 30-year) ARMs ( 7/1 and 10/1 ARMs) Single Family, Loan Amount/ Combined Loan Amount 1 Class PUD, Condo C >$424,100 up to $2,000,000 3 1 or 2 60 60 Reserves/PCL Requirements Loan Amount/Adjusted Combined Loan Amount 2 up to $1,000,000: 24 months PITI Loan Amount/Adjusted Combined Loan Amount 2 >$1,000,000 to $2,000,000: 30 months PITI Loan Score 2. Adjusted combined Loan amount (total of all loans/outstanding line balances against the subject property) applies when secondary financing exists (i.e., when subordinate financing is a line of credit, the outstanding balance is used). 3. Non-Conforming first Loan amounts must be greater than $424,100. Investment Property Cash out Limits /C Maximum Amount of Cash Out All $400,000 740
Exhibit 1 Classification State County Classification 4 Classification 3 Classification 2 California Fresno County Imperial County Kern County Kings County Lake County Madera County Merced County Tulare County
Exhibit 2 Value Based Median Home Price Classification State County Median Home Price Alameda County (CA) $839,080 Alpine County (CA) $531,230 Amador County (CA) $297,540 Butte County (CA) $287,300 Calaveras County (CA) $402,310 Colusa County (CA) $335,010 Contra Costa County (CA) $605,340 Del Norte County (CA) $300,010 El Dorado County (CA) $432,090 Fresno County (CA) $241,730 Glenn County (CA) $291,850 Humboldt County (CA) $301,750 Imperial County (CA) $210,640 Inyo County (CA) $324,790 Kern County (CA) $224,420 Kings County (CA) $212,970 Lake County (CA) $227,950 Lassen County (CA) $243,640 Los Angeles County (CA) $513,030 Madera County (CA) $236,930 Marin County (CA) $1,229,800 Mariposa County (CA) $334,380 Mendocino County (CA) $407,520 Merced County (CA) $240,120 Modoc County (CA) $224,120 Mono County (CA) $481,760 Monterey County (CA) $565,090 Napa County (CA) $676,550 California Nevada County (CA) $484,540 Orange County (CA) $760,690 Placer County (CA) $440,090 Plumas County (CA) $339,800 Riverside County (CA) $373,290 Sacramento County (CA) $326,610 San Benito County (CA) $531,350 San Bernardino County (CA) $263,040 San Diego County (CA) $571,770 San Francisco County (CA) $1,344,650 San Joaquin County (CA) $320,930 San Luis Obispo County (CA) $553,160 San Mateo County (CA) $1,333,190 Santa Barbara County (CA) $805,080 Santa Clara County (CA) $1,092,210 Santa Cruz County (CA) $833,060 Shasta County (CA) $243,280 Sierra County (CA) $351,550 Siskiyou County (CA) $218,720 Solano County (CA) $393,520 Sonoma County (CA) $624,620 Stanislaus County (CA) $278,990 Sutter County (CA) $252,420 Tehama County (CA) $221,690 Trinity County (CA) $366,740 Tulare County (CA) $216,090 Tuolumne County (CA) $284,100 Ventura County (CA) $651,510 Yolo County (CA) $402,080 Yuba County (CA) $248,680