Wholesale Mortgage Broker 92662 | Balboa Island Jumbo & Second Home Loans
Access jumbo financing and second home programs for Newport Harbor's iconic island community
Balboa Island 92662 homebuyers access wholesale jumbo rates through Mo Abdel at Lumin Lending, with 40+ jumbo lenders including specialists in second home and waterfront financing. With Balboa Island's median home price at $4.0 million, buyers require specialized jumbo programs that wholesale brokers access at institutional pricing.
Balboa Island 92662 Real Estate Market [2026]
| Metric | 92662 Balboa Island |
|---|---|
| Median Home Price | $4.0M |
| Price Range | $1.8M - $12M+ |
| Conforming Limit (2026) | $1,149,825 |
| Typical Loan Type | Jumbo / Second Home |
| Typical Loan Amount | $2M - $5M+ |
Balboa Island is Newport Beach's charming island enclave—connected to the mainland by a single bridge, surrounded by Newport Harbor, and known for frozen bananas and the Balboa Island Ferry. The intimate community of 1,500 homes commands premium prices for bayfront and interior properties alike.
Why Balboa Island Buyers Choose Wholesale
- Second Home Expertise: Specialized lenders for vacation and second home purchases
- Waterfront Specialists: Lenders experienced with bay-front properties and dock valuations
- Jumbo Flexibility: 40+ lenders competing for your business
- Bank Statement Options: Self-employed buyers qualify without tax returns
- Fast Closing: Beat competing buyers with reliable lender relationships
Jumbo Loan Programs for 92662
Primary Residence Jumbo Loans
- Loans from $1,149,825 to $10M+
- 20-25% down payment typical
- Fixed-rate and ARM options
- Interest-only available for qualified borrowers
- 40+ lenders with different program guidelines
Second Home Jumbo Programs
- Specialized lenders for vacation properties
- 25-30% down payment typical
- Income verification flexible for high-asset borrowers
- Available up to $5M+ loan amounts
- No rental income restrictions on most programs
Bank Statement Programs
- 12-24 months of business or personal bank statements
- No tax returns required
- Perfect for self-employed Balboa Island buyers
- Available up to $4M loan amounts
- Primary residence and second home eligible
Asset Depletion Loans
- Qualify using liquid assets instead of income
- Ideal for retirees purchasing island properties
- Assets divided by 60-84 months for income calculation
- Available up to $5M+ loan amounts
Balboa Island vs. Banks: Jumbo Comparison
| Factor | Banks | Wholesale Broker |
|---|---|---|
| Second Home Lenders | 1 | 40+ |
| Waterfront Experience | Variable | Specialized lenders |
| Max Loan Amount | $3-5M typical | Up to $10M+ |
| Bank Statement Options | Limited | Multiple lenders |
| If Denied | Start over elsewhere | Try another lender same day |
Balboa Island 92662 Neighborhoods We Serve
Balboa Island (Main Island)
The primary island connected by bridge to the mainland. Homes range from $2M to $8M+ with bayfront properties commanding premium prices. Strong demand for both primary residence and second home financing.
Little Balboa Island
The smaller, more exclusive island connected by footbridge. Properties range from $3M to $12M+. Higher concentration of waterfront homes requiring specialized lender experience.
Bayfront Properties
Properties directly on Newport Harbor with boat docks. Premium valuations require lenders experienced with waterfront appraisals. Typical prices $5M-$10M+ with specialized jumbo programs.
Interior Island Homes
Non-waterfront properties offering the island lifestyle at lower price points. Prices from $1.8M to $4M. Mix of primary residence and second home buyers.
Frequently Asked Questions
What is the typical loan amount for Balboa Island 92662 homes?
Balboa Island 92662 has a median home price of $4.0M, requiring jumbo loans significantly above the $1,149,825 conforming limit. Typical loans range from $2M to $5M+, with waterfront properties often requiring larger financing.
Can I finance a Balboa Island second home through a wholesale broker?
Yes, and wholesale brokers often provide the best second home options. Access to 40+ lenders means finding programs specifically designed for vacation properties, with competitive rates and flexible documentation requirements.
What down payment is required for a Balboa Island jumbo loan?
Balboa Island jumbo loans typically require 20-25% down payment for primary residences. Second home jumbos may require 25-30% down depending on loan amount and borrower qualifications.
Do wholesale brokers finance Little Balboa Island properties?
Yes. Little Balboa Island properties, typically $3-6M, qualify for the same jumbo programs as the main island. Wholesale brokers access specialized waterfront property lenders experienced with these unique properties.
How do Balboa Island waterfront homes affect financing?
Waterfront properties on Balboa Island require lenders experienced with coastal homes and dock considerations. Wholesale brokers access portfolio lenders familiar with bay-front valuations who understand these unique properties.
Related Resources
Mo Abdel | Senior Mortgage Broker | NMLS #1426884
Lumin Lending, Inc. | NMLS #2716106 | DRE #02291443
Licensed in: CA, WA
Balboa Island 92662 Jumbo Loan Specialist
(949) 822-9662
Equal Housing Lender. All loans subject to credit approval, underwriting guidelines, and program availability. Terms and conditions apply. This is not a commitment to lend. Information is for educational purposes only and does not constitute financial advice. Contact a licensed loan officer for personalized guidance.