LendSure’s Jumbo Prime Loans Enable More Americans to Own Luxury Homes
Bridging the gap by offering alternative mortgage solutions allows LendSure to serve a diverse client list with quality lending products that fit today’s booming real estate market.
SAN DIEGO, May 12, 2022 /PRNewswire/ — LendSure Mortgage Corp. (“LendSure”), an industry leader in non-conforming loan programs, is addressing a huge market need with new Jumbo Prime mortgage offerings. This loan option allows borrowers to access up to $3 millionwith a faster underwriting process through a personalized loan review.
With home prices expected to rise by at least 8% nationwide, properties that could previously be purchased with conforming loan amounts now require “jumbo” loans. There are now 312 cities in United States that have typical home prices above $1 million.
“With increasing home values, we see a huge opportunity to qualify borrowers through this new program,” advised Ashley O’Connor, Division Manager, Jumbo Prime, at LendSure. “It’s also a great opportunity for those looking to buy into highly sought-after markets like California, Texasand Florida.”
LendSure’s Jumbo Prime process flow is even more streamlined than their non-QM process flow. Unlike LendSure’s non-QM process, no pre-qualification review will be conducted. Instead, loan officers use LendSure’s online rating tool, SPARK, to determine eligibility. Once eligibility is confirmed, the loan officer provides the required income, asset, and credit documentation, in which case the file is submitted directly to underwriting for review. Loans that are not eligible for the Jumbo Prime program are transparently offered non-QM jumbo options.
“Jumbo Prime is closer to Fannie Mae’s guidelines,” O’Connor said. “Unlike Non-QM, there is no room for exceptions. However, while there is always a risk assessment in Jumbo Prime, the two things borrowers can count on with this program are a easier underwriting process and superior customer service.”
LendSure’s current Jumbo Prime loan offerings include up to 90% loan-to-value (LTV) ratio for loan amounts as high as $1 million85% LTV for loan amounts as high as $2 millionand 80%t LTV for loan amounts up to $3 million. Loans can be taken out as a 30-year fixed, a 15-year fixed or a 5/6, 7/6 or 10/6 SOFR ARM for ultimate flexibility. Industry leading turnaround times allow LendSure borrowers to act quickly at very competitive rates.
To learn more or to discuss a specific loan scenario with a LendSure Jumbo Prime Specialist, visit LendSure.com.
About LendSure Mortgage Corp:
Based at San Diego, California, LendSure Mortgage Corp. NMLS #1326437, was founded in 2015 to help mortgage professionals better serve their clientele by offering a wider range of programs to meet their needs. LendSure offers a full range of non-QM loan programs for borrowers who do not meet compliant guidelines. Lending programs include: 24-month bank statement loans, Missed Agency Loans (Alt-A), real estate investor loans, common sense underwriting for borrowers with credit problems, programs for foreign nationals and a variety of other non-QM loan programs. .. This information is intended for the exclusive use of licensed real estate and mortgage professionals. It is not a commitment to lend. Rates and programs are subject to change without notice. Other restrictions and limitations may apply. The granting of a loan is subject to the credit and policy requirements of LendSure Mortgage Corp. For more information and to obtain a license, visit LendSure.com
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