Bridging the gap by offering alternative mortgage solutions allows LendSure to serve a varied client list with quality loan products that tailor fit today’s rising home market
SAN DIEGO, May 12, 2022 /PRNewswire/ — LendSure Mortgage Corp. (“LendSure”), an industry leader in non-conforming loan programs, is filling an overwhelming market need with new Jumbo Prime mortgage offerings. This loan option allows borrowers to access up to $3 million, with a faster underwriting process done through personalized loan review.
With home prices expected to rise at least 8% nationally, properties that could previously be purchase with conforming loan amounts now require “jumbo” loans. There are now 312 cities in the United States which have typical home prices over $1 million.
“With home values increasing, we are seeing a huge opportunity to qualify borrowers through this new program,” advised Ashley O’Connor, Divisional Manager, Jumbo Prime, at LendSure. “This is also a great opportunity for those looking to purchase in highly sought-after markets like California, Texas, and 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 reviews will be completed. Instead, loan officers utilize LendSure’s online pricing tool, SPARK, to determine eligibility. Once eligibility is confirmed, the loan officer provides the required income, asset, and credit documents, at which point the file is submitted directly to underwriting for review. Loans that miss qualifying for the Jumbo Prime program are seamlessly offered Non-QM jumbo options.
“Jumbo Prime is closer to Fannie Mae guidelines,” said O’Connor. “Unlike Non-QM, there is no room for exceptions. However, while there is still risk assessment in Jumbo Prime, the two things borrowers can count on with this program is an easier underwriting process and superior customer service to match.”
LendSure’s current Jumbo Prime loan offerings include up to 90%loan-to-value (LTV) for loan amounts as high as $1 million, 85%LTV for loan amounts as high as $2 million, and 80%t LTV for loan amounts up to $3 million. Loans can be written as 30-year fixed, 15-year fixed, or a 5/6, 7/6 or 10/6 SOFR ARM for ultimate flexibility. Industry-leading funding times allow LendSure borrowers to act quickly at highly 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:
Headquartered in 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 comprehensive range of non-QM loan programs for borrowers that don’t fit conforming guidelines. Loan programs include: 24-month bank statement loans, just-missed agency (Alt-A), property investor loans, common-sense underwriting for borrowers with some credit issues, foreign national programs, and a variety of other non-QM loan programs.. This information is intended for the exclusive use of licensed real estate and mortgage lending professionals. This is not a commitment to lend. Rates and programs are subject to change without notice. Other restrictions and limitations may apply. Granting of a loan is subject to the credit and policy requirements of LendSure Mortgage Corp. For more information and licensing, visit LendSure.com
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