Plaza Home Mortgage, a wholesale and correspondent mortgage lender, has added a new Jumbo Preferred Program that features both fixed and adjustable rate mortgages (ARM), competitive rates and loan amounts up to $3 million.
Plaza’s program can be used for primary, second home and investment properties and single family, 2-4 unit and condominiums. Borrowers can have DTIs up to 43% and FICOs to 700 (fixed) and 720 (ARM). The program is available through Plaza’s Wholesale channel.
“Our clients are looking for new solutions to help their borrowers purchase and refinance in this rapidly-rising rate environment,” said Jeff Leinan, President, Wholesale Division at Plaza Home Mortgage. “Our Jumbo Preferred program offers attractive rates and ARM options to help borrowers qualify.”
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