Dart Bank Wholesale Launches New Jumbo Loan Product Offering Up to $3 Million for Luxury Homebuyers
New loan expands mortgage brokers’ options in the competitive high-end market
MASON, Mich., December 3, 2024 – Dart Bank Wholesale Lending, one of the newest, fast-growing wholesale lenders in the country, has launched a new Jumbo loan product for its network of mortgage broker partners that offers financing options up to $3 million. The new product allows wholesale loan originators to secure financing for high-value clients through a no-stress approval process.
“With our Jumbo loan offering up to $3 million, Dart Bank Wholesale Lending provides mortgage brokers a valuable new option in the market—where many lenders stop at $2.5 million,” said Phil Miller, President of Dart Bank Wholesale Lending. “The luxury home market continues to see strong demand and increased home prices. The Dart Jumbo loan enables wholesale loan originators to stand out in the luxury real estate market by providing larger loan amounts, flexible terms, and simplified underwriting.”
Program Details:
- Offered for loan amounts $1 above the conforming loan limit.
- Fixed 30-year term
- Maximum loan amount of $3M
- Maximum LTV of 80%
- Minimum FICO: 700
- Available on primary (1-2 units), second homes (1 unit), and investment (1-2 units)
- Cash-out loan amounts up to $2M (primary and second); $1.5M on investment
- Self-employed borrowers are eligible
- Maximum DTI: 49.99% for primary up to $2M
The Jumbo loan product is the latest addition to a growing range of conventional and government loan products that Dart Bank Wholesale offers with some of the most competitive rates in the industry.
Mortgage brokers interested in learning more about Dart Bank’s Jumbo loan product are encouraged to contact their account executive or visit Wholesale Lending for more information.
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