LenderSelect Mortgage Group recently announced their community lending teammates will now be able to offer three new loan programs to competitively market to homebuyers: Two-Time Construction to Permanent, HomeOneSM & MH Advantage Loan Programs.
The Two-Time Construction to Permanent loan program is a great option for homebuyers who want to build their dream home from the ground up. Offering both the One-Time and the new addition of the Two-Time, community lenders may participate with a managed process using funds from their financial institution allowing borrowers to go through the construction phase and into a permanent mortgage after the home is built.
The HomeOneSM loan program is designed to ease the challenges around saving for a down payment. With no income limit requirements or minimum financial contribution from the homebuyer’s own funds, this conventional fixed-rate mortgage could help your homebuyers qualify faster and easier.
The MH Advantage loan program creates greater flexibility in manufactured home purchases by allowing higher loan-to-value (LTV) ratios and removing the requirement for additional mortgage insurance.
“With the addition of these three new loan options, our community lending teammates have the ability to be even more competitive in this purchase environment,” says Tracy Marks, LenderSelect President. “2019 will be predominantly purchase driven so it is critical for community financial institutions to offer a variety of loan programs to meet the needs of every homebuyer.”