Parkside Lending LLC
has announced the expansion of its jumbo loan program and is now offering jumbo mortgages (fixed rates or ARM options) with LTVs as high as 95 percent with or without mortgage insurance (MI).
Unlike other jumbo programs that feature high LTV with MI, Parkside Lending’s new Jumbo III offers both lender-paid and borrower-paid MI options. Borrower-paid MI allows the borrower to take advantage of less expensive mortgage insurance and does not stay on for the full life of the loan.
Parkside Lending provides four Jumbo products (Jumbo I, Jumbo III, Expanded Jumbo and Premier Jumbo), with robust guidelines and aggressive pricing.
“As a wholesale lender that doesn’t have a retail channel, our number one goal is to provide mortgage professionals with a suite of products for their borrowers’ varying circumstances,” said Clint Rosenthal, executive vice president of Sales for Parkside Lending. “There are creditworthy borrowers that are underserved in the jumbo market; therefore, we continue to enhance our jumbo offering to meet the range of needs in the marketplace.”