LenderSelect Mortgage Group
has announced their community lending teammates will now be able to offer three new loan programs to market to homebuyers: Two-Time Construction to Permanent, HomeOne and the MH Advantage Loan Programs.
The Two-Time Construction to Permanent allows community lenders to 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 HomeOne loan program was designed to ease the challenges around saving for a downpayment. The MH Advantage loan program creates increased 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,” said Tracy Marks, LenderSelect President. “The year 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.”