Sprout Mortgage Launches New Prime Jumbo Residential Loan Offering
May 20, 2020
Sprout Mortgage has added to its residential loan programs with the launch of its Premier Jumbo mortgage for purchase or refinance of higher-end properties, with loan amounts up to $3 million.
The new Sprout Premier Jumbo program features loan-to-value ratios up to 90%, minimum qualifying credit score of 660, up to 43% debt-to-income ratio, and loan amounts up to $3 million, and borrowers are not required to obtain private mortgage insurance.
“This program is engineered to provide borrowers with the jumbo loan amounts they need to purchase or refinance a premium home,“ said Michael Strauss, president of Sprout Mortgage. “With the addition of the new Premier Jumbo offering, Sprout is once again identifying, and responding to market demand while maintaining our credit and collateral standards to produce the highest quality loans.”
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