Skip to main content

Plaza Home Mortgage Offers New Jumbo Preferred Program

Jun 02, 2022
plaza home mortgage logo

Program offers both fixed and adjustable-rate mortgages.

Plaza Home Mortgage Inc., a wholesale and correspondent mortgage lender, has added a Jumbo Preferred Program that features both fixed and adjustable rate mortgages (ARMs), competitive rates, and loan amounts up to $3 million, the company said. 

Plaza’s program can be used for primary, second home, and investment properties, as well as for single-family, 2-4 unit and condominiums. Borrowers can have debt-to-income ratios (DTIs) up to 43% and FICO scores to 700 (fixed) and 720 (ARM). The program is available through Plaza’s wholesale channel.

A jumbo mortgage is a loan for a property too expensive to qualify for conventional lending. As determined by the Federal Housing Finance Agency (FHFA), the conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac for one-unit properties is $647,200. For areas in which 115% of the local median home value exceeds the baseline conforming limit, the ceiling loan limit for one-unit properties is $970,800. 

“Our clients are looking for new solutions to help their borrowers purchase and refinance in this rapidly rising rate environment,” said Jeff Leinan, president, wholesale division at Plaza Home Mortgage. “Our Jumbo Preferred program offers attractive rates and ARM options to help borrowers qualify.”

Founded in 2000, Plaza Home Mortgage is a privately owned, full-service national correspondent and wholesale lender headquartered in San Diego.

About the author
David Krechevsky was an editor at NMP.
Jun 02, 2022
More from
Single-Family Rental Prices Level Off In April

Year-over-year growth slowed for all market segments except higher-priced rental properties.

Jun 18, 2024
Dunmor Welcomes Two Industry Veterans To Its Leadership Team

Tuan Pham and Steve Huff bring a combined 43 years of industry experience to California lender

Jun 12, 2024
A&D Mortgage Offering New Pricing Tiers for DSCR Loans

Enhancements to help investors buying high-value rental properties

Jun 05, 2024
Acra Lending Receives Positive Outlook From Morningstar DBRS

Acra's former ranking was stable

May 29, 2024
A&D Mortgage Appoints Andrey Gunin As Chief Financial Officer

Gunin brings over two decades of experience to A&D Mortgage

May 09, 2024
Business Owners Share Positive Outlook

Bank of America study indicates entrepreneurs expect to make more money this year.

May 06, 2024