SimpleMae from Luxury Mortgage
Luxury Mortgage is excited to announce the rollout of SimpleMae.
With the recent announcement that Fannie Mae and Freddie Mac are capping the percentage of second home and investment property loans that they will purchase to 7% of a company’s total loan sales to the agencies a major void was created. With the new agency constraints, borrowers will have to look for alternative financing sources for these loans in the future. This opens up a tremendous opportunity for the private market and as a market leader Luxury Mortgage is stepping in to fill that void. The rollout of our SimpleMae product will add much need liquidity and flexibility to borrowers in need of financing their second home or investment property.
- Loan amounts up to the county conforming loan limit including agency high balance
- Credit scores as low as 620
- Second homes up to 90% LTV, Investment properties up to 85% LTV
- 7/6 and 10/6 ARM options, 15 and 30 year fixed rate options
- Full appraisal required
- No Mortgage Insurance required
- Minimal overlays on agency selling guides
- Follow DU or LP Findings, must have an AUS approve
- Agency compatible pricing
Contact us today to learn more about the SimpleMae product.