Filo Mortgage Announces New Jumbo Mortgage | Financial Buzz

Filo Mortgage Announces New Jumbo Mortgage

Fast growing lender Filo Mortgage is now offering aggressive pricing on its new Jumbo Select mortgage program, a product that is available directly to consumers.

The Jumbo Select product enables more consumers seeking to purchase higher-end homes or refinance an existing jumbo mortgage to realize significant savings. Eligible borrowers may benefit from a reduced interest rate with no points and a lower monthly payment on jumbo loan amounts.

A jumbo loan is a mortgage used to finance properties that have loan amounts higher than the conventional conforming loan limit which is currently $548,250 in most counties and will be increasing to $625,000 in 2022, as determined by the Federal Housing Finance Agency.

Filo Mortgage continues to be a leader in low rate mortgages with no points across conventional, VA, FHA and now Jumbo loans. To qualify for the Jumbo Select product, a borrower should have a mortgage with a loan-to-value ratio lower than 85%, a debt-to-income ratio below 45%, and a FICO score greater than 680. Loan Amounts are up to $2 million.

Filo Mortgage founder and co-CEO Jeffrey Frutkin said, “Our new Jumbo Select product is designed to help eligible borrowers get access to a lower rate without paying discount points. Even a small change in rate can result in thousands of dollars of savings over the life of the loan. We feel that this new product will have a significant benefit for borrowers that have a higher non-conforming loan amount.”

Co-CEO Van Richardson added, “Pricing for the Jumbo Select program will be less than those of the big banks. It’s our desire to provide customers with the lowest possible rates without points that is making Filo Mortgage a household name with thousands of consumers.”

About Filo Mortgage

Filo Mortgage, L.L.C. is a fast-growing lender that provides super low rates, quick closings and a user-friendly digital experience to its borrowers. Founded in 2019 and licensed in 28 states, the company and its reputation have grown rapidly under the guidance of a management team with years of experience in the mortgage industry. Filo Mortgage is headquartered in Fort Washington, Pennsylvania and operates offices in Texas, Arizona and Missouri. Since its founding in 2019, Filo Mortgage has surpassed $5 billion in loans closed. Filo Mortgage focuses on making the borrowing experience fast and hassle free, and at the lowest possible cost for both home-purchase and refinance loans. Filo Mortgage does not charge origination fees.

Filo Mortgage, L.L.C. NMLS ID # 1928741 (www.nmlsconsumeraccess.org). Equal Housing Lender. For more information about Filo Mortgage, L.L.C. please visit filomortgage.com.

Contacts

Aimee Munroe | Aimee@filomortgage.com

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