Filo Mortgage Announces New Jumbo Mortgage | Business


FORT WASHINGTON, PA – (BUSINESS WIRE) – November 18, 2021–

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

The Jumbo Select product allows more consumers looking to buy high-end homes or refinance an existing jumbo mortgage to realize significant savings. Eligible borrowers can benefit from a reduced interest rate without points and a lower monthly payment on jumbo loan amounts.

A jumbo loan is a mortgage used to finance properties with a loan amount greater than the conventional conforming loan limit which is currently $ 548,250 in most counties and will increase to $ 625,000 in 2022, as determined by Federal Housing Finance Agency.

Filo Mortgage continues to be a leader in low rate mortgages with no points on conventional, VA, FHA and now Jumbo loans. To be eligible for the Jumbo Select product, a borrower must have a mortgage with a loan-to-value ratio below 85%, a debt-to-income ratio below 45%, and a FICO score above 680. Loan amounts are increasing to $ 2 million.

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

Co-CEO Van Richardson added, “The prices for the Jumbo Select program will be lower than the big banks. It is our desire to offer customers the lowest possible rates without points that make Filo Mortgage a name known to thousands of consumers. “

About Filo Mortgage

Filo Mortgage, LLC is a fast growing lender that offers super low rates, fast 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 leadership 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 inception in 2019, Filo Mortgage has exceeded $ 5 billion in closed loans. Filo Mortgage aims to make the borrowing experience fast, hassle-free, and at the lowest possible cost for home buying and loan refinancing. Filo Mortgage does not charge an assembly fee.

Filo Mortgage, LLC NMLS ID # 1928741 (www.nmlsconsumeraccess.org). Equal housing lender. For more information about Filo Mortgage, LLC, please visit filomortgage.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211118006425/en/

Aimee Munroe | [email protected]

KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: Filo mortgage

Copyright Business Wire 2021.

PUB: 11/18/2021 20: 00 / DISC: 11/18/2021 20:01

http://www.businesswire.com/news/home/20211118006425/en

Copyright Business Wire 2021.


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