Filo Mortgage Announces New Jumbo Mortgage

FORT WASHINGTON, Pennsylvania – (BUSINESS WIRE) – Fast growing lender Filo Mortgage is now offering aggressive pricing on its new Jumbo Select mortgage program, a product available directly to consumers.

The Jumbo Select product enables more consumers to purchase a quality home or refinance an existing Jumbo mortgage for significant savings. Eligible borrowers can benefit from a reduced no-point interest rate and a lower monthly payment for jumbo loan amounts.

A jumbo loan is a mortgage loan that is used to finance real estate whose loan amounts are above the traditional compliant credit limit, which is currently $ 548,250 in most counties and will increase to $ 625,000 by 2022, as per the Federal Housing Finance Agency set.

Filo Mortgage continues to lead the way in low-rate, pointless mortgages on conventional, VA, FHA, and now jumbo loans. To qualify for the Jumbo Select product, a borrower should have a mortgage with a LTV of less than 85%, a debt-to-income ratio of less than 45%, and a FICO score of greater than 680. The loan amounts have increased to $ 2 million.

Jeffrey Frutkin, Filo Mortgage Founder and Co-CEO, said, “Our new Jumbo Select product is designed to help eligible borrowers get access to a lower interest rate without paying rebate points. Even a small change in the interest rate can save thousands of dollars over the life of the loan. We believe this new product will provide a significant benefit to borrowers with a higher non-compliant loan amount. ”

Co-CEO Van Richardson added, “The prices for the Jumbo Select program will be lower than the major banks. Our desire to provide our customers with the lowest interest rates with no points is what makes Filo Mortgage a household name among thousands of consumers. ”

About filo mortgages

Filo Mortgage, LLC is a fast growing lender that offers its borrowers extremely low interest rates, fast close deals, and an easy-to-use digital experience. Founded in 2019 and licensed in 28 states, the company and its reputation have grown rapidly under the direction of a management team with extensive experience in the mortgage industry. Filo Mortgage is headquartered in Fort Washington, Pennsylvania with offices in Texas, Arizona, and Missouri. Since its inception in 2019, Filo Mortgage has exceeded $ 5 billion in completed loans. Filo Mortgage focuses on making borrowing quick and hassle-free, with the lowest possible cost for both home purchase and refinance loans. Filo Mortgage does not charge any issuing fees.

Filo Mortgage, LLC NMLS ID # 1928741 (www.nmlsconsumeraccess.org). Same housing provider. For more information on Filo Mortgage, LLC please visit www.filomortgage.com.

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