Lender introduces competitive rates for borrowers financing high-value properties
The Mortgage Calculator has rolled out a competitive jumbo mortgage offering for borrowers purchasing high-value properties.
As rising home prices push more buyers into the jumbo loan category, the lender’s platform said its new offering is a practical solution to help borrowers finance properties that exceed conventional loan limits. It offers access to real-time rates and tools to evaluate loan options and supports financing for primary residences, vacation homes, and investment properties.
“Jumbo mortgages are essential for buyers in luxury markets, and our competitive rates allow borrowers to secure their dream properties with confidence,” a representative of The Mortgage Calculator said in a media release.
The Mortgage Calculator also specializes in non-qualified mortgage (non-QM) products, which cater to borrowers who may not meet traditional lending criteria. These loans include options for borrowers using alternative income documentation, such as bank statements or profit-and-loss statements, as well as specialized loans for investors.
The non-QM sector is experiencing significant growth, even as mortgage rates fluctuate. According to a recent MCT Trading report, demand for non-QM products, including second mortgages and home equity lines of credit (HELOCs), surged by over 20% in the third quarter of 2024.
This growth reflects increasing institutional investor interest in alternative lending products, with insurance companies and other investors actively expanding their portfolios.
Read next: Why non-QM lending could be set for a big year in 2025
The fair value for non-QM mortgage servicing rights (MSR) currently ranges between 3.65x and 4.125x servicing fees, while second mortgages and HELOCs carry fair values of 2.30x to 2.85x servicing fees.
“We anticipate this growth in these product segments to continue for the rest of 2024 and throughout 2025,” MCT said.
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