The mortgage lender will now offer Fannie Mae’s affordable mortgage product to expand its clientele
San Francisco-based Parkside Lending will now be offering Fannie Mae’s HomeReady Mortgage, according to a news release.
Available to low- to moderate-income borrowers, HomeReady enables borrowers to acquire home loans they wouldn’t have been able to obtain with a conventional Fannie Mae loan. HomeReady borrowers can see benefits like down payments as low as 3%, flexible fund sources with no minimum contribution, and lowered mortgage insurance requirements on loan-to-value ratios 90% and up.
“As a company that is exclusive to the wholesale and non-delegated correspondent channels, Parkside’s top priority is to provide mortgage professionals with a wide range of products that meet their borrowers’ varying needs,” said James Lamparter, executive vice president of sales at Parkside Lending. “We care that there are options for creditworthy borrowers of any circumstance. Combined with our recently expanded FHA guidelines, adding HomeReady allows Parkside to support an even broader segment of the mortgage market.”
Related stories:
Parkside Lending head takes reins at CMBA
New program aimed at low-income earners
Available to low- to moderate-income borrowers, HomeReady enables borrowers to acquire home loans they wouldn’t have been able to obtain with a conventional Fannie Mae loan. HomeReady borrowers can see benefits like down payments as low as 3%, flexible fund sources with no minimum contribution, and lowered mortgage insurance requirements on loan-to-value ratios 90% and up.
“As a company that is exclusive to the wholesale and non-delegated correspondent channels, Parkside’s top priority is to provide mortgage professionals with a wide range of products that meet their borrowers’ varying needs,” said James Lamparter, executive vice president of sales at Parkside Lending. “We care that there are options for creditworthy borrowers of any circumstance. Combined with our recently expanded FHA guidelines, adding HomeReady allows Parkside to support an even broader segment of the mortgage market.”
Related stories:
Parkside Lending head takes reins at CMBA
New program aimed at low-income earners
