Acra Lending, one of the largest independent non-QM specialty finance lenders, has added to its suite of mortgage loan programs with the launch of its Jumbo Prime mortgage solution. Acra designed the program as an extension to its suite of programs for purchase or refinance of higher valued properties.
“This specific program has been developed to meet the needs of customers in today’s environment and was launched to provide borrowers with the larger loan amounts they need to purchase or refinance a high value property,” said Keith Lind, Acra Lending executive chairman and president. “With this addition, Acra is once again demonstrating its commitment to identifying, responding to and anticipating the needs of borrowers across the market while maintaining the high standards of responsible lending that are the foundation of our business.”
The new Jumbo Prime mortgage program features LTVs up to 90% with loan amounts up to $3 million. The program comes at a time when jumbo mortgages are harder to access for borrowers due to ongoing economic downturn caused by COVID-19.
“We continue to focus on building on our track record of leadership in the non-QM space by developing programs that are at the forefront of the industry,” Acra Lending CEO Kyle Gunderlock said. “The program will allow our network of industry professional access to a solution for their clients who are looking to buy or refinance high value primary homes, second homes and investment properties.”
To find out more about this program and Acra’s suite of mortgage lending options for mortgage professionals, visit the company’s new website at acralending.com