Deephaven Mortgage has rolled out a new jumbo-prime loan product that the company says will help mortgage bankers and brokers compete for high-net-worth borrowers whose needs exceed 2022 conforming loan limits.

The lender is now providing loans of up to $3 million for primary residences, second homes and investment properties (such as two- to four-unit homes) with highly flexible terms — including maximum LTVs of 89.99% for loans up to $2 million, and 80% for mortgages above that amount, with no PMI.

“Whether they want to snap up coveted rentals or a mansion outside the city, these high-value customers expect white-glove treatment without delays,” said Shelly Griffin, senior vice-president, client development, Deephaven. “Our account representatives work collaboratively with mortgage bankers and brokers to make fast decisions, expedite paperwork, and manufacture products that meet these borrowers’ specific needs.”

Deephaven said it will provide these full-documentation loans to individuals with DTIs of up to 43% and credit scores down to 660.

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