TMS Funding, Milford, Conn., is making jumbo loans available through its wholesale channel, president John Walsh told this publication.
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Walsh said the jumbo wholesale product is “competitively priced” and in hybrid loan form.
The product is available as a 5/1, 7/1 and 10/1 loan, goes up to $2 million and has a debt-to-income ratio of 45%. Its loan-to-value ratio is 90% for amounts up to $625,000, and 80% for amounts up to $1 million. Second home loans are available at an 80% LTV for amounts up to $650,000 and at an LTV of 75% for loan amounts up to $1 million.
