United Wholesale Mortgage has introduced Investor Flex, its 30-year fixed debt-service coverage ratio (DSCR) loan option for real estate investors. This product will allow borrowers to qualify for investment properties based on monthly rental income of the subject property rather than their current income. It’s available on purchase and refinance loans up to $2 million, and can be used to finance up to 20 properties. It will also be offered for short-term rental properties.
Gateway Mortgage Group, a division of Gateway First Bank, has opened a new mortgage center in Moorestown, New Jersey. This is the 14th Gateway mortgage center in New Jersey and brings the company’s footprint to more than 170 mortgage centers across the United States.
Nations Lending, a leading full-service national mortgage lender, has announced a new branch in Monona, Wisconsin. The company has selected Eirik Rorvig to lead the branch.