Geneva Launches Portfolio Lending Division
Direct mortgage lender Geneva Financial has launched an in-house Portfolio Lending Division.
The division is starting out with $55 million in managed funds available to assist investors, builders, and clients of their real estate agents. It will offer ground-up or Fix and Flip loans, plus bridge loans for investors of between six months and three years.
Its signature bridge loan, “Transition,” allows borrowers to buy a new home before their current home is sold.
Portfolio Lending will also offer long-term financing to owner-occupied borrowers who don’t currently fit into Geneva’s existing guidelines.
“This new division is an exciting addition to our already robust offering,” Geneva Financial CEO Aaron VanTrojen stated about the announcement. “More than that, we are delighted to…