Portfolio Loans: A Potential Solution When Other Doors Are Closed

Portfolio loans are held by our parent company, Bank of Hampton Roads, which allows us greater freedom to analyze unique situations and potentially offer loans to borrowers who otherwise may not qualify for another type of loan. This product really does make dreams come true!
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    How Does a Portfolio Loan Work?

    Because portfolio loans are not sold to Fannie Mae, Freddie Mac, or any of the government entities, we are free as a bank-owned company to establish our own set of guidelines and requirements for loans held in-house. If you are denied for a loan somewhere else but have good credit and believe you are a strong candidate for a mortgage, asking about our portfolio loan program is the smart thing to do. Buying your dream home takes patience, persistence, and a careful eye, and we are here to help make that dream come true!
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    Do Portfolio Loans Have Limitations?

    There are guidelines that we follow in regards to down payment, debt-to-income ratio, credit scores, and reserves/emergency funds, but each loan is truly evaluated on a case-by-case basis. Part of your portfolio loan file is the loan story – a short narrative explaining why you have chosen this product and how your loan will benefit the bank that holds it. Your loan story is taken into consideration, along with several other factors, to determine if this product is right for you. At DNJ Gateway Bank Mortgage, we’re happy to evaluate your unique situation in order to determine if a portfolio loan is the right decision for you and your family.
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    Are There Any Fees Associated With a Portfolio Loan?

    Yes – we charge a 1% origination fee and standard closing costs on all portfolio loans, both of which are payable at closing.

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Call DNJ Gateway Bank Mortgage to Learn More About Portfolio Loans

To discuss portfolio loans with one of our knowledgeable loan officers, contact DNJ Mortgage today! We’ve earned the trust of homeowners in the Triangle, the Triad the Outer Banks, Western North Carolina, Virginia Beach, Rehoboth Beach, the Eastern Shore of Maryland, the Eastern Shore of Virginia, and more – Let us earn yours! DNJ also offers mortgages in Tennessee, South Carolina, Georgia, Texas, and Florida. Call today!