Hello, my name is George Omilan (NMLS #873983). I am the President and Principal of Jefferson Mortgage Group LLC with 33 years of experience in the mortgage business.
Jefferson Mortgage Group LLC is a licensed mortgage provider serving all of Virginia, Maryland, DC and Pennsylvania with a focus on traditional Conventional, Government, Conventional Jumbo, Jumbo and insured HECM Reverse Mortgages and a full array of Non QM loan programs.
Our conventional programs include all the standard Fannie Mae and Freddie Mac and high balance programs with limitations set by county and Jumbo options. Our government programs include the traditional FHA & VA loan programs but we also offer lower credit score variants that allow for manual underwriting for borrowers with temporary credit issues and lower credit scores.
Our Non QM Loans or otherwise termed Specialized Forward Mortgages are highly focused on cash flow alternatives (Bank Statement loans) for business owners and other self-employed borrowers. This category also includes Asset Dissipation Programs specially designed for borrowers to meet traditional qualifications on the basis of verifiable liquid assets such as cash in banks, stocks and bonds, and retirement accounts. For the investor community, we offer No Doc Investor Loans or “Alt-A Investor loans” at 80% LTV, both Full doc and No Income-No Employment (No Doc) for the investor community for both Single Family investor properties and Multi-Unit (2-4 unit) properties (individuals or LLC’s). This category is quite broad and offers expanded qualification where the banks and large scale lenders dare to go.
With Reverse Mortgages, our full complement of government insured and private label programs allows us to provide the broadest coverage of options for our retirees and seniors. Our Jumbo Private Label Reverse mortgages offer attractive options for higher priced homes. Within this capacity we work with Financial Planners & Advisors, Legal & Health Professionals, as well as clients and their families to help retirees gain a level of independence by paying off their mortgages, supplementing their retirement income, and establishing easy home equity access and innovative cost effective mechanisms for long term care solutions. Further, we help homeowners with practical strategies that utilize a Reverse Mortgage to balance debt for a more secure retirement, obtain a safer means of leverage so they can live comfortably within their means, and access home equity for emergencies and funds for in-home care. We also assist homeowners with the HECM for Purchase as an attractive vehicle for downsizing their homes.
Our newest move back into specialized forward mortgages is like homecoming. Over the past thirty years this has been our pride and joy of accomplishment. As the principal of Jefferson Mortgage Group, this category has been where the majority of my experience and expertise was developed. I am happy to see the re-emergence of specialized loans for the self-employed and investor communities. The need for Alternative A and Non QM Loans in general is vast and the need for more flexible documentation types, higher debt ratios, lower credit scores, higher loan-to-values, is important to our real estate market. The days of only the perfect square profile being eligible for a loan versus, sorry no loan available you must pay cash, is coming to an end. This is an area where we will work hard to serve the customers in our markets.