BALTIMORE, MD – For the first time in 20 years in business, Dominion Financial Services (DFS) passed the $100,000,000 milestone for loans originated in a single month in March 2022. The one-month goal of $100 million is the result of a new loan product coming to market in the fall of 2020. The product, a 30-year rental home loan, differs from a conventional mortgage loan. Eligibility for the 30-year rental loan is based on rental income from the property, not the borrower’s personal income.
The popularity of the product increased when interest rates on the loan reached historic lows, allowing investors to take advantage of the loan and invest in their community through housing. Today, the 30-year Rental Investment Loan represents more than 50% of DFS’s monthly production. A second loan product designed specifically for Fix & Flip projects to rehabilitate distressed real estate and rebuild communities, serves as the foundation for DFS.
Product popularity isn’t the only aspect of DFS that has grown by leaps and bounds. Over the past two years, DFS has expanded to 100 Baltimore-based employees working remotely, increased volume month-over-month, and purchased and moved into what was the Goodwill Building on South Street.
“Dominion Financial Services’ growth over the past year has been exciting, eye-opening and nothing short of a remarkable moment in time. Growing from 30 to 100 employees at the rate we have endured is the result of great forces working together,” said Dominique Lake, Human Resources and Office Manager. “We were able to broaden our horizons by transforming our most instrumental departments into remote spaces. This opportunity gave us access to very talented candidates across the country!”
Dominion Financial Services has grown from a Baltimore-based lender to one of the largest national lenders for real estate investors in the United States. In fact, DFS Loans are available in 49 states across the country with licensing for all 50and on my way. Maryland-based real estate investors continue to be DFS’s largest lending base.
“I couldn’t be more proud of what the DFS team has accomplished. Fred Lewis (founder of Dominion Financial Services) and I are extremely excited about this achievement. We have been successful in expanding nationally and adding a second core lending product to our residential real estate investor loan offerings,” said Jack BeVier, Partner at Dominion Financial Services. “We have been in this business for long term, and I can’t wait to see what records the team sets next!”
Dominion Financial Services is a private lender offering 30 Year Lease, Fix & Flip, New Construction and Multifamily Bridge loans. Founded in 2002, the Dominion Financial Services team lends in 49 states and has funded more than $1.8 billion in loans, resulting in more than 6,200 residential projects. To learn more about Dominion Financial Services, visit their website.