Dominion Financial Services Lends $100 MM to Real Estate Investors in a Single Month
BALTIMORE, MD – For the first time in 20 years of business, Dominion Financial Services (DFS) hit the $100,000,000 milestone for loans originated in a single month back in March of 2022. The goal of a $100MM month is a result of a new loan product hitting the market during the fall of 2020. The product, a 30-Year Rental Property Loan, differs from a conventional mortgage. Qualification for the 30-Year Rental loan is based on rental income from the property, not the personal income of the borrower.
The product’s popularity increased as the interest rates for the loan hit historic lows allowing investors to take advantage of the loan and invest in their community through housing. Currently, the 30-Year Rental Property Investment Loan makes up more than 50% of DFS’s monthly originations. A second loan product designed specifically for Fix & Flip projects to rehabilitate distressed real estate and rebuild communities, acts as the foundation for DFS.
Product popularity is not the only aspect of DFS that has grown leaps and bounds. Over the course of the last two years, DFS has expanded to 100 employees both based in Baltimore and working remotely, increased volume month over month, and purchased and relocated to what was the Goodwill Building on South Street.
“The growth Dominion Financial Services has experienced over the last year has been challenging, eye-opening, and nothing less than a remarkable moment in time. Going from 30 to 100 employees at the pace we endured is a result of great forces working together,” said Human Resource & Office Manager Dominique Lake. “We were able to broaden our horizons by turning our most instrumental departments into being remote. This opportunity has allowed us to gain access to highly talented candidates across the nation!”
Dominion Financial Services has transitioned from a Baltimore-based lender to being 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 nation with licensure for the 50th on the way. Maryland-based Real Estate Investors continue to be DFS’s largest lending base.
“I couldn’t be prouder of what the DFS team has accomplished. Fred Lewis (Founder of Dominion Financial Services) and I are incredibly excited about this achievement. We’ve been able to scale nationally and successfully, as well as add a second core loan product to our loan offerings to residential real estate investors,” said Jack BeVier, Partner of Dominion Financial Services “We’re in this business for the long term, and I can’t wait to see what records the team sets next!”