Planet Home Lending, a national mortgage lender and servicer, is expanding its branch in Melville, New York, as part of its continued effort to grow operations across the U.S. Joining the office are mortgage veterans Regional Vice President of Sales Michael Cabales and Brooklyn Branch Manager Mike Titiyevsky. They will lead a new team of experienced loan officers with specific expertise in the competitive New York Metro-area market.
“The real estate market on Long Island has seen prices jump by more than 20% from last year, with homes moving off the market at a fast clip as buyers vie to lay down roots in this lively area,” said Michael Dubeck, CEO and president of Planet Financial Group, parent of Planet Home Lending. “Planet Home Lending is building a team of local experts to help New York Metro-area homebuyers navigate this competitive market, and to assist homeowners looking to take advantage of their growing home equity.”
Homebuyers can compete with all-cash buyers using Planet Home Lending’s Cash 4 Homes offering, which helps pre-approved homebuyers purchase without financing or appraisal contingencies, as applicable. Homeowners selling and buying a move-up home can purchase before they sell with Planet’s bridge loan — ensuring they have a new home under contract before selling their current home.
“Homebuyers here have two big challenges: competition for the limited number of homes for sale and rising interest rates. Planet Home Lending has specialized home loan options for buyers facing each of those issues,” Cabales said, who will lead the new team at the Melville branch. He added that his retail team, which will soon grow to 85, aims to do $1 billion in home loan origination volume in the next 12 to 14 months.
Among the tools available to New York Metro-area borrowers are Planet Home Lending’s personal digital mortgage assistant, Skymore by Planet Home Lending, which enables consumers to apply for a home loan from anywhere via their mobile devices. Using Skymore, borrowers and real estate agents (with the borrower’s permission) can track loan progress 24/7, reach out to ask their loan officer questions and submit paperwork electronically.
