Green Point Savings Bank has raised the limit on loans it offers to homebuyers.
The Brooklyn, N.Y., lender, known for its strong lending to immigrants, now offers loans on one- to four-family homes of up to $500,000. That's up from $400,000.
"It was a step that was time to take," said Martin Dash, a Green Point executive.
Mr. Dash said he hoped the higher limit would help Green Point gain a larger share of the lending markets it services.
He said the bank had received some requests for loans greater than $400,000.
Green Point will hold the greater-value loans in portfolio, as it does with most home loans it originates, he said.