Multiple mortgage options are available, including government-backed and conventional loans. Refinancing can be completed in less than a month.īorrowers will need a minimum credit score of 600 (620 for some mortgages) and a down payment of up to 3.5%. If you’re buying a house, you can get pre-qualified and close on the loan in as little as 25 days. It has a relatively easy-to-navigate online application, helpful loan officers and competitive interest rates. “As someone who doesn't want to endlessly talk on the phone with salespeople - I completely appreciate this process,” Liviu said, “and the rates were among the best I got.”ĪmeriSave is a direct lender in 49 states (not New York) and Washington, D.C. There was no need to look for pay stubs W-2 forms and fax or email them,” Teresa in Georgia said.Įverything is online except for home inspection and final closing, according to Liviu in New Jersey, who refinanced with Rocket Mortgage recently. “All I needed to do was sign permission and they obtained all the necessary information. What reviewers say ConsumerAffairs readers who used Rocket Mortgage appreciate its simple process. Mortgage options for borrowers with lower credit scores.It can take up to three days to get preapproved, and the time to close averages between 30 and 45 days. The minimum credit score required depends on the type of loan you’re interested in (lower for FHA and VA). The application process takes place entirely online. No HELOC loans are available, but home equity loans are. Borrowers can get conventional, jumbo and some government-backed loans with a rate lock of 90 days. Rocket Mortgage is an online mortgage company developed by one of the largest national lenders (Quicken Loans). That says a lot in today’s mortgage arena,” Brenda in New Mexico said after refinancing with New American Funding. “They made us feel like we really mattered and weren’t just a number, like most loan companies make you feel. Many noted the company’s loan officers are helpful throughout the homebuying process, which is especially beneficial for first-time buyers. What reviewers say Many ConsumerAffairs readers report they had a great experience overall. May have to pay points to keep mortgage rate.
New American Funding services loans after closing, helping you maintain your lender relationship. Closing times vary, but there is a close-on-time guarantee. Reverse mortgages and home equity loans are also available, as are zero-down payment options.Ī team of loan officers helps find the best mortgage option for you. The company works with lenders across the credit score spectrum, so you may be able to qualify even if you have poor credit (through its I CAN program).īorrowers can get a variety of mortgage loans with New American Funding, including conventional, FHA, USDA and refinancing. You can complete the entire application online, and preapproval typically takes a day or two. New American Funding is a tech-driven mortgage company that works with borrowers from different backgrounds. Rate and term (only with previous mortgage through Morty) FHA, USDA, conventional, refinance, HELOC and reverseĬonventional, FHA, VA, new construction, HELOC and refinancingįHA, VA, USDA jumbo and conventional loans
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