Banks and Credit Unions
Argent Mortgage Company
Argent Mortgage Company is a non-conforming mortgage lender that offers competitive mortgage loans and lending services to consumers who are seeking home financing. As a wholesale mortgage firm, it is comprised of a network of independent mortgage brokers.
Argent’s network of approved independent brokers make their mortgage information available to consumers. In general, the independent mortgage brokers generate the majority of home loans nationwide. Consumers typically choose independent brokers for reasons that include their expertise in assisting the borrower through a complex transaction, their access to a wide selection of loan options, and their ability to present loan products from multiple lenders.
Argent requires all their brokers to comply with the Equal Housing Opportunity Act, the Fair Housing Act, the Truth in Lending Act, the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, the Home Mortgage Disclosure Act, The Gramm-Leach-Bliley Act, and the Americans with Disability Act.
While each independent broker may offer a different set of funding programs, Argent's featured offerings are as follows :
- Prime Advantage – which is credit score based and therefore allows maximum flexibility.
- Argent 100% Advantage – where qualified applicants can borrow up to 100% of the purchase price on a first lien.
- 80 / 20 Combo Advantage – where a first and second mortgage are closed simultaneously to allow for a 100% finance option.
- Interest Only Option – where interest is payed only during first five years of loan.
- Fully Amortized 40 / 30 Option – which will lower monthly principal and interest for first 10 years of loan.
Argent Mortgage Company is licensed lender in the states of Arizona, California, Georgia, Illinois, Massachusetts, Mississippi, Montana, North Carolina, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Rhode Island.
Washington Mutual
Washington Mutual has four primary business lines: Retail Banking & Financial Services, Home Loans, Commercial Banking, and Card Services. Washington Mutual's home loan or mortgage-banking segment provides mortgage initiation, sales, and servicing. It offers a variety of home lending products, including fixed-rate home loans, adjustable-rate home loans (ARMs), hybrid home loans, government insured or guaranteed home loans. Typically high-risk borrowers are offered services through Long Beach Mortgage, a wholly owned subsidiary.
Washington Mutual's mortgage-banking segment also makes insurance products available to its customers that complement the mortgage lending process. These include private mortgage insurance, mortgage life insurance, flood, homeowners', earthquake and other property and casualty insurance.
The Multi-Family Lending (MFL) group offers adjustable and fixed financing products, intended for refinancing or purchase of existing multi-family properties with five or more units. This division operates in 15 major U.S. markets and is a “Delegated Underwriting and Servicing (DUS)” lender for Fannie Mae's complete line of multifamily financial products.
The Commercial Real Estate (CRE) group provides construction, acquisition, rehabilitation and term financing for office, retail and industrial properties, and multi-family construction.
The Community Lending and Investment (CLI) group is responsible for providing programs for multi-family community lending and investments. In this group emphasis is placed on profitable and competitive affordable lending and investment programs that contribute to the improvement of community and economic development.
Cendant / PHH Mortgage
PPH Mortgage, formerly known as Cendant Mortgage, is one of the top ten mortgage originators. It lends to customers throughout the US, offering competitive rates and a wide range of mortgage alternatives, as well as expert advice and professional assistance. PPH supplies a variety of funding options.
PHH Mortgage offers a range of programs including purchase and refinance loans, home equity loans, and free pre-approvals. They guarantee the closing dates of the loans and if they do not close by the specified date, they will reduce the borrower’s interest rate by 1/8 percent for the life of the loan.
PHH Mortgage options include :
- 30 Year Fixed Rate Mortgage
- 20 Year Fixed Rate Mortgage
- 15 Year Fixed Rate Mortgage
- Advantage Adjustable Rate Mortgage
- 10/1, 7/1, 5/1, 3/1, Adjustable Rate Mortgage
- 10/1, 7/1, 5/1, 3/1, Interest Only Adjustable Rate Mortgage
- Construction to Permanent Financing
- 7 Year Balloon Mortgage
- Home Equity Line of Credit
- Refinance Loans
The PPH Mortgage website has information about their programs and practices, as well as a learning center to inform clients that are new to the mortgage industry. They offer online as well as telephone pre-approvals. If the borrower wishes to complete the loan application online, the steps to loan approval are provided on PPH Mortgage website, which includes both payment and amortization calc ulators. Clients can save and review data, as well as track the progress of their application.
Countrywide Financial Corporation
Countrywide Financial is a holding company that provides mortgage banking and related financial services. Headquartered in Calabasas California, they serve the entire U.S. They operate through many subsidiary companies, including Countrywide Home Loans, Inc., We House America, Land Safe, Countrywide Capital Markets, Countrywide Insurance Group, Countrywide Bank, and CFC International. All of Countrywide Financial’s businesses center around home mortgage lending.
Countrywide Financial offers the following :
- Home Equity Loans
- Refinance Mortgages
- 2nd Mortgage Loans
- Debt Consolidation Loans
- Home Equity Lines of Credit
Countrywide offers Fixed Rate Loans and Adjustable Rate Mortgages for Refinance Mortgages. They offer the Fixed Rate Mortgage in terms of thirty, twenty-five, twenty, fifteen, and ten years for 95% of the home’s value. If you need a Fixed Rate Refinance Loan but don’t have much equity, consider the No Equity Option. This loan offers 100% of your home’s current value. The Adjustable Rate Refinance requires 5-10% equity in your home, and the rate can change either every six months, or every year. You can choose to start your Adjustable Rate Refinance with a fixed rate period of three, five, seven, or ten years.
Countrywide’s mortgage banking segment originates, purchases, and services mortgage loans, primarily in the form of mortgage-backed securities, as well as offering various loan closing services, such as title, escrow, and appraisal. The capital markets segment engages in trading and underwriting mortgage-related fixed-income securities, including mortgage-backed securities, collateralized mortgage obligations, and asset-backed securities; and callable debt, as well as trades securities issued by U.S Department of Treasury. This segment also arranges short term financing and acts as a broker of residential mortgage loans. The insurance segment offers property, casualty, life, and credit insurance, as well as provides reinsurance coverage to primary mortgage insurers.
Countrywide Financial complies with the Fair Housing Act of 1968.
CitiMortgage (CitiGroup)
CitiMortgage is the lending arm of Citigroup. As a member of Citigroup, they are focused on providing high quality mortgage products as part of a collection of financial services that includes banking, insurance, asset management, credit cards, and more.
CitiMortgage helps people achieve home ownership, by being able to fund refinance and home equity loans as the market changes. It is actually one of three mortgage divisions of Citigroup, providing a-paper wholesale and retail mortgage products throughout the U.S.
Loans funded by CitiMortgage include :
- Home Equity Loans
- Refinance Mortgages
- 2nd Mortgage Loans
- Debt Consolidation Loans
- Home Equity Lines of Credit
As an a-paper lender, CitiMortgage specializes in borrowers with good credit and easily documented employment, assets, and equity, although they still do the Fannie Mae conforming 100% combination loans. Their best pricing is usually found in their fixed rate loans, but their ARMs are competitively priced as well.
CitiMortgage does not offer lines for subprime borrowers. There is a separate Citigroup division, CitiFinancial Mortgage, which is solely involved with providing non-prime loans. These are also offered to both consumer direct and wholesale clients, and are competitively priced as compared to mortgage products offered by other exclusively subprime / non-prime lenders.
CitiMortgage claims that what makes them different is their commitment to servicing anyone who needs a mortgage. That means if you are a first time buyer, looking for a refinance, or need to pull some money out of your home, CitiMortgage will be able to fund just about any need you may have. CitiMortgage lends throughout the US, and is subject to the laws of the state in which specific property is located.
Chase Home Finance
Chase Home Finance operates under the Chase and Bank One brands. Chase Home Finance offers mortgage loans through both consumer direct and wholesale channels. It offers extremely competitive interest rates, and reasonable underwriting guidelines, using both Fannie Mae and Freddie Mac products as well as loan products that are funded from their own sources.
Loans funded by Chase Home Finance include :
- 30 Year Fixed Rate Mortgage
- 30 Year Interest Only Fixed Rate Mortgage
- 15 Year Fixed Rate Mortgage
- 10/1, 7/1, 5/1, 3/1, and 1 Year LIBOR Adjustable Rate Mortgage
- 6 month/3 month interest only Prime Adjustable Rate Mortgage
- 10/1, 7/1, and 5/1 Interest Only LIBOR Adjustable Rate Mortgage
- Jumbo Loans
- First Time Buyer Plans
- Chase Premier Home Equity Line of Credit
- Chase Home Equity Loan
- Chase EZ Purchase Loan
- Chase Land Purchase Loan
- Chase Bridge-to-Purchase Loan
They offer a comprehensive line of Home Equity Loans and Lines of Credit (HELOC) in addition to conventional home purchase and refinance loans. The Chase Home Finance website provides an extensive amount of program and pricing information, as well as special incentives – including better rates – for customers who apply online.
Greenlight Financial
Greenlight Financial Services is one of the fastest-growing direct-to-consumer mortgage lenders in the U.S. Their loan processing system incorporates the latest computer technology. By streamlining the loan process, they are able to pass on significant savings to the consumer, while at the same time ensuring the most competitive rates as well as excellent customer experience.
Greenlight offers loan programs to help consumers with :
Purchasing – Whether an experienced homeowner or a first-time home buyer, Greenlight provides fast, cost-effective solutions for obtaining home loans. They offer a variety of home loan options, at competitive very rates.
Refinancing – In order to consolidate debt, take cash out, start home improvements or reduce monthly mortgage payments, Greenlight provides fast, cost-effective solutions for refinancing first mortgages at low competitive rates and no out-of-pocket costs.
Home Improvement – To improve the value of a home and build more equity, Greenlight offers home improvement loans. They can provide a home improvement loan fast, with less paperwork and more convenience.
Debt Consolidation – Greenlight has loan programs that will help customers who need to pay off high-interest credit cards and other debts. Their loan agents help find the right solution which could range from a home equity line of credit to refinancing a first mortgage with cash out.
Imperfect Credit – For less than perfect credit, Greenlight can help. They have several bad credit home loan options for people with poor credit -- fast, cost-effective solutions that will help customers get the money they need to help get on track, lower expenses and even help improve credit.
Home Equity Line of Credit – With a simplified lending process, their home equity line of credit and other home equity loan programs are designed to provide customers with several options to get the money they need. Getting a home equity line of credit or another type of second mortgage from Greenlight is easy. They offer customers fast, cost-effective solutions.
HMS Capital
HMS Capital can introduce you to entirely new concepts in mortgage lending with some of the most unique mortgage products available on the market today. HMS Capital has developed the “No-cost Loan.” Providing homeowners the ability to refinance their homes with literally no cost to the transaction and no pre-payment penalty. This has allowed homeowners to take advantage of the market and lower their interest rates over and over again as the markets improved. They have successfully completed thousands of refinance transactions helping homeowners improve their financial position and provide stability for their families.
They have pioneered the “Ten-Year Loan,” significantly reducing the amount of interest a borrower would pay and providing true homeownership with a free and clear home in a mere ten years. This program has proven to be very affordable, often times keeping in line with the homeowners current monthly cash-flow. With proper restructuring, the homeowner can retire early with a free and clear property, having saved tens to hundreds of thousands in interest over the term of the loan.
HMS Capital offers home loans that include :
Traditional Fixed Rate Loans
- Fix your current adjustable.
- Shorten your term..
- No up front fees.
- No prepayment penalty.
- This loan program is also available with a no cost option.
2nd Mortgage Home Equity Loans
- Use available equity for a long term purchase.
- Replace your home equity line of credit.
- Make home improvements.
- Pay off high interest rate credit card debts.
Quicken Loans
Quicken Loans is one of the largest online mortgage lender in the U.S. Quicken Loans, previously Rock Financial Corporation, was founded in 1985. They have become one of the largest independent mortgage banks in America. In 1998, Rock Financial went public with a succcessful IPO. The company next launched Rockloans.com in early 1999. At the end of 1999, Intuit Inc., developers of the software Quicken Turbo Tax and Quicken, purchased Rock Financial and renamed the company Quicken Loans, a main provider of direct-to-consumer home mortgage loans on the Internet and offering mortgage financing in all 50 states. In mid-2002, it was announced that a group of private investors would purchase the Quicken Loans subsidiary back from Intuit and that deal was completed in July, 2002 and the company retained all Quicken Loans branding.
Quicken Loans offers hundreds of home mortgage loan financing programs, options and solutions. Some the most popular are :
- New Home Purchase Loans
- First-Time Homebuyers Programs
- Interest Only Loans
- No Money Down Loan Solutions
- No Doc or Minimal Doc Loan Options
- SmartChoice Loan Program & Options
- Smart30 Mortgage Program & Options
- PMI Buster Loans & Options
- SmartOption-Quicken’s Exclusive PayOption ARM Program
- Refinancing Loan Options
- Home Equity Loan Options
- Home Equity Line of Credit (HELOC) Loans
- Jumbo Loans
- Fixed-Rate Mortgage (FRM) Programs
- Adjustable Rate Mortgage (ARM) Programs
Quicken Loans provides consumers with thousands of home lending professionals who are dedicated to obtaining the perfect loan for their customers in order to finance their home.
HSBC
The Hong Kong Shanghai Bank Corporation (HSBC) has over 9,700 offices in 77 countries and territories the world over. The HSBC group began life in 1865 in Hong Kong as The Hong Kong and Shanghai Banking Corporation Limited. After three decades of expansion they moved the head office to London in 1993. They continued to grow and expand throughout the Middle Eastern and Asian markets and acquired insurance subsidiaries and numerous banks across Europe. In 1999 HSBC shares began to be traded on the New York Stock Exchange. HSBC acquired Household Finance Company, a leading US lender in 2003. They employ more than 260,000 people worldwide and have over 110 million customers.
HSBC Mortgage Services is a leading mortgage provider that commits to delivering quality service to their customers. They offer a wide range of mortgage products and provide a variety of financial services to their mortgage holders.
HSBC Mortgage Services offers :
- New Home Purchases
- Home Equity Loan Programs
- Home Equity Lines of Credit
- Refinance Mortgage Programs
- 2nd Mortgage Loan Programs
- Debt Consolidation Loans
- Imperfect Credit / Bad Credit Mortgage Loan Programs
- Fixed Rate Loan Programs
- Adjustable Rate Loan Programs
The HSBC Bank website enables the customer to obtain mortgage information directly simply by choosing the country or territory one in which one wishes to make a purchase. An information filled website will pop up in the most common banking language for the area. The customer will then be able to obtain the information needed to apply for a loan and in many cases be able to apply online. With thousands of offices worldwide the customer may apply at a nearby office, as well.
KeyBank
KeyCorp is the holding company for the KeyBank National Association, which provides various banking and financial products and services to individuals and businesses in the U.S. Through their subsidiaries they provide a large range of retail and commercial banking, commercial leasing, investment management, consumer finance and investment banking products and services to individual, corporate and institutional clients.
KeyBank funds a variety of mortgages, both conventional and jumbo. They offer fixed rate mortgages. Down payments can be as low as 3%, with terms running from 10 to 30 years. Adjustable rate mortgages are also offered, in which the interest rate stays fixed for a certain term and then returns to the market rate. These are offered with 1, 3, 5, or 7 year fixed interest terms, and with down payments as low as 5%. KeyBank also funds FHA and VA loans. These are insured by the Federal Housing Authority and the Veteran’s Administration, respectively, and they generally have less strident requirements than conventional loans. The down payment for an FHA loan may be as low as 3% and may even be in the form of a gift. VA loans are open to qualified veterans or their spouses. A down payment may not even be required for a VA loan.
Home equity credit lines are offered through KeyBank. These are for the home owner who wants the security of having some extra cash available, whether for immediate use or later use. The money may be borrowed and repaid as often as necessary over the term of the line. The borrower may also choose a home equity loan. It is a fixed rate loan based on the equity in the borrower’s property. This loan affords the customer a lump sum payout and the certainty of fixed payments for the life of the loan.
Applications are available online for KeyBank’s many loan types. The potential customer may e-mail, phone, or drop by a branch for a loan consultation.
Wells Fargo
Wells Fargo is a diversified financial services company, which means they offer banking, insurance, investment, and mortgage services to their customers. Although community banking is their prime area of business, thirty-three percent of their business is devoted to that area, home equity and mortgage loans account for twenty percent of their business. Wells Fargo Home Mortgage group has over 10,000 mortgage specialists at more than 2,500 locations across the country, Wells Fargo can help you finance your most important investment, that is your home.
Loans funded by Wells Fargo include :
- Home Equity Loans
- Refinance Loans
- 2nd Mortgages
- Debt Consolidation Loans
- Cash Out Loans
Wells Fargo Home Mortgage offers all the traditional home mortgages from ARM to Fixed Rate Mortgages, to construction loans. In addition, they offer an Alternative Documentation option for self-employed or foreign national customers. They also offer a Blended Jumbo Loan for borrowers who want a jumbo loan with lower monthly payments. This loan is a Fixed Rate Mortgage up to the conforming loan amount, then an Adjustable Rate second mortgage that covers the rest of your home purchase. Wells Fargo also offers their customers the Interest-Only Feature. This is available with the 5/1 and 7/1 Adjustable Rate Mortgages and is useful for buyers who intend to refinance within a few years.
Capital One
Capital One is a financial holding company whose principal subsidiaries are Capital One Bank, Capital One, F.S.B., Capital One Auto Finance Inc., and Hibernia National Bank. Capital One offers a variety of consumer lending and deposit products, including credit cards, auto loans, small business loans, home equity loans, installment loans, and savings products.
Capital One offers many home mortgages, but they highly recommend their Fixed Rate Mortgages and Adjustable Rate Mortgages. For Fixed Rate Mortgages they offer the standard thirty, twenty-five, twenty, fifteen and ten year terms. They have minimal to no down payment mortgages for Fixed Rate and Adjustable Rate Mortgages. For people who want to avoid paying mortgage insurance and can put five to ten percent down, they offer the Home Equity Line of Credit, and for people looking for a loan between three-hundred sixty thousand dollars and two million dollars, they have jumbo loans. They also have an excellent debt consolidation loan that allows borrowers to borrow up to 125% of their home value. All of their home loans have low credit score options available.
In many cases the borrower can apply for a loan online or by phone and can receive an approval in as little as thirty minutes. They send the paperwork to your home or office by next day delivery and as soon as you sign and notarize it, you can close your mortgage in ten days or less.
Capital One received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign starting in 2003, the second year of the report.
Eloan
E-Loan offers a full range of home mortgage loans including home equity loans, fixed rate mortgages, adjustable rate mortgages (ARM), and refinance mortgages. E-Loan allows customers to search for the best loan online. This has given mortgage seekers a powerful tool to help them understand, select and manage their home mortgage loans. The company eliminates unnecessary processes, fees, and lack of transparency typically associated with the consumer loan process.
E-Loan offers conventional purchase financing, as well as home equity loans and home equity credit lines (HELOC). The E-Loan website features it's pay-option ARM, a program that allows the client to pay either just the interest, the fully indexed payment, or anything in between, each month, allowing for fluctuations in income that happen from time to time.
Before you choose the right loan for you, it might be wise to understand all your options. Some other loans you might want to be familiar with include interest only loans, LIBOR Mortgages, Cash Out loans, Second Mortgage loans and Reverse Mortgages. Their website features links to various forms of contact, as well as application forms, information about their security and privacy features, as well as general product information.
E-Loan lends throughout the United States, and is subject to the laws of the state in which specific property is located. Since their inception, E-Loan has originated and sold billions in consumer loans.
Indymac Bank
IndyMac Bank, is the largest savings and loan in Los Angeles County and one of the largest thrifts as well as mortgage originators nationwide. IndyMac provides cost-efficient financing for purchasing single-family homes. IndyMac facilitates the acquisition, development, and improvement of single-family homes through its electronic mortgage information and transaction system that automates underwriting, pricing and rate locking on a nationwide basis via the Internet. IndyMac's operating activities primarily consist of three broad categories: mortgage-banking activities, investing activities and home equity lines of credit (HELOC) activities.
IndyMac Mortgage loan options include :
- Home Equity Loans
- Refinance Mortgages
- 2nd Mortgages
- Debt Consolidation Loans
- Home Equity Lines of Credit
- Cash out Refinances
- 125% LTV Loans
- Bad Credit Mortgage Loans
IndyMac's most innovative loan product is their FlexPay ARM. The FlexPay ARM is a good option for the self-employed and the self-disciplined. Each month you can choose from three payment options. You can pay a minimum payment, an interest only payment, or a fully amortized payment. The first option is beneficial if you are low on funds for the month, the second option is a good choice if you want to keep your interest down, and the third option is recommended to pay off your loan on a thirty-year term. The FlexPay ARM is indexed according to 12-MTA. There is no periodic adjustment cap with this loan.
IndyMac offers online pre-approval. To apply for a loan, contact them for further details. In addition to mortgage lending, IndyMac Bank provides other financial services. They offer basic banking services (checking and savings, etc.)
Somerset Mortgage
Somerset Mortgage is a mortgage broker that offers a complete line of loan programs at rates representing top national and regional lenders in the country. They actually do the shopping for you, by researching the market to find the lender that has the best rate for your specific scenario. Their network of lenders vary prices slightly based upon loan size, credit score, and the ability to prove your income. Generally, the larger the loan size, the higher credit score, and the more stable the income, the better the rate.
Whether it is a first home, an investment property, new construction or refinancing, the competitive rates and flexible lending terms offered by Somerset can ensure the right mortgage solution for your particular situation. Somerset maintains one of the broadest product arrays available in the marketplace, including many options in fixed, adjustable, affordable and jumbo loans. Somerset also has special programs for low down payments, FHA / VA loans, less-than-perfect credit, debt consolidation, and other unique needs.
While they work with you to tailor a mortgage solution to your needs, their most popular product offerings include :
Fixed-Rate Mortgages :
- 40-Year Fixed Rate
- 30-Year Fixed Rate
- 25-Year Fixed Rate
- 20-Year Fixed Rate
- 15-Year Fixed Rate
- 10-Year Fixed Rate
- 5-Year Fixed Rate Balloon
- 7-Year Fixed Rate Balloon
Adjustable-Rate Mortgages (ARMs) :
- Short Term 1-Month, 6-Month, 1-Year ARM
- Longer Term 3/1, 5/1, 7/1, 10/1 ARMS
Interest only feature available on both fixed rate loans and adjustable rate loans.
In addition, Somerset offers :
- VA loans
- FHA loans
- Community Home Buyer Loans:
- Special Programs for Less-than-Perfect Credit
- Lot Loans, Construction-Permanent Loans, Home Equity Loans
Bank of America
Bank of America is one of the world's largest financial institutions. It serves individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. It can provide convenient service because it 5,800 retail banking offices, more than 16,700 ATMs and online banking with more than 14 million active users.
Bank of America serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Loans funded by Bank of America include:
- Home Equity Loans
- Refinance Loans
- 2nd Mortgages
- Debt Consolidation Loans
Bank of America mostly offers a-paper fixed-rate and Adjustable Rate Mortgage (ARM) programs. Their best programs are those that can be automatically underwritten using Fannie Mae's Desktop Underwriter or Freddie Mac's Loan Prospector. They were one of the first lenders to offer the Fannie Gold 100% LTV combo program (an 80% first and 20% lenders) designed for premier credit clients.
They also offer Home Equity Loans and HELOC's (Home Equity Lines of Credit), where products in this line include a multiple option ARM. Typically their products are geared toward applicants with excellent credit (FICO). With that said they do offer traditional Fixed Rate Mortgages, Interest Only, Refinance Mortgages, Cash Out Loans, Second Mortgages, Reverse Mortgages, and Home Equity Loans.
As is customary with mortgage lenders that are also a fully functional bank, Bank of America offers special incentives for account holders who take advantage of their mortgage products, including rate improvements for arranging for automatic payment from a Bank of America checking account.
Bank of America lends throughout the United States, and is subject to the laws of individual states.
American Equity Mortgage
American Equity Mortgage Company specializes in helping homeowners/buyers with perfect and less than perfect credit.
American Equity Mortgage Company founded in 1992, offers the standard loan choices, but customizes each loan to fit each customers needs. They emphasize the importance of speaking with a loan officer to determine which loan is right for your situation. They offer Adjustable Rate Mortgages and Fixed Rate Mortgages in a variety of terms, Debt Consolidation for those with many outstanding loans, FHA Loans, Home Equity Line of Credits (HELOC), Refinance, and Interest Only Loans with initial terms of three, five, and seven years.
Applying at American Equity Mortgage
You can submit your loan request applications online, or by calling your local office. American Equity Mortgage Company promises loan approval in a maximum of twenty-four hours, and will pre-qualify you in minutes. An appraiser will visit your home after your loan has been processed. If you choose to accept a loan offer from American Equity Mortgage Company, you can close your loan in as little as one week, and will receive your money four business days after closing. They do not charge application fees, and offer free credit analysis.
American Equity Mortgage in the Community
American Equity Mortgage Company strives to give back to their communities. When it comes to community service, their mission is to “enhance the well-being and quality of life in communities by supporting causes that leave a lasting impact on the regions we serve.” Their focus areas for charity in 2005 were the needs of underprivileged youth, health and medical research, well-being of girls and women, and the arts and education. American Equity Mortgage Company is always accepting requests for charitable funds. They have extensive application information on their website
AXA
AXA Financial is one of the premier U.S. organizations in financial protection and wealth management through its strong brands: AXA Equitable Life Insurance Company, AXA Advisors, LLC, AllianceBernstein, L.P., Sanford C. Bernstein & Co., LLC, AXA Distributors, LLC, and the MONY family of companies, including MONY Life Insurance Company, and U.S. Financial Life Insurance Company. Member: NYSE, NASD, SIPC. AXA Financial had approximately $643.4 billion in assets under management as of December 31, 2005. AXA Financial is a member of the global AXA Group, a worldwide leader in financial protection and wealth management. AXA Group's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific region. AXA Group had $1.25 trillion in assets under management as of December 31, 2005. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The AXA American Depositary Share is also listed on the NYSE under the ticker symbol AXA.
First Union
First Union has made it their goal to help customers with buying or refinancing a home. They are committed to helping people realize the goal of home ownership by tailoring the financing to fit their needs. By working closely with their clients, they are able to determine the loan program that comfortably fits within their budget, yet allows them to buy the "most home" they can afford. Obtaining a mortgage is very complex. Without the right knowledge and help it can become a very frustrating process. First Union strives to ensure that obtaining a mortgage is more of a straight forward process.
The mortgage industry is currently undergoing major changes in the way a homeowner obtains a mortgage. With the arrival of the computer age, technology is allowing for faster and less restrictive lending practices. It is now possible for borrowers to obtain loan approvals in as little as a day, and move in to their new homes within weeks. This is made possible by automated submission and underwriting processes. Borrowers can now fill out mortgage loan applications, online or in a realtor's office after agreeing to an offer.
First Union offers the following mortgage loan programs :
10% Down Investment / Rental Properties – First Union offers many programs to the investment buyer that wants to put the least amount down. Typically these programs differ from a conforming loan in that a slightly higher interest rate is charged. A down payment of 30% is needed to qualify for conforming rates.
100% Financing – First Union offers several no down payment programs such as the Rural Housing Service Loan that increases the number of loans in rural communities. They also have a 100% program for borrowers that have good credit and employment histories, but have no money down for their down payment. In some cases, the closing costs can be included in the loan amount and there is no mortgage insurance.
2% Down – This program allows qualified borrowers with 2% of their own money to purchase a new home at the lowest possible conforming interest rates. This program is actually a 95% loan, where the additional 3% can come from a gift, grant, or unsecured loan. This is a great program for first time home buyers.
3% Down FNMA – This program was designed to assist moderate income first time home buyers. The program allows more flexibility to help borrowers qualify. The borrower is required to complete a Home Buyer Education Course that we offer at no charge and can be completed at home.
5% Down Primary or Second Home Purchase – First Union offers a wide variety of programs for a primary purchase and can even offer 5% financing on a second home for qualified borrowers. Loan approval comes fast and easy with the latest technology, some within an hour. Payment terms can be structured to the borrowers particular needs that include 30, 20, 15 and 10 year fixed rates, ARMs, and many balloon programs.
Home Equity Lines of Credit (HELOC) – First Union has programs for borrowers who wish to keep their first mortgage in place and use their equity for debt consolidations, purchase other properties, or home improvements. Some programs allow up to 100% combined (1st and 2nd mortgage loans) to appraised value. No closing cost HELOCs are also available.
Mortgage Only – Customers can qualify for a new mortgage based on their mortgage payment history only, and installment / revolving credit is not an issue.
NEW 97% LTV – 3% down payment with no geographic or income restrictions. The down payment can be a gift, grant or can come from an employer. Debt ratio is based on your overall profile. The interest rate is a conventional conforming fixed rate.
No Equity 125-145% LTV Programs – These programs are designed for borrowers with very good credit that need cash for home improvements, debt consolidation or major purchases.
No Income Verification – First Union offers financing to self-employed borrowers or special situation individuals who choose or cannot provide income for qualification. They will accept income that is stated up to 85% of the appraised value.
Refinancing, Rate / Term or Cash-Out – Many programs are available to reduce your present mortgage interest rate with little or no "out-of-pocket" cash. They will use up to 100% of the appraised value of your property for some programs. Customers can use the equity in your home for home improvements, college tuition, debt consolidation, the purchase of a boat or car or for "emergency" cash savings.
Sub-Prime Programs – First Union offers purchase, cash-out and debt consolidation programs to borrowers that have slow credit, high ratio borrowers, or properties that do not conform to Fannie Mae guidelines. Typically these loans carry a higher interest rate and more money down.
Ameriquest Mortgage
Ameriquest Mortgage is headquartered in Orange County, California and is comprised of over 250 branches offering services in 46 states. Their niche is largely subprime, and they specialize in debt consolidation loans for medium- to high-risk borrowers. In addition they do offer Fixed Rate Mortgages, Adjustable Mortgages (ARM), Interest Only Loans, LIBOR, Cash Out Loans, Refinance Loans, Second Mortgages, Home Purchase Loans, Reverse Mortgages, Home Equity Lines of Credit (HELOC), or Home Equity Mortgage Loans.
In addition to its financial commitment, the specific steps Ameriquest has agreed to take include:
- Ensuring that borrowers receive a simple one-page form clearly describing all loan terms at least three days before closing.
- Centralizing the appraisal process and instituting random selection of appraisers.
- Requiring sales associates to follow approved scripts to describe loan terms and conditions and ensure that competitive claims regarding interest rates are accurate.
- Implementing measures requiring customers to sign a statement at closing certifying that the information they provided to Ameriquest regarding their stated income is true and correct.
- Ensuring that Ameriquest will only refinance a non-prime loan if there is a benefit to t he borrower.
- Using third-party closing agents to help prevent conflicts of interest.
Ameriquest lends throughout the United States, and is subject to the laws of the state in which specific property is located.
Best Interest Rate Mortgage
Best Interest Rate Mortgage Company offers a full selection of financing options, aggressive rates and individualized customer service. Their primary goal is to help all individuals achieve the American dream of home ownership and to assist all business owners with any financing needs regardless of their current credit situation. They guarantee to service their customers with integrity and with their individual needs in mind. At BIRM Company, they treat their customers as they treat their employees, like family. With cutting edge real time technology, they pledge to update their offerings as the market changes as well as to simplify and expedite the entire loan process. They strive to make your loan experience a smooth and painless one and they will not be satisfied until you are.
Bank One
Bank One is now Chase.
Fremont Mortgage
Fremont Mortgage.net and their parent company, First Equity Direct Corp, have been in existence for over 15 years and have a proven track record for providing superior customer service. They are approved with many wholesale mortgage lenders and banks throughout the country, offering lower rates on a wholesale basis to Fremont Mortgage.com than they would make available directly to the consumer. Fremont Mortgage.com serves its mortgage customers by finding loan programs and the most competitive interest rates to meet their customer’s needs. By providing customer information, Fremont Mortgage.com is able to search literally thousands of loan programs with a very large number of lenders to obtain you the lowest rate possible.
Old Merchants
At Old Merchants Mortgage Bank, we take a personal interest in your financial future. As one of the nation's most innovative mortgage lenders licensed do to business in multiple states, we understand that different people have different borrowing needs and financial circumstances. Because we are independently owned and operated, we are independent thinkers as well as doers. Which means when other lending institutions say "no," we always look for a way to get you the money you need quickly and conveniently with terms that fit your life.
Competitive Loan Rates
Personalized Service
Fast Turnaround
No Income Checks
Good Credit or Bad Credit
Previous Bankruptcies OK
100% Financing Available
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