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Immediately we’ll take a look at “HomeTown Lenders,” an organization that refers to itself as one of many Southeast’s largest FHA mortgage lenders.
However that’s not all they do. You may as well get a house mortgage backed by Fannie Mae, Freddie Mac, the VA, and even the USDA.
They aren’t brief on mortgage choices, nor are they happy with simply wonderful customer support.
Their aim is to offer unsurpassed customer support and supply purchasers with the “most effective mortgage course of doable.”
This implies leaning on the newest and best expertise to get the job executed, but additionally offering old school service with a smile.
HomeTown Lenders Quick Details
- Direct-to-consumer retail mortgage lender
- Affords house buy loans and mortgage refinances
- Based in 2000, headquartered in Huntsville, AL
- Licensed to do enterprise in 32 states
- Over 100 department areas and 800+ staff nationwide
- Funded about $5.5 billion in house loans final 12 months
- Most lively in Alabama, California, and Texas
HomeTown Lenders was based within the 12 months 2000 by proprietor and CEO William (Billy) Taylor.
The Huntsville, Alabama-based firm started as a “native mortgage brokerage agency,” and now has greater than 100 branches and 800+ staff.
The corporate has grown by buying “well-respected mortgage lenders” throughout the nation. To that finish, they function like a community of smaller, native lenders.
This provides them the benefit of offering extra private service, versus a big, centralized name heart.
Final 12 months, HomeTown Lenders managed to fund a really wholesome $5.5 billion in mortgages, with greater than two-thirds of manufacturing made up of house buy loans and the rest refinances.
This implies they’re house shopping for specialists, and could possibly be a great match for a house purchaser, together with first-time buyers who usually want extra steering.
However additionally they do a great quantity of refinance quantity too, so present owners can also be nicely served right here.
They’re at present licensed in 32 states, together with Alabama, Alaska, Arizona, California, Colorado, Florida, Idaho, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming.
The corporate is most lively in California, adopted by their house state of Alabama, together with Texas, Florida, and Washington.
Learn how to Apply with HomeTown Lenders
HomeTown Lenders operates each a bodily department community and an “on-line storefront” the place you may apply for a mortgage digitally.
To start, you may both go to an area department for those who one is located close by or head over to their web site.
Should you go browsing, you may seek for department areas by state, use their mortgage resolution device, or just click on on “Apply Now.”
The mortgage resolution device will assist you slender down what you’re searching for. You then’ll be routed to a close-by workplace the place you’ll be requested to offer contact information.
At that time, an area mortgage officer will get in contact to debate mortgage pricing and eligibility.
Should you’re assured you’ll be working with HomeTown Lenders, you too can simply hit the Apply Now button to start.
Their digital mortgage software is powered by SimpleNexus, and features a free smartphone app for those who want to work that means.
Both means, you’ll be capable to full most duties electronically, together with the app itself, eSigning disclosures, scanning/importing paperwork, and checking mortgage standing.
As famous, they keep updated on all the newest tech, but additionally present ample steering through their not-forgotten human contact.
Mortgage Packages Provided by HomeTown Lenders
- House buy loans
- Refinance loans: charge and time period, money out, streamline
- House renovation loans
- Conforming loans backed by Fannie Mae and Freddie Mac
- FHA loans
- VA loans
- USDA loans
- State housing loans
- Reverse mortgages
- Fastened-rate mortgages: 30-yr, 25-yr, 20-yr, 15-yr, and 10-yr phrases accessible
HomeTown Lenders gives a wide array of mortgage applications, together with house buy, renovation, and refinance loans.
Moreover, they’ve reverse mortgages for seniors and those that are retired (or near being retired).
All the key mortgage varieties can be found, whether or not you want a conforming loan backed by Fannie/Freddie, or a rural mortgage from the USDA.
Past that, they are saying they’ve non-conforming choices like jumbo loans, together with state housing mortgage applications, which can embrace grants and different help.
You may get a fixed-rate mortgage in a wide range of totally different loan terms, from 10 years all the best way to 30.
It’s unclear if they provide adjustable-rate mortgages, although there’s a good likelihood they may with fastened charges a lot increased lately.
HomeTown Lenders Charges
To get mortgage pricing, you’ll must contact a licensed mortgage officer.
HomeTown Lenders doesn’t publicize pattern mortgage rates on their web site, nor do they listing their lender charges.
Whenever you converse to a mortgage officer, make sure to inquire about any charges that accompany your mortgage charge quote.
Collectively, this is named the mortgage APR, and is essential to evaluating different gives you could have obtained from competing banks and mortgage brokers.
The one clue now we have about pricing comes from their point out of relying closely on expertise to extend effectivity and productiveness.
This has apparently enabled them “to supply decrease value mortgage loans than our rivals.”
In fact, it’ll rely which rivals you converse to. Simply make sure to collect a number of quotes to make sure you don’t miss out on a greater provide.
HomeTown Lenders Critiques
At Expertise.com, HomeTown Lenders has a stable 4.87-star score out of 5 from about 18,000 buyer critiques.
Take the time to filter the practically 200 particular person mortgage officers to fine-tune your search.
Moreover, the corporate has a 4.9-star score from over 600 Google critiques, together with a 4.83-star score on Zillow from about 65 critiques.
Lastly, HomeTown Lenders has an ‘A+’ score with the Higher Enterprise Bureau (BBB) and has been an accredited firm since 2019.
In closing, it seems HomeTown Lenders is nicely positioned for the house buy market, which is turning into the main focus as mortgage charges rise.
They’ve hundreds of wonderful buyer critiques, plenty of mortgage applications to select from, and a number of methods to use for a mortgage.
Their web site can also be chock stuffed with mortgage guides and FAQ, which tells me they’re in all probability good at guiding their clients, particularly first-timers.
The one query marks are mortgage charges and lender charges, which they don’t seem to spell out on their web site.
If pricing can also be spot on, they could possibly be an ideal choice to think about alongside different banks and lenders.
HomeTown Lenders Execs and Cons
The Good Stuff
- Can apply for a mortgage on-line or in a bodily department
- Digital mortgage software powered by SimpleNexus
- Numerous mortgage applications to select from
- Wonderful buyer critiques from hundreds of previous clients
- A+ BBB score, accredited enterprise
- Free smartphone app
- Free mortgage calculator and on-line mortgage guides
The Maybe Not
- Solely licensed in 32 states in the intervening time
- Don’t publicize mortgage charges or lender charges
(photograph: Anderson Silva)
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