What Home Point Financial Mortgage does so well is their ability to support their customers through every step of the mortgage process. Surely, they emphasize such an agenda with consistency that is fairly integrated into their tradition of offering customers the options of conventional, FHA, and even VA loans; So you’ll have the best results picking from their selection of Fixed, ARMs and even goverment backed loans.
Editor’s Note: Home Point Financial serves residents of Alabama, Alaska, American Samoa, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virgin Islands, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
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Home Point Financial Mortgage In-Depth:
One of the very things I solely give props to Home Point Financial on is their easy to navigate mortgage site, essentially subtracting any hassle possible and giving you the most leeway throughout every stage of your mortgage. They organized their commitment and goals with plenty of educational resources beautifully rendered into their site, thus making it so much easier on new home buyers everywhere.
Taking a look at their loan programs, they have a wider selection of loan programs then at least 95% of the mortgage lenders out there with your Conventional, FHA, VA, USDA, JUMBO, HARP, and even your most up-to-date Fannie Mae and Freddie Mac loan programs; Home Ready and Home Possible Loans. In addition to that, they have High Balance Loans, and Renovation loans making finding the most suitable loan towards your financial lifestyle or agenda so much more attainable.
Home Point Financial Mortgage Summary:
- Apply Now
- Account Type: Mortgage Loans – Conventional, FHA, VA, USDA, JUMBO
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Closing Loan: Standard lock period is 15-30 days
Home Point Financial Mortgage Options:
- Conventional – Advantages:
- Purchase programs with as little as 3% down (owner-occupied)
- Fixed Rate Mortgage options available with 10 to 30 year terms
- Adjustable Rate Mortgages (ARMs) available with low interest rate and adjusted payment over time
- Possibility of eliminating mortgage insurance
- Minimum Credit Score of 620
- Jumbo – Advantages:
- Ability to exceed county loan limits
- Finance up to $2.5 million
- Fixed Rate Mortgage options available with10 to 30 year terms
- Adjust Rate Mortgages (ARMs) available
- No mortgage insurance required if your loan to value ratio is greater than 80%
- Minimum credit score of 661
- FHA – Advantages:
- Down payment as low as 3.5%
- Fixed Rate Mortgage options available with 10 to 30 year terms
- Adjustable Rate Mortgages (ARMs) available
- High Balance available in certain counties
- Minimum credit score of 580
- VA – Advantages:
- No down payment
- No private mortgage insurance
- Fixed Rate Mortgage options available with 15 to 30 year terms
- Adjustable Rate Mortgages (ARMs) available
- Refinance with the VA IRRRL
- Minimum credit score of 580
- USDA – Advantages:
- No down payment
- Only 1 credit score required per borrower
- Seller can contribute to the borrower’s closing costs
- Fixed Rate 30 year
- Minimum 620 credit score
- HARP – Advantages:
- Fixed Rate mortgage options available with 10 to 30 year terms
- Adjustable Rate Mortgages (ARMs) available
- No minimum credit score
Home Point Financial Mortgage Basic Requirements:
Below are examples of supporting documents which may be included in a loan file:
Income Documents:
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
Asset Documents:
- Two most recent months’ bank statements. All of the pages.
Other Documents:
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
Conclusion:
Home Point Financial Mortgage’s commitment towards customer satisfaction, and their ability to pump out an exceptional length of loan programs suitable towards almost every consumer out there deserves my 4.4/5 stars. Since they’re a direct lender, they’ll also be able to pump out lower rates and fees than their competitors! If you’re a new home buyer, make sure to check out their helpful additional resources, guides, calculator or anything that can make the process go as smoothly as possible. Also, be sure to check out our Best Mortgage Rates!