Green Tree Mortgage is a mortgage service that deals specifically with handling billings and plenty of other aspects of managing mortgage accounts. When it comes to mortgage, Green Tree Services aren’t necessarily direct lenders. Instead, they work with a broad range of lenders, offering a variety of mortgage products and top-market competitive rates. Avoid the cluster of processed mortgage applications and laggy closing with Green Tree. They hand a variety of mortgage products including 30- and 15- year fixed loans, 3/1, 5/1 and 7/1 hybrid ARMs.
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Green Tree Mortgage Summary:
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- Account Type: Mortgage loans
- Availability: Licensed in 42 states, including DC
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible. You can get your loan approved in as little as three weeks.
Green Tree Mortgage Basic Requirements:
Here’s a quick look at the documents that you’ll need to pull together.
- Copy of drivers license and Social Security card.
- Address(es) for the past two years. Borrowers who have been renting may be asked to get a letter signed by your landlord verifying that you’ve been paying rent and that you’ve paid it on time.
- Employment for the past two years. We’ll need name(s) and address of each employer along with more information on any gap in employment.
- Income for the past two years. The fastest way to do this is to provide your last two tax returns along with copies of your pay stubs from the past two months.
- All money-related assets. You will be asked to provide the last two or three months’ statements from all checking accounts, savings accounts, money market, IRA, mutual fund and brokerage (stock) accounts.
- All debts. Green Tree Mortgage will pull your credit report to reveal the information we need on credit card debt, installment loans (like student loans), car loans and your current mortgage and home equity loans if you’re refinancing.
- The Sales Contract. Mortgage company will need a copy of your original purchase agreement.
Specific situations provide additional documentation, including:
- Income from child support or alimony.
- Self-employed borrowers.
- Borrowers owning investment properties.
- Borrowers with a previous bankruptcy.
- Divorced or separated borrowers.
- Proof of VA eligibility.
Loan Types:
- Traditional Fixed Rate Mortgages
- With a fixed rate mortgage, the interest rate stays the same for the lifetime of the loan. Your monthly payment (for principal and interest) stays the same for the term of the loan. Greentree offers many fixed rate mortgages with terms to fit your budget.
- Adjustable Rate Mortgages
- An adjustable rate mortgage (or ARM) usually starts with an initial interest rate lower than traditional fixed rate loans. After an initial payment period, the interest rate is subject to review and can move up or down based on the movement of a specified “index.” From then on, the rate is reviewed periodically. As the rate changes, so does your monthly payment. Greentree has a variety of adjustable rate mortgages.
- Balloon Mortgage Loans
- A “balloon” mortgage has regular payments of principal and interest that do not fully pay off the loan before its due date. Therefore, it has a balance at the end of the loan term — sometimes almost as much as the original loan amount. This balance can be paid in full, or refinanced at a new rate. Balloon loans tend to have lower rates than comparable fixed rate mortgages. They may be attractive if you need a lower initial monthly payment or plan to move before the loan “balloons.”
- Cash-Back Options
- Cash-back from your Greentree loan is a popular request from our customers. We recognize that today’s families have many needs which can cause you to require additional cash–right now! Your Greentree loan officer can advise you about cash-back options.
Green Tree Mortgage Features:
- Compare Mortgage Rates
- FHA, Conventional, VA, USDA, Jumbo, and Reverse Mortgage loan types
- Educational Tools & Resources
Conclusion:
Green Tree Mortgage isn’t a direct lender, but they work with a good network of top lenders to give you a widened selection of Mortgage loan options as well as competitive rates. The website format isn’t really the most attractive thing I’ve ever seen, but their pre-qualification tool works, as well as their educational tools and resources. Whether you are interested in a new home, remodeling or refinancing your current home, or consolidating your credit card debt, they will work with you to create a customized solution for your goals. You can look at our other options with a compiled list of our Best Mortgage Rates for all your home-buying needs!
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