Greenlight Loans/ Greenlight Financial is a direct lender based in California servicing all 50 states nationwide. They were acquired by Nationstar Mortgage in 2013, so you should expect them to go by the name of “Mr.Cooper Mortgage” instead. They’re an online mortgage service, so practically a fast and easy streamlined mortgage process is involved and with excellent customer service, a wide range of competitive rated mortgage loan products and there’s no closing cost within the duration of retaining lower interest rates. If you are interested, be sure to read on for more information!
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Greenlight Loans In-depth Review:
At a first glance, it was pretty difficult to find Greenlight mortgage’s webpage anywhere. Took some deep digging on google and immediately left a red flag considering that they’re an online direct lender, however, by mistake, I overlooked that Nationstar Mortgage acquired them in 2013 and changed the name to “Mr.Cooper Mortgage.” The layout of the website is attractive, up-to-date and easy to navigate on with educational resources implemented meticulously and it all starts with pre-qualifications, so be sure to check them out today.
With regards to their loan types, you can expect Conventional loans, FHA, FHA Streamlined, VA, IRRRL (Interest Rate Reduction Refinancing Loan), HARP, and Jumbo Loans. Unfortunately, they don’t offer Home Equity Line of Credit options. Not necessarily a big deal, they want to keep their portfolio standard for new home buyers and refinancers.
Greenlight Loans Mortgage Summary:
- Apply Now
- Account Type: Mortgage loans
- Availability: Licensed in 50 states
- 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.
Greenlight Loans 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 Light 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.
Greenlight Mortgage Features:
- Compare Mortgage Rates
- No online transaction fees.
- FHA, Conventional, VA, HARP, Jumbo loan types
- Educational Tools & Resources
- Pre-qualify today!
Conclusion:
Nationstar Mortgage acquired GreenLight Financial in 2013, so if you see anywhere in the article where I use loosely “Mr.cooper Mortgage,” it’s because that’s the current and valid name for their mortgage services now. They offer quite the selection of mortgage options and with helpful educational resources and tools, they offer everything there is to reassurance. Compare rates and pre-qualify today. You can look at our other options with a compiled list of our Best Mortgage Rates for all your home-buying needs!