Did you know that traditional mortgage providers are built to serve…themselves? From the way they’ve structured their compensation to the training they give their sales staff, most companies will offer consumers products and pricing built to serve themselves. At Modern Mortgage, we begin with our client in mind. Our team is empowered to treat the mortgage banking world as our client’s oyster. We can shop on your behalf among hundreds of lenders, big and small, in order to find the product that fits YOU, not us. The best part is that no matter what product you pick, no matter which loan fits you best, we earn to the penny, the same amount. In this way, we incentivize our team not to serve the company or themselves, but YOU, our client. We’re proud of this difference and we hope it catches on in the industry although we’re not holding our breath.
Almost every loan term can be customized to fit your needs so to really find your fit you’ll need to talk to one of our licensed mortgage bankers, but there are a few categories that you might find useful:
Conventional Fixed Rate Loans
Conventional loans come in almost every shape and size and have some great advantages including low down payment option and the ability to avoid mortgage insurance if you have a down payment of 20% or more. With Modern Mortgage, the term and loan size can be custom-fit to meet your needs.
At Modern Mortgage, we realize that not every borrower fits inside of typical lending guidelines. Rather than leave those folks out in the cold, we’ve built strategies that allow us to find financing for all kinds of non-standard situations.
Though not open to the general public, VA or “Veteran’s Administration” home loans are some of the best in the marketplace. I personally love VA loans, they are one of the best benefits our soldiers and service people receive for their efforts on behalf of the nation. VA loans offer some of the easiest to qualify loan terms along with extremely low cost and low interest rates.
An FHA loan is a loan which is underwritten according to the guidelines set forth by the Federal Housing Administration and insured by the same authority. It differs from Conventional lending in several respects. First, because FHA is a department of the government (Housing and Urban Development to be exact) they have the goal to increase home ownership among Americans.