Hometown Lenders is a fully integrated, multi-channel mortgage lender. We leverage technology and the power of the Internet with a traditional brick and mortar business in order to bring you efficient mortgage financing and unsurpassed customer service.
We offer a complete range of conforming, non-conforming and government loan programs, as well as a variety of options to help your family successfully budget your mortgage.
Our goal is to meet and exceed each client’s expectations, and we do that by offering unsurpassed customer service! At Hometown Lenders, we put People before Profits. Our home town way of doing business has always been to make sure that each customer receives the highest level of personalized, customer service throughout the entire mortgage loan process.
Our clients praise us for the communications that we maintain with them throughout the entire mortgage loan process. We make sure that you always have two points of contact so that you can feel comfortable knowing that someone is just seconds away when you need them. Guaranteed!
Conventional or conforming loans refer to any mortgage that is not insured by the federal government. These types of mortgages follow the terms and conditions set by Fannie Mae and Freddie Mac. They are government sponsored institutions who are the largest purchasers of mortgages in the United States. These loans have stricter qualifying guidelines compared to government insured loans. High credit scores are recommended for this program since it will directly impact your monthly mortgage payment. Your debt to income ratio is also carefully reviewed and needs to be below 45%. A common misconception about conventional mortgages is that a 20% down payment is required in order to qualify. The reality is conventional financing allows for 3% down payment when used in combination with monthly mortgage insurance.
The VA (Veterans Administration) guaranteed home loan is the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required. While most people believe that the VA lends money directly to veterans, it actually just insures the mortgage financed by VA-approved lenders.
The United States Department of Agriculture (USDA) has developed several loans to help low- to moderate-income borrowers to purchase or refinance a home in a designated rural area. The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist rural homebuyers achieve their dream of homeownership. For those who qualify, 100% financing is available, bringing the dream of home ownership within reach. With low interest rates and flexible guidelines a USDA home loan could help you achieve your financial goals. Many homeowners are surprised to find out how many properties just outside major cities qualify for a USDA loan even though they are anything but “rural”.
The Federal Housing Administration (FHA) was created out of the National Housing Act of 1934, and was established to increase home ownership and provide affordable housing opportunities for all Americans coming out of the Great Depression. While most people believe that the FHA lends money directly to borrowers, it actually just insures the mortgage financed by FHA-approved lenders.