Question

In: Finance

What are some lenders that do home loan refinance with someone of low income, state of...

What are some lenders that do home loan refinance with someone of low income,

state of florida

Solutions

Expert Solution

1)  Busey Bank is a large mortgage lender located in Saint Louis, Missouri. This bank delivers traditional Midwest business pride with award-winning customer service rankings. Busey runs additional offices in Florida, Illinois, Indiana, and Missouri.

2) Chase: Best Traditional Bank- The bank has more than 4,900 branches and nearly half of all American households as customers in some form.

U.S. Retail Banking Satisfaction Study, Chase finished first in California and Florida and scored above average in every other region.

3)  Guaranteed Rate: Best Interest-Only Mortgages

With an interest-only loan, you can often make lower payments every month than with a traditional, conventional loan.

when the interest-only period ends, your mortgage payment balloons to a much higher amount.

4). Citi

Citi's HomeRun mortgage is focused on families that may not have the traditional 20% saved for a down payment, and who are looking for a reasonable mortgage payment to fit into limited income.

5). New American Funding: Best for Poor Credit

New American Funding looks at every application manually before approving or denying a loan. Some online lenders approve or deny instantly based on computer algorithms, making it hard to get a loan with bad credit.

6). loanDepot: Best for Refinancing

LoanDepot makes the refinance process smooth and simple. The company is so popular for refinancing that it has funded more than $100 billion for mortgage loans and refinancing.

7). Quicken Loans: Best Overall

Quicken Loans is a well-known mortgage lender with large online and TV advertising campaigns touting the benefits of its premier Rocket Mortgage product.

Quicken Loans is the biggest mortgage lender for a reason. It has a nationwide footprint and makes applying for a mortgage online very easy on the borrower. It offers competitive rates as well.


Related Solutions

The Sandersons are planning to refinance their home. The outstanding principal on their original loan is...
The Sandersons are planning to refinance their home. The outstanding principal on their original loan is $120,000 and was to amortized in 240 equal monthly installments at an interest rate of 10%/year compounded monthly. The new loan they expect to secure is to be amortized over the same period at an interest rate of 7%/year compounded monthly. How much less can they expect to pay over the life of the loan in interest payments by refinancing the loan at this...
When in the duration of the loan is it optimal to do cash-out refinance? What about...
When in the duration of the loan is it optimal to do cash-out refinance? What about non-cashout refinance?
what are the best lenders for a 80/15/5 piggy back home loan ? I currently live...
what are the best lenders for a 80/15/5 piggy back home loan ? I currently live in California and the property I'm interested in is in NYC
When someone is on a 'low carb' diet, what foods do they generally avoid or limit?
When someone is on a 'low carb' diet, what foods do they generally avoid or limit?
What are some of the explanations for why minorities and residents in low-income neighborhoods are disadvantaged...
What are some of the explanations for why minorities and residents in low-income neighborhoods are disadvantaged in capital markets? What are some strategies that communities can use to address these problems?
What are some of the key arguments for increased aid funding to low-income countries?
  What are some of the key arguments for increased aid funding to low-income countries? What are some debates on what this aid should look like?
What are some of the key arguments for increased aid funding to low-income countries?
What are some of the key arguments for increased aid funding to low-income countries?
Georgia state. Does your state have an income tax? What percentage of your income do you...
Georgia state. Does your state have an income tax? What percentage of your income do you have to pay in state income tax? What about property taxes and sales taxes? How do these taxes in your area compare to those in three other states and communities of your choice?
Would buying a home using a partially amortizing loan allow someone to buy a bigger house?...
Would buying a home using a partially amortizing loan allow someone to buy a bigger house? Why? Which would most likely have a higher payment over the first year a 3/1 ARM or a 30-year mortgage? Which one is riskier? Why?
what are some examples of low start up passive income streams I.E describe passive income streams...
what are some examples of low start up passive income streams I.E describe passive income streams that require a minimal or no money to establish.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT