Programs and Services:
As a wholesale mortgage officer i am able to work directly with the top lenders across the Country to better service any of your home loan needs. This includes but is not limited to: new residential purchases, refinance, investment/rental properties, home equity conversion mortgages (reverse mortgages) and home equity lines of credit (HELOC).
Although many borrowers will be well suited for one of the four following loan programs, i have custom solutions for every borrower to ensure you get the best loan to fit your specific needs and circumstances. Contact me with any questions, or for a free consultation or pre-approval.
1. Conventional Loans
Description: These are the most common type of mortgage and are not insured or guaranteed by the government.
Eligibility: Typically requires a higher credit score (620 or above) and a down payment of at least 3%-5%.
Advantages: Lower interest rates for borrowers with good credit, more flexibility in terms of property types, and no mortgage insurance if the down payment is 20% or more.
Ideal For: Borrowers with good credit and stable income.
2. FHA Loans (Federal Housing Administration)
Description: A government-backed loan program aimed at helping first-time homebuyers and those with lower credit scores.
Eligibility: Down payment as low as 3.5%, credit score typically as low as 580.
Advantages: Low down payment, flexible credit score requirements, and competitive interest rates.
Disadvantages: Requires mortgage insurance (both upfront and annual premiums).
Ideal For: Borrowers with less-than-perfect credit.
3. VA Loans (U.S. Department of Veterans Affairs)
Description: A loan program designed for veterans, active-duty service members, and some members of the National Guard and Reserves.
Eligibility: Military service or a qualifying spouse.
Advantages: No down payment, no private mortgage insurance (PMI), lower interest rates.
Disadvantages: Only available to eligible military personnel and their families.
Ideal For: Veterans, active-duty service members, and surviving spouses.
4. USDA Loans (U.S. Department of Agriculture)
Description: A government-backed loan program that helps low-to-moderate-income buyers in rural and suburban areas.
Eligibility: Income limits based on the area, property must be in an eligible rural area.
Advantages: No down payment, low mortgage insurance, competitive interest rates.
Disadvantages: Strict property location requirements, income limits.
Ideal For: Buyers in rural or suburban areas with low to moderate income.
Why Wholesale?
What is Wholesale Lending?
This is the process where mortgage lenders (also known as wholesale lenders) provide loans to mortgage brokers and sales people (Me) rather than directly to borrowers (You). The brokers/sales people then work with borrowers to help them obtain mortgage loans. The broker acts as an intermediary between the borrower and the wholesale lender, helping the borrower secure the best loan terms available.
1. Lower Interest Rates
- Wholesale Lenders work with brokers who have access to a variety of mortgage products and can shop around for the best rates from multiple lenders. These brokers can negotiate on behalf of the consumer, often securing lower interest rates than those available through retail lenders.
2. Lower Fees
- Wholesale Lenders typically offer more competitive fee structures because they don’t have the overhead costs associated with running branches or storefronts. This can mean fewer origination fees, lower application fees, and generally lower closing costs.
3. Access to a Broader Range of Loan Products
- Wholesale Lenders work with multiple lending institutions and offer a wider selection of loan products. Consumers have access to a variety of loan options, including specialized programs like FHA, VA, or USDA loans, which may be more difficult to find with retail lenders.
Beyond these benefits wholesale lending typically offers more flexibility and customization, a more personalized service as well as increased speed and efficiency.