As we speak we’ll try “HomeTown Lenders,” an organization that refers to itself as one of many Southeast’s largest FHA mortgage lenders.
However that’s not all they do. You can too get a house mortgage backed by Fannie Mae, Freddie Mac, the VA, and even the USDA.
They aren’t quick on mortgage choices, nor are they happy with simply wonderful customer support.
Their purpose is to supply unsurpassed customer support and supply purchasers with the “most effective mortgage course of potential.”
This implies leaning on the most recent and best know-how to get the job completed, but additionally offering old school service with a smile.
HomeTown Lenders Quick Information
- Direct-to-consumer retail mortgage lender
- Provides dwelling buy loans and mortgage refinances
- Based in 2000, headquartered in Huntsville, AL
- Licensed to do enterprise in 32 states
- Over 100 department areas and 800+ workers nationwide
- Funded about $5.5 billion in dwelling loans final 12 months
- Most lively in Alabama, California, and Texas
HomeTown Lenders was based within the 12 months 2000 by proprietor and CEO William (Billy) Taylor.
The Huntsville, Alabama-based firm started as a “native mortgage brokerage agency,” and now has greater than 100 branches and 800+ workers.
The corporate has grown by buying “well-respected mortgage lenders” throughout the nation. To that finish, they function like a community of smaller, native lenders.
This offers them the benefit of offering extra private service, versus a big, centralized name middle.
Final 12 months, HomeTown Lenders managed to fund a really wholesome $5.5 billion in mortgages, with greater than two-thirds of manufacturing made up of dwelling buy loans and the rest refinances.
This implies they’re dwelling shopping for specialists, and might be a superb match for a house purchaser, together with first-time consumers who sometimes want extra steerage.
However in addition they do a superb quantity of refinance quantity too, so current owners may additionally be effectively served right here.
They’re at present licensed in 32 states, together with Alabama, Alaska, Arizona, California, Colorado, Florida, Idaho, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming.
The corporate is most lively in California, adopted by their dwelling state of Alabama, together with Texas, Florida, and Washington.
Apply with HomeTown Lenders
HomeTown Lenders operates each a bodily department community and an “on-line storefront” the place you’ll be able to apply for a mortgage digitally.
To start, you’ll be able to both go to a neighborhood department in case you one is located close by or head over to their web site.
Should you go surfing, you’ll be able to seek for department areas by state, use their mortgage resolution device, or just click on on “Apply Now.”
The mortgage resolution device will make it easier to slender down what you’re in search of. Then you definately’ll be routed to a close-by workplace the place you’ll be requested to supply contact information.
At that time, a neighborhood mortgage officer will get in contact to debate mortgage pricing and eligibility.
Should you’re assured you’ll be working with HomeTown Lenders, you too can simply hit the Apply Now button to start.
Their digital mortgage software is powered by SimpleNexus, and features a free smartphone app in case you want to work that manner.
Both manner, you’ll be capable of full most duties electronically, together with the app itself, eSigning disclosures, scanning/importing paperwork, and checking mortgage standing.
As famous, they keep updated on all the most recent tech, but additionally present ample steerage by way of their not-forgotten human contact.
Mortgage Applications Provided by HomeTown Lenders
- Dwelling buy loans
- Refinance loans: price and time period, money out, streamline
- Dwelling renovation loans
- Conforming loans backed by Fannie Mae and Freddie Mac
- FHA loans
- VA loans
- USDA loans
- State housing loans
- Reverse mortgages
- Fastened-rate mortgages: 30-yr, 25-yr, 20-yr, 15-yr, and 10-yr phrases out there
HomeTown Lenders gives a wide array of mortgage applications, together with dwelling buy, renovation, and refinance loans.
Moreover, they’ve reverse mortgages for seniors and those that are retired (or near being retired).
All the most important mortgage sorts can be found, whether or not you want a conforming mortgage backed by Fannie/Freddie, or a rural mortgage from the USDA.
Past that, they are saying they’ve non-conforming choices like jumbo loans, together with state housing mortgage applications, which can embody grants and different help.
You will get a fixed-rate mortgage in quite a lot of completely different mortgage phrases, from 10 years all the best way to 30.
It’s unclear if they provide adjustable-rate mortgages, although there’s a good likelihood they’ll with mounted charges a lot greater lately.
HomeTown Lenders Charges
To get mortgage pricing, you’ll must contact a licensed mortgage officer.
HomeTown Lenders doesn’t publicize pattern mortgage charges on their web site, nor do they checklist their lender charges.
Once you communicate to a mortgage officer, make sure to inquire about any charges that accompany your mortgage price quote.
Collectively, this is called the mortgage APR, and is vital to evaluating different gives you could have acquired from competing banks and mortgage brokers.
The one clue we have now about pricing comes from their point out of relying closely on know-how to extend effectivity and productiveness.
This has apparently enabled them “to supply decrease price mortgage loans than our opponents.”
In fact, it can rely which opponents you communicate to. Simply make sure to collect a number of quotes to make sure you don’t miss out on a greater supply.
HomeTown Lenders Opinions
At Expertise.com, HomeTown Lenders has a strong 4.87-star score out of 5 from about 18,000 buyer critiques.
Take the time to filter the almost 200 particular person mortgage officers to fine-tune your search.
Moreover, the corporate has a 4.9-star score from over 600 Google critiques, together with a 4.83-star score on Zillow from about 65 critiques.
Lastly, HomeTown Lenders has an ‘A+’ score with the Higher Enterprise Bureau (BBB) and has been an accredited firm since 2019.
In closing, it seems HomeTown Lenders is effectively positioned for the house buy market, which is turning into the main focus as mortgage charges rise.
They’ve 1000’s of wonderful buyer critiques, a number of mortgage applications to select from, and a number of methods to use for a mortgage.
Their web site can be chock filled with mortgage guides and FAQ, which tells me they’re most likely good at guiding their clients, particularly first-timers.
The one query marks are mortgage charges and lender charges, which they don’t seem to spell out on their web site.
If pricing can be spot on, they might be an ideal choice to contemplate alongside different banks and lenders.
HomeTown Lenders Execs and Cons
The Good Stuff
- Can apply for a mortgage on-line or in a bodily department
- Digital mortgage software powered by SimpleNexus
- A lot of mortgage applications to select from
- Glorious buyer critiques from 1000’s of previous clients
- A+ BBB score, accredited enterprise
- Free smartphone app
- Free mortgage calculator and on-line mortgage guides
The Maybe Not
- Solely licensed in 32 states in the intervening time
- Don’t publicize mortgage charges or lender charges
(picture: Anderson Silva)