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Freedom Mortgage allows homeowners to purchase homes
by offering loans that meet their needs. True to its name, the company has a variety of loan types and refinancing options available from which homeowners can choose.
Using Freedom Mortgage’s organized process, homeowners can take out a loan without worrying about their monthly mortgage payments. The company offers personalized lending and refinancing, as well as greater flexibility than many other direct mortgage lenders.
Freedom Mortgage operates based on the idea that people should be able to afford their homes comfortably. It offers loan options for low and moderate-income homeowners who want to borrow without high down-payments and interest rates.
With Freedom Mortgage, you get the convenience of applying online, by phone, or in person. For people who want to make their mortgage easy, Freedom Mortgage is one of the best companies to work with.
Freedom Mortgage offers five main types of mortgage loans that you can choose to pay off over a term of 15, 20, or 30 years. For many of its options, the company offers government-insured loans, and it allows mortgages on secondary and investment properties.
Here’s an in-depth look at the types of mortgages that Freedom Mortgage has available and the qualifications you need for each:
Freedom Mortgage lets you apply for a mortgage loan online, but you can also call or request a meeting in-person at one of their 14 locations. If you choose to apply online, use the company’s online application, and follow these steps:
After you’re approved,
Rates and Fees– The Bare Basics
Freedom Mortgage gives you a choice between a fixed-rate or adjustable-rate mortgage. With its fixed-rate mortgages, you can decide to pay the loan back over a 15-, 20-, or 30-year term. Those terms compare to other mortgage lenders, like Quicken Loans, which offers the same terms, while others, like Amerisave and Discover, offer 10- to 30-year terms.
When it comes to its rates, Freedom Mortgage does not disclose specific numbers. According to its website, your rate will be unique to you, and several other factors influence it. Freedom Mortgage will combine these factors to come up with a rate for you.
These factors can include:
Your repayment terms will depend upon whether you chose a fixed- or adjustable-rate mortgage, as well as your interest rate, insurance, and closing costs. They will also vary depending on the type of loan you borrowed. For example, VA and FHA loans will be much different from jumbo loans and offer more lenient terms.
Your APR will also vary, but you can change it by buying discount points. Not all loans come with this option, but according to Freedom Mortgage
, one point is equivalent to 1% of the loan. Therefore, if you purchase a home for $300,000, every $3,000 you put down will get you one point.Freedom Mortgage is available to answer your questions by phone or email Monday through Friday from 8:00 a.m. to 10:00 p.m. and on Saturday from 9:00 a.m. to 6:00 p.m. EST. The company also has online resources for current customers and people considering taking out a mortgage loan.
Freedom Mortgage offers one of the most extensive selections of mortgage loans and refinancing options, rivaled only by Amerisave.
Depending on the type of loan you wish to take out, you may qualify with a credit score as low as 500. Other companies, like Discover and Amerisave, both require higher scores, making Freedom Mortgage a better option for people who need a more accessible loan.
Freedom Mortgage offers some of the most affordable loans and refinancing options available. With so many loan types, from FHA to fixed-rate, you can work with a mortgage lender to determine the right type for you and get started. Freedom Loans has some of the best loans for veterans, as well as low- and middle-income families.
Does Freedom Mortgage serve my state?
Yes, Freedom Mortgage offers mortgage loans and refinancing in all 50 states, as well as Puerto Rico, the Virgin Islands, and the District of Columbia.
What tools does Freedom Mortgage have to help me?
Freedom Mortgage allows you to set up online payments and check statements, and it sends you communication alerts about opportunities to save money. It also gives you access to your escrow information so that you can keep track of everything hassle-free.
Can I qualify for a VA loan?
If you are a current or former Military, National Guard, or National Reserve member, you may qualify for a VA loan. Veterans and their spouses must meet a minimum credit score requirement of 580-620. However, if you are in otherwise good financial standing, Freedom Mortgage may reduce this requirement.
Does Freedom Mortgage offer loans for my property type?
Freedom Mortgage offers loans for primary, secondary, and investment homes. That includes vacation homes.
907 Pleasant Valley Avenue
Mt. Laurel, NJ 08054