Overview
Novum Home Loans is a multi-state mortgage lender specializing in VA loans. Its mission is to provide advice and guidance to the military community through their home buying journey. While their specialty is VA Loans, Novum also serves all homeowners looking for competitive rates and clear advice for Conventional, Jumbo, FHA, or USDA loans. Novum’s leadership includes military and industry veterans, ensuring borrowers receive the advice they need.
Suitable For?
Novum Home Loans is best suited for:
- Veterans and active-duty military looking for zero-down VA loans with no PMI.
- First-time buyers who need clear advice and an easy process.
- Buyers looking for competitive rates and a smoother experience.
- Borrowers who prefer working with a lender experienced in VA-specific benefits.
Types of Loans / Products
Novum offers a diverse range of loan types:
VA Loans:
- 0% down payment
- No private mortgage insurance (PMI)
- VA streamlined refinancing
FHA Loans:
- 3.5% down payment minimum
- Designed for first-time homebuyers
USDA Loans:
- 0% down for rural homebuyers
- Income and geographic eligibility apply
Conventional Loans:
- Competitive rates for first-time and repeat buyers
- Clear and simple process
- Easy to understand advice and guidance
Jumbo & Investment Loans:
- Financing for high-value or income properties
Highlights:
- Offers competitive rates
- Offers support from experienced experts
- Deep VA loan expertise
- Recommended for both purchase and refinance loans
The Application Process
Novum Home Loans follows a streamlined application process:
- Get a Quote – Get an idea of the rate for your specific situation.
- Fill Out the Application – Provide the necessary details and information to begin the process.
- Document Collection – Submit ID, pay stubs, tax documents, and military service records (if applicable).
- Pre-Approval – Receive conditional approval and estimated loan terms.
- Processing & Underwriting – Underwriting reviews the complete file.
- Closing – Sign final documents and complete the home purchase or refinance.
The process typically takes 30–45 days, depending on loan type and borrower responsiveness.
Rates and Terms
Novum displays illustrative sample rates on its website, including for VA, FHA, and conventional loans. Specific APRs are not guaranteed and vary by borrower profile, market conditions, and whether discount points are paid. Loan terms range from 15 to 30 years, with flexible structures available for qualifying applicants.
Help & Support
Novum Home Loans provides support via:
While the site does not offer live chat, customers can reach licensed advisors during business hours. The company is headquartered in Austin, Texas. Although not yet rated on BBB or Trustpilot, on-site testimonials highlight responsive service and tailored support for military borrowers.
Summary
Novum works with members of the military community who are looking to buy or refinance a home. The company focuses on providing clear information throughout the mortgage process and takes into account the unique circumstances that can apply to military borrowers.
Physical Address:
Novum Home Loans, 6500 River Place Blvd, Building 7, Suite 250, Austin, TX 78730
Disclaimer: AI was used in the generation of this content, along with human verification.
FAQs