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HomeMortgageHomeTown Lenders Evaluation: The Newest Tech Coupled with Previous-Normal Buyer Service

HomeTown Lenders Evaluation: The Newest Tech Coupled with Previous-Normal Buyer Service

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Right now 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 glad with simply glorious customer support.

Their objective is to offer unsurpassed customer support and supply purchasers with the “most effective mortgage course of attainable.”

This implies leaning on the most recent and best know-how to get the job performed, but additionally offering old school service with a smile.

HomeTown Lenders Quick Information

  • Direct-to-consumer retail mortgage lender
  • Affords house 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 house loans final 12 months
  • Most energetic 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 provides them the benefit of offering extra private service, versus a big, centralized name heart.

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 house buy loans and the rest refinances.

This implies they’re house shopping for specialists, and could possibly be match for a house purchaser, together with first-time patrons who usually want extra steerage.

However additionally they do quantity of refinance quantity too, so present owners might also be nicely served right here.

They’re presently 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 energetic in California, adopted by their house state of Alabama, together with Texas, Florida, and Washington.

How one can 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 an area department if you happen to one is located close by or head over to their web site.

For those who log on, you’ll be able to seek for department areas by state, use their mortgage determination software, or just click on on “Apply Now.”

The mortgage determination software will enable you slim down what you’re in search of. Then you definitely’ll be routed to a close-by workplace the place you’ll be requested to offer contact information.

At that time, an area mortgage officer will get in contact to debate mortgage pricing and eligibility.

For those who’re assured you’ll be working with HomeTown Lenders, you may as well simply hit the Apply Now button to start.

Their digital mortgage software is powered by SimpleNexus, and features a free smartphone app if you happen to want to work that manner.

Both manner, you’ll be capable to 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 through their not-forgotten human contact.

Mortgage Applications Supplied 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 accessible

HomeTown Lenders presents a wide array of mortgage applications, together with house buy, renovation, and refinance loans.

Moreover, they’ve reverse mortgages for seniors and people who are retired (or near being retired).

All the key mortgage varieties 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 embrace grants and different help.

You may get a fixed-rate mortgage in a wide range 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 an honest probability they may 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 record their lender charges.

Once you converse to a mortgage officer, you’ll want to inquire about any charges that accompany your mortgage price quote.

Collectively, this is named the mortgage APR, and is vital to evaluating different presents you could have acquired from competing banks and mortgage brokers.

The one clue we’ve got 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 value mortgage loans than our rivals.”

In fact, it should rely which rivals you converse to. Simply you’ll want to collect a number of quotes to make sure you don’t miss out on a greater provide.

HomeTown Lenders Evaluations

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 practically 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 nicely positioned for the house buy market, which is turning into the main target as mortgage charges rise.

They’ve hundreds of fantastic buyer critiques, a lot of mortgage applications to select from, and a number of methods to use for a mortgage.

Their web site can also be chock filled with mortgage guides and FAQ, which tells me they’re in all probability 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 also be spot on, they could possibly be an awesome possibility to think about 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
  • Plenty of mortgage applications to select from
  • Wonderful buyer critiques from hundreds 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)

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