Nations Choice Mortgage

Nations Choice Mortgage Review

Nations Choice Mortgage are offered by Nations Choice (NMLS #164626), a bank founded in 1994 and based in Gilbert, AZ. Nations Choice Mortgage are available in 2 states across the USA.

Key Takeaways

• Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
• 3 different mortgage programs offered. Nations Choice Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
• Financing for single-family and multi-family properties. However, Nations Choice does not offer financing for manufactured homes.
• Standard interest rates types. Nations Choice Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
• Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
• Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
• Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Nations Choice Mortgage.
• Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Nations Choice Mortgage.

Nations Choice Mortgage Pros & Cons

Nations Choice Mortgage FAQ

What is the maximum loan term you can get with Nations Choice Mortgage?

Nations Choice Mortgage offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Nations Choice offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

What is the estimated funding time?

Nations Choice Mortgage will typically fund mortgages within 20 and 30 days of approval.

Does Nations Choice Mortgage charge an application fee?

No, they don't charge an application fee. However, the cost of the loan process is most likely included elsewhere in the closing costs.

Do they charge mortgage origination fees?

Yes, Nations Choice Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Nations Choice Mortgage offers the following mortgage types:

• FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
• VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Nations Choice Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Nations Choice Mortgage allows the following property usage types: 

• Primary home
• Secondary homes and vacation properties
• Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Nations Choice Mortgage is (888) 508-9955.

What is the support contact email?

The support contact email for is customerservice@asmartloan.com.