Priority Financial Network Home Mortgage Review

Priority Financial Network Home Mortgage is offered by Priority Financial Network (NMLS #103098), a direct lender founded in 1999 and based in Calabasas, CA. Priority Financial Network Home Mortgage is available in 31 states (and Washington, DC).

• 6 different mortgage programs offered. Priority Financial Network Home Mortgage offers FHA, FHA 203k, VA, jumbo, conforming, and conventional mortgages.
• Financing for single-family and multi-family properties. However, Priority Financial Network does not offer financing for manufactured homes.
• Non-standard interest rates available. Priority Financial Network Home Mortgage offers hybrid 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 Priority Financial Network Home Mortgage.

What is the maximum loan term you can get with Priority Financial Network Home Mortgage?

Priority Financial Network Home 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 Priority Financial Network 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.

Does Priority Financial Network Home Mortgage charge an application fee?

Do they charge mortgage origination fees?

Yes, Priority Financial Network Home Mortgage may charge a loan origination fee.

What mortgage programs are available?

Priority Financial Network Home Mortgage offers the following mortgage types:

• Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
• 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%.
• FHA 203k: An FHA mortgage you can also use to finance home improvements.
• Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
• Conforming conventional loans: Mortgages with loan amounts that are equal or less to the dollar amount limit set by the Federal Housing Finance Agency ($548,250 in 2021) and meet the loan requirements of Fannie Mae and Freddie Mac. Conforming conventional loans typically provide the lowest interest rates for borrowers with an excellent credit score.
• 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 Priority Financial Network Home Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Priority Financial Network Home 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 this business card is (818) 223-9999.