Supreme Lending Home Purchase Mortgages Review

Supreme Lending Home Purchase Mortgages is offered by Supreme Lending (NMLS #2129), a direct lender founded in 1995 and based in Dallas, TX. Supreme Lending Home Purchase Mortgages is available in 50 states (and Washington, DC).

• 4 different mortgage programs offered. Supreme Lending Home Purchase Mortgages offers FHA, FHA 203k, USDA, VA, conforming, and conventional mortgages.
• Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
• 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.

How much can you borrow via Supreme Lending?

Supreme Lending allows borrowers to apply for loan amounts of up to $1,500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Supreme Lending?

Supreme Lending offers mortgages with terms ranging from 10 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 Supreme Lending 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 Supreme Lending charge an application fee?

Do they charge mortgage origination fees?

Yes, Supreme Lending may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Supreme Lending 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%.
• FHA 203k: An FHA mortgage you can also use to finance home improvements.

What property usage types does Supreme Lending allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Supreme Lending 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 (877) 350-5225.

How do people rate the customer service and user experience?

Overall, this business credit card is mostly not recommended based on community reviews that rate customer service and user experience.