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Last Updated: 04/18/2025

CloseYourOwnLoan.com

from Magnolia Bank

Last Updated: 04/18/2025

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Rating not yet determined3 total votes
3 users recommend
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Interest Rate Types Offered

  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
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CloseYourOwnLoan.com Review

CloseYourOwnLoan.com services are offered by Magnolia Bank (NMLS #423028), a bank founded in 1919 and based in Hodgenville, KY. CloseYourOwnLoan.com services available in 50 states and Washington, DC.

CloseYourOwnLoan.com FAQ

How does CloseYourOwnLoan.com get paid?

Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.

What fees does CloseYourOwnLoan.com charge?

Although cost should not be the only factor when choosing mortgage brokers, it is smart to compare the rates, fees, and services mortgage brokers offer before making a decision.

Does CloseYourOwnLoan.com charge broker administration fees?

No, CloseYourOwnLoan.com does not charge a broker administration fee.

Does CloseYourOwnLoan.com charge broker loan origination fees?

No, CloseYourOwnLoan.com does not charge a broker loan origination fees.

Does CloseYourOwnLoan.com charge broker upfront fees?

No, CloseYourOwnLoan.com does not charge broker upfront fees.

Does CloseYourOwnLoan.com charge a yield-spread premium?

No, CloseYourOwnLoan.com does not receive a yield spread premium from borrowers. Brokers that are paid a yield-spread premium from lenders have an incentive to steer borrowers to lenders thatt offer higher yield-spread premiums even if they qualify for a lower interest with another lender. This is not always bad for borrowers as it can lower the upfront costs of a mortgage. For instance, borrowers who only plan to hold a mortgage for a few years may find this option cheaper.

What mortgage programs does CloseYourOwnLoan.com offer?

CloseYourOwnLoan.com offers the following mortgage programs:
  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo: Any mortgage with a loan amount above the conforming loan limits set by Fannie Mae and Freddie Mac. As of 2018, the jumbo threshold is $453,100 in most of the United States.

What types of mortgage does CloseYourOwnLoan.com broker?

CloseYourOwnLoan.com works with the following types of mortgages:

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

794 Old Elizabethtown Rd
Suite 100
Hodgenville, KY 42748
(800) 276-2965
Visit Site
Email Support

Other Services by Magnolia Bank

SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

+100

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Everyone recommends
The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

CloseYourOwnLoan.com Community Reviews

Would you recommend CloseYourOwnLoan.com to your friends?

AF

Anthony F.

Apr 22, 2021

May or may not recommend

I got approved with a home loan and everything went smoother than I believed it would, going into this thing but I have no complaints or regrets choosing this company. The staff were very helpful and my loan agent was such a sweetheart. I highly recommend CloseYourOwnLoan.com on any day of the week.
U

Anonymous

Oct 3, 2018

May or may not recommend

I have been through many loans but this was the best experience. Really helpful and nice people.
TJ

Timothy J.

Oct 5, 2017

May or may not recommend

I applied online with Close Your Own Loan and was contacted by Theresa Del Brocco. She helped get me qualified on the first call and the entire application process went very smoothly. I would recommend them to anyone looking for a home loan.

Showing 3 of 3 reviews

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