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Last Updated: 04/18/2025

Loan Factory Mortgage Broker

in Mortgage Brokers from Loan Factory, Inc

Last Updated: 04/18/2025

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Interest Rate Types Offered

  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)

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Loan Factory Mortgage Broker Review

Loan Factory Mortgage Broker services are offered by Loan Factory, Inc (NMLS #320841), a licensed broker founded in 2006 and based in San Jose, CA. Loan Factory services available in 50 states and Washington, DC.

Loan Factory Mortgage Broker FAQ

How does Loan Factory Mortgage Broker get paid?

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

What fees does Loan Factory Mortgage Broker 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 Loan Factory Mortgage Broker charge broker administration fees?

No, Loan Factory Mortgage Broker does not charge a broker administration fee.

Does Loan Factory Mortgage Broker charge broker loan origination fees?

No, Loan Factory Mortgage Broker does not charge a broker loan origination fees.

Does Loan Factory Mortgage Broker charge broker upfront fees?

No, Loan Factory Mortgage Broker does not charge broker upfront fees.

Does Loan Factory Mortgage Broker charge a yield-spread premium?

No, Loan Factory Mortgage Broker 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 Loan Factory Mortgage Broker offer?

Loan Factory Mortgage Broker 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.
  • USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
  • VA: 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.

What types of mortgage does Loan Factory Mortgage Broker broker?

Loan Factory Mortgage Broker works with the following types of mortgages:

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Contact

Headquarters

2195 Tully Rd
San Jose, CA 95122
Visit Site

Hours of Operation

Sunday
Closed
Monday
9:00AM - 6:00PM
Tuesday
9:00AM - 6:00PM
Wednesday
9:00AM - 6:00PM
Thursday
9:00AM - 6:00PM
Friday
9:00AM - 6:00PM
Saturday
9:00AM - 3:00PM

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