Mountain West Financial Mortgage Broker
in Mortgage Brokers from Mountain West FinancialUnaffiliated
Mountain West Financial Mortgage BrokerUnaffiliated
in Mortgage Brokers from Mountain West Financial
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Mountain West Financial Mortgage Broker Review
Where does Mountain West Financial Mortgage Broker do business?
Mountain West Financial Mortgage Broker is a licensed mortgage broker (NMLS# 164497) with headquarters in Redlands, CA. It operates in 11 states.
The company was founded in 1990 and helps borrowers find a direct lender that will approve the loan amounts, rates, and terms they require.
How does Mountain West Financial get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
Mountain West Financial offers lender and borrower-paid fee models. Borrowers can choose which model works best for their circumstances. Typically, lender-paid compensation rates result in higher fees for borrowers. However, borrower-paid rates increase the upfront costs of getting a mortgage.
What fees does Mountain West Financial 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 Mountain West Financial Mortgage Broker charge broker administration fees?
No, Mountain West Financial does not charge a broker administration fee.
Does Mountain West Financial charge broker loan origination fees?
No, Mountain West Financial does not charge a broker loan origination fees.
Does Mountain West Financial Mortgage Broker charge broker upfront fees?
No, Mountain West Financial does not charge broker upfront fees.
Does Mountain West Financial charge a yield-spread premium?
No, Mountain West Financial 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.
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What mortgage programs does Mountain West Financial Mortgage Broker offer?
Mountain West Financial 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%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- HARP: A mortgage refinance program for home loans owned or backed by Fannie Mae or Freddie Mac. No minimum credit score or value appraisal required.
- 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 Mountain West Financial broker?Mountain West Financial works with the following types of mortgages:
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- New Mexico