Last Updated: 04/18/2025
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Highlights
Interest Rate Types Offered
- Fixed-Rate Mortgage
- Adjustable-Rate Mortgage (ARM)
Omni-Fund Review
Omni-Fund services are offered by Omni-Fund (NMLS #4869), a licensed broker founded in 1996 and based in Murrieta, CA. Omni-Fund services available in 15 states.
Omni-Fund FAQ
How does Omni-Fund get paid?
Mortgage brokers get paid either by lenders or by borrowers. However, they cannot receive compensation from both parties.
What fees does Omni-Fund 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 Omni-Fund charge broker administration fees?
No, Omni-Fund does not charge a broker administration fee.
Does Omni-Fund charge broker loan origination fees?
No, Omni-Fund does not charge a broker loan origination fees.
Does Omni-Fund charge broker upfront fees?
No, Omni-Fund does not charge broker upfront fees.
Does Omni-Fund charge a yield-spread premium?
No, Omni-Fund 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 Omni-Fund offer?
Omni-Fund 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%.
- 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 Omni-Fund broker?
Omni-Fund works with the following types of mortgages:| Supported Options | Unsupported Options |
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