Our Mission
At Freeman Mortgage Solutions, our mission is simple: empower our clients to achieve their homeownership goals. We strive to provide a seamless and stress-free mortgage experience by offering tailored solutions, expert guidance, and unwavering support throughout the entire process.
Loan Pre-Approval: Gain a competitive edge in the real estate market with our efficient loan pre-approval process. Know your budget and shop for your dream home with confidence.
Expertise:
Our team of experienced mortgage professionals brings a wealth of industry knowledge to the table. We stay abreast of market trends, ensuring that you receive the best advice and solutions for your unique needs.
Personalized Service:
We believe in the power of personalized service. Every client is unique, and so are their homeownership dreams. Our dedicated mortgage experts take the time to understand your goals, offering customized solutions that fit your financial situation and preferences.
Clarity and Trust:
Building trust is at the core of what we do. We maintain open and transparent communication throughout the mortgage process, keeping you informed and empowered every step of the way.
Benefits of Using a Mortgage Broker
#1 – Speed
A broker doesn’t work at the bank’s speed. They don’t work “banker hours” or turn off the lights at 5:00 PM on the dot. A mortgage broker is a person, not a retail lender. They understand and appreciate the urgency of homebuyers because they’ve most likely been there.
On top of that, they have a sense of urgency because they’re working directly with a borrower. Working with a banker/lender, on the other hand, can be a slow process because the corporate structure gets in the way.
#2 – More options
With a banker/lender, borrowers are limited to what the bank/lender has to offer. Interest rates, dates the funds can be available, and anything else needed is in the hands of the bank/lender. When working with a banker/lender, the bank/lender has the upper hand.
When working with a mortgage broker, borrowers have the advantage. How? Because a broker shops around. They look for the best deal rather than simply placing a borrower’s needs on the desk of a single bank executive and taking what they offer. Plus, mortgage brokers may be better able to serve borrowers with unique financial situations like a self-employed borrower in need of a bank statement loan or a borrower seeking a Jumbo loan with a lower down payment option.
Want a lower interest rate and a lower monthly payment? Working with a mortgage broker to shop for rates and sift through unique home loan financing solutions may be the best option.
#3 – Reduced Costs
Because they have access to a wider range of loans and lenders, mortgage brokers can have a greater chance of saving borrowers time and money. This cost-saving benefit of working with an independent mortgage broker is especially true for economically and socially disadvantaged households.
In fact, borrowers have the potential to save thousands of dollars by working with a mortgage broker. On average, all borrowers working with a mortgage broker saved 2.56% on home loans in 2021 while all low-income borrowers saved 2.94%. If the home sold for $300,000.00 that is a savings of $8,820.00…
List of residential loan options
Conventional Loans:
Fixed-Rate Mortgages (FRM)
Adjustable-Rate Mortgages (ARM)
Government-Backed Loans:
Federal Housing Administration (FHA) Loans
Veterans Affairs (VA) Loans
United States Department of Agriculture (USDA) Loans
Jumbo Loans:
For loan amounts that exceed the conforming loan limits set by Fannie Mae and Freddie Mac.
Home Equity Loans:
Allows homeowners to borrow against the equity in their homes.
Home Equity Lines of Credit (HELOC):
Similar to home equity loans, but offers a line of credit with a variable interest rate.
Non-QM loans are typically offered to borrowers who may not qualify for traditional mortgages due to factors such as unconventional income sources, non-traditional employment, or unique financial situations. These loans often come with higher interest rates and may have different underwriting criteria than traditional mortgages.
Non-QM loans can include a variety of mortgage types, such as:
Bank Statement Loans: These loans consider bank statements instead of traditional income documentation.
Interest-Only Loans: Borrowers pay only the interest on the loan for a specified period, after which they start paying both principal and interest.
Stated Income/Stated Asset (SISA) Loans: Borrowers state their income and assets without providing extensive documentation.
Asset Depletion Loans: Consider the borrower's assets as a source of income for loan qualification.
ITIN & Foreign National Loans: Designed for non-U.S. citizens who want to purchase property in the United States.
Non-QM loans carry higher risks for both lenders and borrowers. Lenders often require larger down payments, charging higher interest rates, or imposing other terms and conditions. Borrowers considering non-QM loans should thoroughly understand the terms and carefully assess their ability to meet the financial obligations associated with these loans.