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FREEDOME MORTAGE HOW TO

Freedom Mortgage has been accredited with the Better Business Bureau (BBB) since 2001 and has an A+ business rating, a 3.83 out of 5 customer rating from 2,625 customers and 1,289 complaints closed over the past three years. Replace your current mortgage with a new one at a lower interest rate, better terms or to get rid of private mortgage insurance when your equity reaches 20%.Īs of July 2022, Freedom Mortgage has a 4.85 out of 5 rating on Zillow from 1855 customers, who report being thrilled about the helpful and supportive service of their loan officers. The difference in amounts is the “cash out” which can be used to pay off higher-interest debts or other expenses. If you have equity in your home, this loan type replaces your current mortgage with one that has a higher amount.

If you have an existing FHA loan, this option can help you lower your rate and get better terms with easier credit qualification and fewer income documents. If you have an existing VA loan, this streamline refinance option can help lower your interest rate while reducing paperwork requirements. Closing costs and fees can be rolled into the loan amount. Allows you to refinance up to 100% of your home’s value to secure better terms and pay off debts. Other mortgage products offered by Freedom Mortgageįreedom Mortgage also offers these specialized types of mortgages. This company accepts mortgage refinance applications. What types of mortgages can I get through Freedom Mortgage? Wait to be contacted by a loan officer about the next steps.Īlternatively, you can call 87 to connect with a loan officer over the phone.Enter your name, contact information, property address and hit Submit.Go to Freedom Mortgage’s website and select Get Started.

FREEDOME MORTAGE HOW TO

How to apply for a mortgage with Freedom Mortgage

A year-to-date profit and loss (P&L) statement with a balance sheetįreedom Mortgage doesn’t publish its costs and fees on its website, but you can expect closing costs to run between 2% and 5% of your home’s purchase price.

Two years of personal and business tax returns.

Self-employed borrowers will need to provide:

Details of other income sources, assets and debts.

Bank statements for the past two months.

Federal tax returns for the past two years.Your most recent pay stubs for the past 30 days.Employment information for the past two years.Addresses where you have lived for the past two years.

Your name, date of birth, residential address and Social Security number.

Here’s a list of the documents you’ll need to apply for a home loan from Freedom Mortgage.

No history of bankruptcy in the past two years.

Basic eligibility for a mortgage loan includes: To find out if you’re eligible for a Freedom Mortgage home loan, visit the company’s website. And as always, compare at least three to four other lenders to get the best deal.

However, while many customer reviews online are positive, the company has garnered thousands of complaints, with some borrowers mentioning losing money and facing financial hardship after dealing with the company.īecause of these mixed reviews and the fact that you must feel comfortable with your chosen loan officer, we suggest calling to make sure the company is a good fit. If you’re a first-time homebuyer or veteran looking for a government-backed loan with more lenient lending requirements than a conventional loan, Freedom Mortgage might be a good choice.Īs one of the top VA lenders in the US, Freedom Mortgage has experience with government-backed mortgage options and can break down the benefits and help you qualify with customized solutions.