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If you’re like me, you’ve received lots of mailers from a bank called “Third Federal Savings & Loan,” promising a low rate mortgage with very few fees.

After maybe the 10th piece of mail from them came through my mailbox, I decided it was finally time to write a review. So here we go.

Third Federal Has Been Around Since 1938

  • Began during Great Depression in Cleveland, Ohio
  • Initially served immigrants from Poland and other Eastern European countries
  • Now operates in 25 states and DC, with branches in Florida and Ohio
  • They are a direct mortgage lender that offers purchase loans, refinances, and home equity products

First off, let’s talk a little history. Third Federal isn’t a newcomer like Better Mortgage or Rocket Mortgage.

They’ve been around since 1938, which if you’re counting, is nearly a century. That gives them some credibility, and if you ask, they’ll tell you that staying power can be attributed to conservative lending.

In other words, avoiding fads and questionable product choices like subprime or Alt-A in exchange for lasting relationships and more stability.

The company was started by Ben S. and Gerome Stefanski in Cleveland, Ohio during the Great Depression, using $50,000 in capital provided by members of the Slavic Village neighborhood.

It began by serving struggling immigrant families from Poland and other Eastern Europe nations who had settled in the area.

Over time, the business grew and thrived, and today they do business in 25 states, and run a branch network in the states of Florida and Ohio.

Where Third Federal Mortgage Operates

As noted, they do business in 25 states and the District of Columbia, but not all products are offered in all states. So pay close attention.

You can get a purchase loan or refinance in the following states: OH, FL, KY, NC, VA, MD, NJ, PA, IN, IL, GA, MO, TN.

And you can get just a refinance in these states: CO, NH, CA, NY, OR, MA, CT, DC, WA.

Additionally, home equity loans are available in: OH, FL, KY, CA, PA, NJ, VA and NC.

Lastly, bridge loans are available in all purchase markets mentioned above if you need to buy before you sell your existing home.

What Home Loan Programs Does Third Federal Offer?

  • You can view real rates and apply for a mortgage online
  • Or generate a free, true pre-approval that can even be locked in
  • They offer lots of interesting conventional loan products like Smart Rate ARMs and jumbo loans
  • But do not offer government loans or finance second homes or investment properties

While they don’t sound like a disruptor in the mortgage space, they do offer a similar digital experience along with interesting loan products.

If you want to apply for a home loan or equity line of credit, you can start the process online in minutes.

You can generate a pre-approval letter and even lock in your rate before you find a property via their prelock option.

The company specializes in conventional loans, meaning non-government stuff backed by Fannie Mae and Freddie Mac, along with jumbo loans on owner-occupied properties.

You won’t find FHA loans, VA loans, or USDA loans here, or mortgages for second homes and investment properties, but they do everything else, including home equity lines of credit.

They offer both fixed-rate mortgages and adjustable-rate mortgages, including lesser-known options like the 3/1 ARM and 10-year fixed mortgage.

Interestingly, their ARMs are tied to the Prime Rate, as opposed to say the LIBOR or some other index. Once the fixed period ends, they reset to Prime minus 1%.

They have two caps, including a periodic cap of 2%, meaning your rate could increase (or decrease) by up to two percentage points at the first adjustment.

And a lifetime cap of 6%, meaning the most the rate could increase during the life of the loan is six percentage points.

Their ARMs come in three different terms, including a standard 30-year term, 15-year term, and 10-year loan term. That’s pretty unique.

Additionally, they offer a discount on jumbo loans as opposed to charging more for them, which is typically the norm.

If you’re happy with your first mortgage, they also offer home equity lines of credit with no teaser or introductory rate.

They say it’s “always Prime minus 1.01%,” a rate they believe is 20% lower than most other lenders.

It comes with no closing costs and no prepayment penalty, and costs just $65 per year after being free the first year.

They also offer construction-to-perm loans and an end-loan mortgage product.

Third Federal Mortgage Rates

  • They openly advertise all their mortgage rates online
  • Rates offered with or without most closing costs (Low Cost option)
  • Their Smart Rate feature allows you to relock your rate whenever you want
  • Appear to be competitive with other lenders but always shop around

One thing I like about this bank is its transparency. They let you know about everything. And it’s no different when it comes to their mortgage rates.

They are advertised right on their website for all to see, without the need to apply or create an account.

You can see current rates for the 30-year fixed, 15-year fixed, 10-year fixed, 5/1 ARM, and 3/1 ARM.

Low Cost Mortgage Option – Pay Just $295 in Closing Costs!

Additionally, they show the “Low Cost” version of many of their loan programs, which requires just $295 in closing costs ($595 in NY).

They pay for everything other than pre-paid items like interest, taxes, and insurance, along with transfer taxes if applicable.

You aren’t on the hook for an application fee, underwriting fee, processing fee, appraisal, credit report, title insurance, recording, notary, and so on.

Nor do you need to pay a loan origination fee or mortgage points, unless you wish to pay discount points to obtain a lower-than-market rate.

These “Low Cost” options come with slightly higher interest rates to offset the lack of closing costs, and could be a good choice for someone who doesn’t plan to keep their mortgage long.

Their rates appear to be pretty competitive, and with low fees and no commissions paid to their loan officers, the APRs are similarly low.

One nice benefit is that they don’t charge extra for cash out refinances, so if you want to tap some equity, your interest rate won’t be higher as a result.

As always, compare their rates to other banks, credit unions, mortgage brokers, and so on to ensure you’re getting the best deal for your particular loan scenario.

Third Federal Smart Rate ARMs Feature Rate Relock Feature

  • Their ARMs feature a free Rate Relock option that allows you to fix your rate at any time
  • If your 3/1 ARM or 5/1 ARM is about to reset higher, you can relock for just $295
  • Fixed rate is then extended for three or five years, respectively
  • You can take advantage of this option as many times as you’d like during the loan term

They also offer a “Rate Relock” feature that allow you to relock your rate at any time if you take out one of their so-called “Smart Rate” adjustable-rate mortgages.

The process is apparently super simple and quick, and does not require an application or appraisal. However, I do believe they check your credit.

You just request the Rate Relock, pay a low $295 fee ($595 in NY), and your new interest rate will be relocked at current rates.

In the month following your request, the new interest rate will go into effect.

That way you don’t have to worry about your ARM exploding higher after the initial fixed period comes to an end.

It could be super beneficial if rates remain low or go down, as you could lower the interest rate on your mortgage without refinancing.

The company says with Rate Relock, “you’ll never have to refinance again!”

While true or not, it’s a neat little feature, just make sure the convenience isn’t built into a higher mortgage rate versus the competition.

Why Use Third Federal to Get a Mortgage?

  • They offer unique home loan programs you can’t find elsewhere
  • Purchase loans come with Lowest Rate Guarantee and On-Time Closing Guarantee
  • Standard rate lock period is 60 days as opposed to just 30
  • They service all the loans they close instead of selling them off to other companies

Assuming you live in a state where they do business and your property qualifies, Third Federal offers some really interesting loan options like ARMs with various loan terms.

Additionally, their mortgage rates appear to be pretty competitive, especially with the lack of most closing costs on their Low Cost option.

If you have a jumbo loan, your rate could be even lower, and all mortgages come with a standard 60-day rate lock as opposed to just 30 days.

Those purchasing a home with a Third Federal mortgage can take advantage of both their Lowest Rate Guarantee and On-Time Closing Guarantee.

And you can take out a mortgage up to 85% LTV without paying private mortgage insurance.

Also, they service 100% of the loans they originate, as opposed to selling them off to some unknown loan servicer you might not like.

Ultimately, they are probably a good choice for someone interested in taking out an ARM vs. a fixed mortgage.

You get added flexibility on the ARM with the Rate Relock feature, which could be really beneficial if mortgage rates continue to stay flat and/or low.

However, as mentioned, they do have some limitations when it comes to borrowing on all property types, and their fixed mortgages might not be as competitive as other banks.

Mortgage Passport Review

Recently, Third Federal launched a new online lending division known as “Mortgage Passport.”

They refer to the company as the coming together of high tech and human touch. In other words, same great service you’d get from a bank, but with the latest technology.

They pride themselves on their low rates, easy-to-use digital loan application, and their “smart” non-commissioned loan officers.

Mortgage Passport appears to offer refinances in the following states: CA, CO, CT, DC, GA, IL, IN, KY, MA, MD, MO, NC, NH, NJ, NY, OR, PA, TN, VA, and WA.

The Mortgage Passport division seems to be focused on refinances, and specifically cash out refinances that allow you to tap equity.

And they aren’t shy about showing off their mortgage rates, with daily rates prominently displayed on their website.

You can easily compare standard closing cost mortgages, no lender fee mortgages, and no closing cost mortgages side-by-side without having to log in or provide personal information.

From what I saw, their mortgage rates were very competitive, even the no-fee options. Note that no cost loans are not available in NY.

To get started, simply head to their website, click on “Apply Online” and you’ll be off to the races.

From there, a loan officer will reach out to review your application and collect a deposit (likely an appraisal fee) so your loan can be processed and underwritten.

While there aren’t a ton of Mortgage Passport reviews just yet, they do have a 4.9-star rating out of 5 on Bankrate from 8 reviews, with a 100% recommend rating.

And on their own website, a 4.8-rating and 100% recommend rating from five reviews. So it appears the feedback thus far is very positive.

If you’re looking for a digital mortgage process and a low mortgage rate on a refinance (with a variety of different closing cost options), Mortgage Passport could be a good choice

(photo: Marcin Wichary)

Source: thetruthaboutmortgage.com

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Today we’ll take a hard look at AmeriHome Mortgage Company, LLC, which is a direct mortgage lender based out of Southern California.

Their current company headquarters are in Thousand Oaks, CA, just north of Los Angeles.

You might recognize the name from Designing Spaces on Lifetime TV, where they are featured.

They have an A+ rating with the Better Business Bureau and a 4.2/5 score with Trustpilot. But first a little background.

AmeriHome History

  • Launched in 1988 as a Michigan-based corporation
  • Later acquired by Impac Mortgage Holdings in 2010
  • Sold to Aris Mortgage Holding Company LLC in 2014
  • Now led by CEO Jim Farush, an ex-Countrywide and PennyMac executive
  • Acquired by Western Alliance Bancorporation in early 2021 for $1 billion

The company was started way back in 1988 as a Michigan-based corporation, but has changed hands several times since then.

It was later sold by Impac Mortgage Holdings in 2014 to Aris Mortgage Holding Company LLC, after becoming a redundant mortgage platform for the company.

AmeriHome is now led by Jim Farush, who is also the current CEO of the company.

His experience includes working as CEO for Countrywide Bank, which was the banking business that backed former #1 mortgage lender Countrywide Financial.

He also helped launch PennyMac, which began as a purchaser of distressed mortgage assets, and later become a full-scale lender.

Clearly he’s got a strong mortgage pedigree, so we’ll assume AmeriHome has ambitions to be one of the top mortgage lenders in the country.

Now let’s dig into the details of what the company offers to its mortgage customers.

AmeriHome Quick Facts

  • AmeriHome derives much of its volume by purchasing residential mortgage loans from correspondent sellers
  • They service and purchase loans in 49 states and the District of Columbia
  • But only offers mortgages via the retail channel in 30 states at the moment
  • Originated $64.5 billion in home loans during 2020 with most volume coming from the states of California and Texas
  • Loan servicing portfolio totaled $98.8 billion as of December 31st, 2020

What AmeriHome Mortgage Offers

  • Home purchase loans
  • Refinance loans
  • Conventional loans (Fannie/Freddie)
  • Government loans (FHA and VA)
  • Fixed mortgages and ARMs

Like most other mortgage lenders, they offer both home purchase loans and refinance loans.

So both existing homeowners and prospective home buyers can get a home loan from AmeriHome.

With regard to loan type, they offer conventional loans, such as those backed by Fannie Mae and Freddie Mac, along with government loans, including FHA loans and VA Loans.

It’s unclear what individual loan programs they offer other than the 30-year fixed and 15-year fixed, though my guess is you can get a variety of adjustable-rate mortgages as well.

AmeriHome Mortgage Rates

I always appreciate it when a mortgage lender lists their mortgage rates on their website.

Sure, they should be taken with a grain of salt because they make a lot of assumptions, such as low LTV and high credit score.

But it shows they’re perhaps a little more transparent than the next guy.

Anyway, based on the rates displayed at the time of this writing, they appeared to be pretty competitive.

The APRs were similarly low, which tells me they may not charge too many fees.

Of course, these are just baseline rates and individual loan scenarios will vary.

Certainly take the time to shop around as you would any other product to ensure you obtain the best pricing.

What States Does AmeriHome Originate Mortgages In?

At the moment, AmeriHome isn’t nationwide, which is one of the potential negatives.

In fact, they only lend in 30 states, and do not originate mortgages in DC either.

They work with home buyers and owners in the following states: AL, AZ, CA, CO, CT, DE, FL, GA, IA, ID, IL, IN, KY, LA, MD, ME, MI, MN, NC, NH, NJ, OH, OR, PA, RI, SC, TN, TX, VA, and WA.

So make sure your state is listed before you consider getting a mortgage from AmeriHome.

Applying for a Mortgage with AmeriHome

  • You can call directly or use the rate quote engine on their website
  • Can get a pre-qualification in minutes and a pre-approval in 24 hours
  • A loan officer will help you submit a loan application
  • Unclear how fully digital their loan process is beyond document upload

To get started, you can call them directly or visit their website and request a rate quote. They do not have any physical branches or a loan officer directory.

Once you fill out some basic questions, like loan amount and credit score, it will populate loan options and rates, without the need for a credit pull.

From there, a loan officer will help you submit a loan application, assuming you want to move forward.

You can also get a pre-qualification in minutes and a pre-approval in 24 hours by the next business day.

They say a “next generation digital platform” powers AmeriHome’s mortgage origination process, but it’s unclear exactly what that entails.

You’re able to submit documents via their secure web portal, but whether you can link financial accounts like other lenders, such as Rocket Mortgage or Better Mortgage, is another question.

In any case, AmeriHome claims its “sophisticated information management tools” allow it to be a direct-to-consumer mortgage lender, which lowers costs that can then be passed onto its customers.

AmeriHome Rewards Program

Once you get a mortgage from AmeriHome, you’ll save $1,095 on origination costs for subsequent loans financed via the company.

In other words, if you wish you refinance your existing home loan with AmeriHome, they’ll give you a discount.

This is very similar to the loanDepot Lifetime Guarantee offered by that company.

To be eligible, AmeriHome Mortgage Company, LLC should appear on the Promissory Note for the loan and you must be listed as a borrower on the note.
As always with these deals, it’s best to shop around beyond your current lender to see what competitors may offer.

Loyalty doesn’t always pay, especially in the mortgage business.

The AmeriHome Rewards Program doesn’t apply to FHA streamline refinances or the VA IRRRL loan.

AmeriHome’s Correspondent Lending Division

Whether you realize it or not, you might get a mortgage from AmeriHome via one of their clients thanks to their sizable correspondent lending division.

They act as a sponsor for independent mortgage bankers, community and regional banks, and credit unions throughout the country.

In other words, these institutions both big and small can offer mortgage products backed by AmeriHome.

They offer all types of loan via this channel, including conforming, FHA, VA, USDA, jumbo, and even non-QM loans.

As such, they refer to themselves as the nation’s 4th largest correspondent investor.

In 2017, they were the first correspondent investor in the country to be endorsed by the American Bankers Association (ABA).

AmeriHome Reviews

As noted, AmeriHome does a lot of its business via the correspondent lending channel, meaning other banks originate loans on behalf of the company.

So many customers may not actually know their mortgage came from AmeriHome.

But they still have roughly 1,300 customer reviews on Trustpilot with a 4.5-star rating out of 5, which is considered excellent.

Per Trustpilot, they typically respond to negative reviews within a week and have replied to 95% of their negative reviews.

In other words, if you have a problem, they will likely respond to it, which is a plus.

They also have an A+ BBB rating and have been accredited since 2018.

Additionally, they have a ~4-star rating out of 5 on the BBB based on customer reviews, which is pretty good relative to most other mortgage companies.

AmeriHome Pros and Cons

The Good

  • Mortgage rates are listed on their website
  • Transparent pricing
  • Clear explanation of loan fees
  • AmeriHome Rewards Program
  • Customer focused a highly rated on Trustpilot
  • A+ Better Business Bureau rating
  • They service home loans

The Possible Bad

  • Not offered in all states (only 30 at the moment)
  • Need a loan officer to submit a loan application
  • Do not seem to offer a fully digital loan process
  • No physical branch locations
  • No USDA loans or home equity products available

Source: thetruthaboutmortgage.com

Apache is functioning normally

Welcome to Sarasota, Florida, a coastal paradise renowned for its breathtaking beaches, vibrant culture, and abundance of natural wonders.  Whether you crave relaxation on sandy shores, immersion in arts and history, or indulgence in culinary delights, Sarasota has it all. To help you make the most of your time in this vibrant city, whether you’re a weathered local or looking at new houses in Sarasota, this Redfin article has a curated list of must-try experiences, along with local insights, that showcase the unique essence of Sarasota. Get ready to create unforgettable memories as you explore the untamed beauty of state parks, savor local delicacies, and uncover the magic of Sarasota.

1. Visit The Lido Key Tiki Bar

“If you are lucky enough to find yourself in Sarasota, head to The Lido Key Tiki Bar at the Ritz-Carlton Beach Club,” recommends Rupert Diggins from Just One For The Road. “This famous beach bar, overlooking the Gulf of Mexico, is a secret haunt for the Sarasota locals. Delicious cocktails are served by the friendliest of bartenders, with excellent food available too. This is the place to go for sunset in Sarasota and is an experience that will live long in your memory.”

2. Get the ultimate beach experience at Siesta Key

Siesta Key Beach is a slice of paradise nestled on the Gulf of Mexico. With its powdery white sands that feel like silk beneath your toes, it’s no wonder this beach consistently ranks among the best in the United States. Picture yourself basking in the warm Florida sun, listening to the gentle waves lapping the shore, and enjoying the breathtaking views. Take a refreshing swim in the crystal-clear waters or simply relax on the beach, savoring the tranquility of this idyllic setting. Whether you’re seeking solitude or a fun-filled day with friends and family, Siesta Key Beach offers the ultimate beach experience that will leave you with lasting memories.

3. Explore Myakka River State Park

“Don’t miss the chance to witness Florida’s vast expanse of unspoiled wetlands, prairies, hammocks, and untethered wildlife that make up Myakka River State Park,” says CASTO, a X.”

“With an abundance of exploration options like hiking, biking, kayaking, boating, or a guided tour, you’ll be able to immerse yourself in ‘old Florida’ as you navigate the trails and river way that meander through the park. You can enjoy the sights and sounds of ospreys soaring through the air, alligators, and turtles sunning along the river, and the sounds of ancient oaks and beautiful palms rustling in the Florida breeze. The Park is open from eight in the morning to sunset, 365 days a year, and for only six dollars per vehicle, the value of the experience is one of the best around.”

4. Visit The Ringling Museum

The Ringling is a cultural treasure that captivates visitors with its grandeur and rich history. Step into a world of art and imagination as you explore the extensive collection of fine art at The John and Mable Ringling Museum of Art. Admire masterpieces by renowned artists and gain insights into different artistic movements. Delve into the captivating world of the circus at the Circus Museum, where you can marvel at vintage costumes, learn about the history of the circus, and even try your hand at circus skills. The beautifully landscaped gardens, with their vibrant blooms and tranquil pathways, provide a serene escape. 

5. Relax at Lido Key Nature Park

“If you’re looking to immerse yourself in the raw beauty of Florida, Lido Key Nature Park is an absolute must-visit,” recommends travel blogger, Michelle Hartz from The Wandering Hartz. “A world away from the usual tourist traps, this hidden gem allows you to truly connect with the natural world. Explore the winding mangrove tunnels by kayak and be sure to keep a watchful eye out for the local wildlife, including playful dolphins, gentle manatees, and majestic sea turtles.”

6. Walk through Selby Gardens

Selby Gardens, or Marie Selby Botanical Gardens, is a captivating 15-acre botanical paradise in Sarasota, Florida. With vibrant displays of rare plants and orchids, it offers a serene and immersive experience. Highlights include the Orchid Display House, Banyan Grove, peaceful koi pond, and mangrove walkway overlooking Sarasota Bay. The gardens also host art exhibitions and educational programs. Whether you’re a horticulture enthusiast or seeking a tranquil escape, Selby Gardens is a must-visit destination.

7. Catch a show at the Sarasota Opera House

Catch a show at the Sarasota Opera House. This architectural gem has been enchanting audiences since 1926, transporting them to a bygone era of grand performances and lavish productions. From classic operas to contemporary works, each production showcases the depth of human emotion and the power of music. As you settle into the plush seats of this meticulously restored theater, you’ll feel the anticipation and excitement in the air. Prepare to be spellbound as the curtains rise, revealing a world where passion, drama, and sublime melodies collide.

8. Kayak Lido Key Beach

Lido Key offers a hidden paradise waiting to be explored. Nestled between the Gulf of Mexico and Sarasota Bay, Lido Key Beach offers the perfect setting for exploring the area’s serene waters. Rent a kayak and paddle through the calm bay or venture out into the open ocean. As you glide along the crystal-clear waters, you’ll have the opportunity to spot a variety of marine life, such as dolphins, manatees, and an array of colorful fish. The coastline is dotted with mangrove tunnels and small islands, providing a picturesque backdrop for your kayak excursion…

9. Shop and dine at St. Armands Circle

St. Armands Circle is a vibrant and bustling destination that seamlessly combines gourmet delights, upscale shopping, and a lively atmosphere. Indulge your taste buds as you explore a culinary paradise filled with an array of restaurants, cafes, and eateries, offering diverse cuisines to satisfy every palate. From fresh seafood delicacies to international flavors, the dining options are as varied as they are enticing. After satisfying your culinary cravings, immerse yourself in a shopping spree at the upscale boutiques and specialty stores that line the streets. Discover unique fashion finds, exquisite jewelry, and one-of-a-kind treasures. 

10. See marine life at Mote Marine Laboratory & Aquarium

Through interactive exhibits, educational displays, and captivating presentations, Mote Marine Laboratory aims to educate and inspire visitors about the importance of marine conservation. Witness breathtaking dolphin and manatee shows that highlight the intelligence and grace of these magnificent creatures. Explore vibrant aquariums teeming with colorful fish, mesmerizing coral reefs, and captivating underwater ecosystems. Engage in hands-on activities and gain a deeper understanding of marine research and conservation efforts.

Source: redfin.com

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Homebridge Financial Quick Facts

    • Headquartered in Iselin, New Jersey
    • Founded in 1989
    • Top-10 privately held nonbank mortgage lender
    • Operates two wholesale mortgage divisions
    • Funded more than $11 billion in home loans in 2018
    • Has roughly 1,000 mortgage loan originators
    • Licensed in all 50 states and the District of Columbia

Today we’ll review Homebridge Financial, which through recent acquisitions has grown to be a top-20 mortgage lender in the United States.

In mid-2019, they acquired HomeStreet Bank’s home loan centers and its personnel, and two years earlier the operating assets of Prospect Mortgage.

They consider themselves one of the largest privately held, non-bank lenders in the United States (in the top-10).

Aside from being a direct-to-consumer retail mortgage lender, they also operate two wholesale mortgage operations.

They include Homebridge Wholesale and REMN Wholesale, so it’s possible you could get a home loan from Homebridge via a mortgage broker.

For the record, REMN stands for Real Estate Mortgage Network.

How to Apply for a Mortgage with Homebridge Financial

When it comes to applying for a mortgage, you can visit a Homebridge branch if there’s one nearby or use their loan originator directory if you’ve been referred by someone.

Or you can simply input some basic information on their website and a loan originator will get back to you.

If you know the name of the individual you want to work with, you can also enter it via the short form on the Homebridge website to ensure you’re paired with the right person.

Homebridge has physical branches in the following states: AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, MA, MD, ME, MO, NC, NJ, NV, NY, OH, OR, PA, RI, SC, TX, VA, VT, WA.

While many so-called digital lenders allow you to complete much of the loan process online without speaking to anyone (think Rocket Mortgage or Better Mortgage), Homebridge appears to be big on building relationships.

And they feel that “using an online mortgage lender just doesn’t provide the same kind of personalized service.”

Unfortunately, there’s no mention of a digital loan process. So for those who like convenience over all else, Homebridge might be lacking somewhat.

But for those interested in a human touch, they could be a good choice.

What Homebridge Financial Offers

  • Home purchase loans and refinance loans
  • Conforming, jumbo, government, and interest-only loans
  • Fixed-rate and adjustable-rate loan programs
  • Renovation loans including FHA 203k and Fannie Mae HomeStyle
  • Mortgages on second homes and investment properties
  • Reverse mortgages
  • Energy Efficient Mortgages
  • Mixed use and Commercial loans
  • VA 100% cash out
  • Non-warrantable condos

Homebridge allows you to purchase a home, renovate one, or refinance an existing mortgage, including the option to pull cash out.

They offer all the usual loan types, including conventional, FHA, USDA, and VA loans.

Loan programs include fixed-rate mortgages like the 30-year and 15-year, along with adjustable-rate mortgages such as the 5/1 ARM.

You can also get a jumbo and even a super jumbo loan with them, along with a interest-only home loan, reverse mortgage, or a renovation loan (FHA 203k or Fannie Mae HomeStyle).

In terms of niche offerings, you can get a VA 100% cash out loan, a construction-to-perm loan, an energy efficient mortgage, mixed use and commercial, and even financing on a non-warrantable condo.

They also have a builder division devoted to helping real estate agents and home builders sell more homes, with extended rate locks and a dedicated condo/co-op approval process.

Homebridge Financial Mortgage Rates

With regard to their mortgage rates, we’re in the dark here because they don’t openly advertise them on their website or elsewhere.

That’s not to say they’re bad or just average. In fact, they could be really good, we just don’t know because they don’t have a page on their website dedicated to them.

Additionally, we don’t know much about their lender fees because those are also nowhere to be seen.

Again, they could be in line with industry averages, lower, or higher. But they seem to keep this information to themselves.

So if you’ve gotten a mortgage quote from Homebridge, be sure to compare the rate and closing costs to those of other lenders. Otherwise you won’t know how competitive they are.

Homebridge Home Rewards

One perk offered by Homebridge is the “Homebridge Home Rewards” program, which provides customers with a gift card valued at up to $595.00 for taking out a home purchase loan or mortgage refinance loan.

You must make the gift card request prior to loan origination, and your mortgage must be either an FHA loan, VA loan, or a conventional conforming loan.

The following types of borrowers are eligible:

  • Members or employees of an approved Affinity company
  • Members, volunteers, donors or sponsors of an approved non-profit
  • Military
  • Law Enforcement
  • Teachers
  • Firefighters/Emergency Medical Technicians

For non-profits, eligible borrowers will receive a gift card for up to $250.00 and a $250.00 donation will be made in the borrower’s name to the non-profit.

The minimum loan amount in order to be eligible is $100,000. It is not available in the state of Utah.

Homebridge Financial Reviews

They have a 4.6 out of 5 star rating on Trustpilot, which is considered excellent. It’s based on over 1,650 reviews.

At Zillow, they have a 4.97 out of 5 star rating on nearly 3,000 reviews, which is pretty hard to beat.

Many of the reviews say both the interest rate and fees/closing costs were lower than expected.

They are not an accredited business with the Better Business Bureau (BBB), not that it necessarily matters.

Homebridge Financial Pros and Cons

The Good

  • Excellent customer reviews
  • Free mortgage calculators
  • Licensed in all 50 states and D.C.
  • Tons of loan programs to choose from
  • Homebridge Home Rewards program
  • They service their loans

The Possible Bad

  • Can’t apply for a mortgage directly online
  • Do not advertise their mortgage rates
  • Do not disclose lender fees on their website
  • No digital mortgage process
  • No smartphone app

(photo: Andrew Kearns)

Source: thetruthaboutmortgage.com

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If you’re thinking about buying a home or refinancing an existing mortgage, you may have come across Eagle Home Mortgage on your journey.

They’re more likely to come up if purchasing a home since they are a direct mortgage lender owned by Lennar, which is now the nation’s largest homebuilder thanks to its acquisition of CalAtlantic in April 2018.

In short, Eagle Home Mortgage acts as the home builder’s financing department, though if you buy a home from Lennar you don’t have to use them.

It’s just that borrowers often use the builder’s finance department as opposed to an outside mortgage lender seeing that it’s the easiest and most obvious choice, and usually the path of least resistance.

There may also be some synergies to using affiliated companies, whether it’s a special incentive or just a faster loan process, knowing a home purchase with their builder is on the line.

In 2019, they provided home loan financing to more than 34,000 families looking to purchase a home. Let’s discover more about Eagle Home Mortgage.

Eagle Home Mortgage Fast Facts

  • Retail consumer-direct mortgage lender founded in 1981
  • Subsidiary of Lennar Corp., nation’s largest homebuilder
  • Company headquarters located in Miami, Florida
  • Closed more than 34,000 home purchase loans in 2019
  • More than 1,500 employees nationwide
  • A top-30 mortgage lender overall that specializes in new home purchase financing
  • Does most of their business in Florida and Texas

Where Is Eagle Home Mortgage Licensed?

First things first, you should make sure the company is actually licensed to do business in the state where you reside, or are purchasing a home.

Unfortunately, they are only licensed in less than two dozen states and not nationwide. This clearly has to do with Lennar and its communities, which are located in just 21 states.

As suspected, Eagle Home Mortgage is licensed in 21 states, including: AZ, CA, CO, DE, FL, GA, IL, IN, MD, MN, NJ, NV, NC, OR, PA, SC, TN, TX, UT, VA, WA.

Now if Lennar decides to build new homes in additional states, there’s a good chance Eagle Home Mortgage will move into those states as well.

So if and when you’re interested in buying a Lennar home, expect Eagle Home to be a potential mortgage provider.

Eagle Home Digital Mortgage and Eagle Express Close

  • You can apply online or by phone with their digital mortgage app powered by Blend
  • Or visit a local branch office if you prefer a face-to-face meeting
  • Use their loan officer directory if you’ve been referred to someone specific
  • And take advantage of their Eagle Express Close with e-signing capabilities to fund your loan quickly

The company has the tagline, “Paperless. Effortless. Awesomeness.” It’s in reference to their digital mortgage experience, which I assume is both fast and easy on the environment.

They say you can get pre-qualified in as little as 10 minutes via their digital mortgage process that is powered by fintech company Blend.

You simply fill out a loan application on their website as opposed to having a loan officer walk you through it. Of course, you can do that too if you need a helping hand.

Their digital process also allows you to link bank accounts and other financial information so it can be securely added to your application for more accurate figures and faster processing.

Those who are more old school have the option of using the company’s branch directory to find a local office for a phone call or face-to-face meeting.

And if you’re already working with someone or have been referred, you can use the loan officer directory on their website to find that individual.

When it comes to closing your home loan, Eagle Home also offers a digital process known as “Eagle Express Close” that includes online closings and remote signatures for documents.

You can review and e-sign many of your closing documents before attending your closing appointment, and download them instead of printing them all out.

The process can be faster while also giving you time to review everything with your loan officer, instead of feeling overwhelmed at the closing table.

Eagle Home Mortgage Loan Options

  • Mainly focused on home purchase financing but also offer refinance loans
  • Loan types include conventional and government (FHA, VA, USDA)
  • Offer fixed-rate mortgages and adjustable-rate mortgages in varying terms
  • Jumbo loans and reverse mortgages are also available
  • Their loan officers are well-educated on available down payment assistance (DPA) programs

Eagle Home Mortgage has tons of available loan options, including both conventional loans and government loans.

You can get a mortgage backed by Fannie Mae or Freddie Mac, or an FHA loan, USDA loan, or VA loan.

With regard to home purchase financing, their loan officers are well-versed in the many down payment assistance (DPA) programs that may be available via your local or state government.

Eagle Home Mortgage says it has many DPA options available to help customers become homeowners, seeing that down payment is often the biggest hurdle toward homeownership.

These may be in the form of a second mortgage (or even a third mortgage), or a grant that might not need to be repaid and can typically be used toward both the down payment and closing costs.

Those purchasing or refinancing a more expensive property can also get approved for a jumbo loan via Eagle Home Mortgage.

In the refinance department, they offer both rate and term refinances and cash out refinances, the latter of which can be used to tap into home equity if you need money for other purposes.

They also offer the “Student Loan Debt Mortgage Program,” where they will contribute up to 3% of the purchase price to pay off a borrower’s student loans when they buy a new home from Lennar.

Lastly, they offer reverse mortgages to borrowers aged 62 or older who wish to tap equity without taking on monthly mortgage payments.

The only loan options they seem to be lacking are renovation loans and home equity loan/line programs.

With regard to loan type, you can get a fixed-rate mortgage or an adjustable-rate mortgage with various loan terms, and they offer financing on primary residences, second homes, and investment properties.

They mostly seem to originate 30-year fixed mortgages, with some 15-year fixed mortgages and a smaller proportion of ARMs.

Eagle Home Mortgage Rates

In terms of how competitive they are, they don’t make many mentions of their mortgage rates or lender fees on their website.

However, they recently posted a limited-time promotion pitching “our lowest historic rate,” which was a 2.5% mortgage rate.

It’s unclear what type of mortgage it is, but I assume it’s a 30-year fixed since that seems to be their go-to loan program for their customers.

Now that promotion aside, I can’t say with any certainty how they stack up against other mortgage lenders out there.

Ultimately, you’d have to take the time to shop around. But as mentioned, many Eagle Home Mortgage customers are likely buying Lennar-built homes, so they may want to keep everything in-house, no pun intended.

Remember, you can always use an outside lender if buying a new home from a developer, so it’s wise to set aside some time for comparison shopping.

Eagle Home Mortgage Reviews

The company seems to be very well regarded, with a 4.94 rating out of 5 on Zillow based on roughly 1,600 reviews.

Many of the customer reviews indicate the interest rate was lower than expected, and lots say the fees/closing costs were also lower than anticipated.

So they seem to be well-liked and competitive pricing-wise, assuming these customers shopped around with other lenders.

While they aren’t an accredited business, they do have an A+ rating with the Better Business Bureau, which appears to be based on the lack of customer complaints currently filed against the company.

As always, customer experiences will vary, especially at a very large company. But as noted, their loan officers will likely be highly incentivized to close your loan if it’s also a Lennar-built home.

That means there’s a good chance they’ll do all they can to get your home loan to the finish line.

Eagle Home Mortgage Pros and Cons

The Good Stuff

  • Can apply directly online via a digital mortgage application
  • Lots of loan options and down payment assistance (DPA) programs to choose from
  • If also buying a home from Lennar they might be quick and dedicated to closing on time
  • Eagle Express Close allows you to e-sign many loan documents
  • Great customer reviews on Zillow
  • Free mortgage calculators on site

The Possible Bad Stuff

  • No mention of mortgage rates or lender fees
  • Not licensed in all states
  • No home equity loan products available
  • Might be better suited for purchases rather than refinances

Source: thetruthaboutmortgage.com

Apache is functioning normally

If you’re thinking about buying a home or refinancing an existing mortgage, you may have come across Eagle Home Mortgage on your journey.

They’re more likely to come up if purchasing a home since they are a direct mortgage lender owned by Lennar, which is now the nation’s largest homebuilder thanks to its acquisition of CalAtlantic in April 2018.

In short, Eagle Home Mortgage acts as the home builder’s financing department, though if you buy a home from Lennar you don’t have to use them.

It’s just that borrowers often use the builder’s finance department as opposed to an outside mortgage lender seeing that it’s the easiest and most obvious choice, and usually the path of least resistance.

There may also be some synergies to using affiliated companies, whether it’s a special incentive or just a faster loan process, knowing a home purchase with their builder is on the line.

In 2019, they provided home loan financing to more than 34,000 families looking to purchase a home. Let’s discover more about Eagle Home Mortgage.

Eagle Home Mortgage Fast Facts

  • Retail consumer-direct mortgage lender founded in 1981
  • Subsidiary of Lennar Corp., nation’s largest homebuilder
  • Company headquarters located in Miami, Florida
  • Closed more than 34,000 home purchase loans in 2019
  • More than 1,500 employees nationwide
  • A top-30 mortgage lender overall that specializes in new home purchase financing
  • Does most of their business in Florida and Texas

Where Is Eagle Home Mortgage Licensed?

First things first, you should make sure the company is actually licensed to do business in the state where you reside, or are purchasing a home.

Unfortunately, they are only licensed in less than two dozen states and not nationwide. This clearly has to do with Lennar and its communities, which are located in just 21 states.

As suspected, Eagle Home Mortgage is licensed in 21 states, including: AZ, CA, CO, DE, FL, GA, IL, IN, MD, MN, NJ, NV, NC, OR, PA, SC, TN, TX, UT, VA, WA.

Now if Lennar decides to build new homes in additional states, there’s a good chance Eagle Home Mortgage will move into those states as well.

So if and when you’re interested in buying a Lennar home, expect Eagle Home to be a potential mortgage provider.

Eagle Home Digital Mortgage and Eagle Express Close

  • You can apply online or by phone with their digital mortgage app powered by Blend
  • Or visit a local branch office if you prefer a face-to-face meeting
  • Use their loan officer directory if you’ve been referred to someone specific
  • And take advantage of their Eagle Express Close with e-signing capabilities to fund your loan quickly

The company has the tagline, “Paperless. Effortless. Awesomeness.” It’s in reference to their digital mortgage experience, which I assume is both fast and easy on the environment.

They say you can get pre-qualified in as little as 10 minutes via their digital mortgage process that is powered by fintech company Blend.

You simply fill out a loan application on their website as opposed to having a loan officer walk you through it. Of course, you can do that too if you need a helping hand.

Their digital process also allows you to link bank accounts and other financial information so it can be securely added to your application for more accurate figures and faster processing.

Those who are more old school have the option of using the company’s branch directory to find a local office for a phone call or face-to-face meeting.

And if you’re already working with someone or have been referred, you can use the loan officer directory on their website to find that individual.

When it comes to closing your home loan, Eagle Home also offers a digital process known as “Eagle Express Close” that includes online closings and remote signatures for documents.

You can review and e-sign many of your closing documents before attending your closing appointment, and download them instead of printing them all out.

The process can be faster while also giving you time to review everything with your loan officer, instead of feeling overwhelmed at the closing table.

Eagle Home Mortgage Loan Options

  • Mainly focused on home purchase financing but also offer refinance loans
  • Loan types include conventional and government (FHA, VA, USDA)
  • Offer fixed-rate mortgages and adjustable-rate mortgages in varying terms
  • Jumbo loans and reverse mortgages are also available
  • Their loan officers are well-educated on available down payment assistance (DPA) programs

Eagle Home Mortgage has tons of available loan options, including both conventional loans and government loans.

You can get a mortgage backed by Fannie Mae or Freddie Mac, or an FHA loan, USDA loan, or VA loan.

With regard to home purchase financing, their loan officers are well-versed in the many down payment assistance (DPA) programs that may be available via your local or state government.

Eagle Home Mortgage says it has many DPA options available to help customers become homeowners, seeing that down payment is often the biggest hurdle toward homeownership.

These may be in the form of a second mortgage (or even a third mortgage), or a grant that might not need to be repaid and can typically be used toward both the down payment and closing costs.

Those purchasing or refinancing a more expensive property can also get approved for a jumbo loan via Eagle Home Mortgage.

In the refinance department, they offer both rate and term refinances and cash out refinances, the latter of which can be used to tap into home equity if you need money for other purposes.

They also offer the “Student Loan Debt Mortgage Program,” where they will contribute up to 3% of the purchase price to pay off a borrower’s student loans when they buy a new home from Lennar.

Lastly, they offer reverse mortgages to borrowers aged 62 or older who wish to tap equity without taking on monthly mortgage payments.

The only loan options they seem to be lacking are renovation loans and home equity loan/line programs.

With regard to loan type, you can get a fixed-rate mortgage or an adjustable-rate mortgage with various loan terms, and they offer financing on primary residences, second homes, and investment properties.

They mostly seem to originate 30-year fixed mortgages, with some 15-year fixed mortgages and a smaller proportion of ARMs.

Eagle Home Mortgage Rates

In terms of how competitive they are, they don’t make many mentions of their mortgage rates or lender fees on their website.

However, they recently posted a limited-time promotion pitching “our lowest historic rate,” which was a 2.5% mortgage rate.

It’s unclear what type of mortgage it is, but I assume it’s a 30-year fixed since that seems to be their go-to loan program for their customers.

Now that promotion aside, I can’t say with any certainty how they stack up against other mortgage lenders out there.

Ultimately, you’d have to take the time to shop around. But as mentioned, many Eagle Home Mortgage customers are likely buying Lennar-built homes, so they may want to keep everything in-house, no pun intended.

Remember, you can always use an outside lender if buying a new home from a developer, so it’s wise to set aside some time for comparison shopping.

Eagle Home Mortgage Reviews

The company seems to be very well regarded, with a 4.94 rating out of 5 on Zillow based on roughly 1,600 reviews.

Many of the customer reviews indicate the interest rate was lower than expected, and lots say the fees/closing costs were also lower than anticipated.

So they seem to be well-liked and competitive pricing-wise, assuming these customers shopped around with other lenders.

While they aren’t an accredited business, they do have an A+ rating with the Better Business Bureau, which appears to be based on the lack of customer complaints currently filed against the company.

As always, customer experiences will vary, especially at a very large company. But as noted, their loan officers will likely be highly incentivized to close your loan if it’s also a Lennar-built home.

That means there’s a good chance they’ll do all they can to get your home loan to the finish line.

Eagle Home Mortgage Pros and Cons

The Good Stuff

  • Can apply directly online via a digital mortgage application
  • Lots of loan options and down payment assistance (DPA) programs to choose from
  • If also buying a home from Lennar they might be quick and dedicated to closing on time
  • Eagle Express Close allows you to e-sign many loan documents
  • Great customer reviews on Zillow
  • Free mortgage calculators on site

The Possible Bad Stuff

  • No mention of mortgage rates or lender fees
  • Not licensed in all states
  • No home equity loan products available
  • Might be better suited for purchases rather than refinances

Source: thetruthaboutmortgage.com

Apache is functioning normally

Welcome to Tampa, FL, a city renowned for its vibrant culture, stunning waterfront, and idyllic year-round weather. If you’re in the market for a luxury home in this thriving city, get ready to discover an array of exceptional features and amenities that will leave you captivated. 

Whether you’re considering living in Tampa or currently looking at homes for sale in the city, Tampa’s luxury real estate market offers a diverse range of lavish homes, each boasting unique attributes that cater to the discerning tastes of potential homebuyers. From waterfront properties with private docks and panoramic views to expansive outdoor living spaces, cutting-edge smart home technologies, and luxurious interiors, this Redfin article unveils the extraordinary features that make luxury homes in Tampa truly stand out. Join us as we delve into the world of luxury home features in Tampa, where your dream residence awaits.

1. Waterfront property

One of the most coveted home features in Tampa is waterfront property. Living on the water offers a unique and desirable lifestyle that perfectly captures the essence of this coastal city. Whether it’s a residence situated directly on the waterfront or one with breathtaking water views, this feature instantly adds a touch of tranquility to any luxury home. Imagine waking up to stunning sunrises over the glistening waves, enjoying the gentle sea breeze from your own backyard, and having easy access to various water activities right from your doorstep. 

Folding doors that provide unobstructed water views are a popular feature to create a sense of openness and connection to the natural environment. These expansive doors seamlessly blend indoor and outdoor living spaces, allowing residents to enjoy breathtaking vistas of the surrounding waterways. 

2. New or updated homes

While the city embraces its charming historic architecture, there is a growing demand for modern amenities and contemporary design. New or recently updated homes offer the advantage of modern construction techniques, energy-efficient features, and the latest advancements in home technology.

These homes often boast open floor plans, gourmet kitchens with state-of-the-art appliances, luxurious master suites, and upgraded finishes throughout. From sleek finishes to smart home automation systems, every detail is carefully curated to meet the needs and preferences of today’s discerning homebuyers. 

3. Boat dock

Another sought-after home feature in Tampa, Florida, is a boat dock with a lift. For those who enjoy boating and water sports, having a private dock with a lift adds convenience, security, and endless opportunities for aquatic adventures. When you’re not using the boat, you can use a lift to safely store your boat out of the water, protecting it from the elements and minimizing maintenance. 

4. High-end finishes

In the luxury real estate market, there are several additional features and amenities that can truly elevate a home listing, setting it apart from other properties. High-end finishes, such as unique marble, granite, or quartz, add a touch of luxury to the home. These additional features and amenities not only enhance the aesthetic appeal but also contribute to an elevated living experience.

5. Newly remodeled kitchen

A luxury home feature that is quickly gaining popularity among homebuyers for Redfin Premier listings is a newly remodeled kitchen. In today’s real estate market, the kitchen has evolved into more than just a space for meal preparation—it’s the heart of the home and a focal point for socializing and entertaining. 

A newly remodeled kitchen offers a fresh and modern aesthetic, with sleek countertops, high-end appliances, and custom cabinetry that exudes both style and functionality. It provides a seamless blend of form and function, catering to the needs and desires of discerning homeowners. With open-concept layouts, ample storage, and innovative design elements, these remodeled kitchens are perfect for hosting gatherings and creating culinary masterpieces. 

6. Pool and spa

One of the quintessential luxury home features in Tampa is a pool and/or spa, often accompanied by a spacious lanai. The city’s warm climate and abundant sunshine make outdoor living a year-round delight, and a pool and spa area serves as a private oasis within your own property. Whether you prefer to take dips in the pool, relax in the spa, or simply bask in the sun on poolside loungers, a pool and spa offers endless opportunities for relaxation and recreation. 

The addition of a lanai, a covered outdoor area, provides shade and protection from the elements while allowing you to enjoy the poolside ambiance. It serves as an extension of the living space, perfect for relaxing with a book, entertaining guests, or simply unwinding with family and friends. 

7. Gated communities

Homebuyers in Tampa who are seeking exclusivity, security, and a sense of community often gravitate towards gated communities, especially those situated within prestigious golf communities. 

A gated entry provides an extra layer of privacy and peace of mind, allowing residents to enjoy a heightened sense of security. Within these gated communities, golf enthusiasts have the advantage of convenient access to meticulously designed golf courses, where they can perfect their swing and indulge in their passion for the sport. Additionally, these communities often boast a range of amenities such as clubhouses, fitness centers, swimming pools, and tennis courts, providing a resort-like lifestyle right at your doorstep. 

Top neighborhoods with luxury home features in Tampa

Notable neighborhoods that boast luxury home features include Belleair Beach, Belleair Bluffs, and Belleair Shore, as well as Palm Harbor. These areas are renowned for their exquisite residences and amenities that elevate the standard of luxury living. Bellaire Beach offers an exclusive coastal lifestyle with stunning waterfront properties, pristine beaches, and panoramic views of the Gulf of Mexico. Bellaire Bluffs exudes elegance with its tree-lined streets, upscale homes, and close proximity to boutique shops and fine dining. Bellaire Shores boasts a picturesque setting along the Intracoastal Waterway, offering residents unparalleled waterfront living and access to boating and fishing. Palm Harbor, known for its serene natural beauty and golf course communities, provides a tranquil retreat while still being conveniently located near shopping, dining, and cultural attractions. 

Homebuyers are willing to pay premium prices to live in these neighborhoods, and Belleair Shore, in particular, had a median sale price of $5.92 million in December 2022, about 14x the median sale price of in Tampa.

A final note on luxury home features in Tampa

It’s no surprise that proximity to the water is a defining factor of luxury for many homes in Tampa. While it’s common for homes in Pinellas County to be situated on or near the water, what truly adds to the charm and allure is the fact that not all waterfront homes are created equal. The diversity in locations within the county ensures that each property holds its own unique appeal. 

Some luxury homes may boast direct waterfront access, offering breathtaking views and easy navigation for boating enthusiasts. Others may be nestled in peaceful inland neighborhoods, where residents can still enjoy the coastal lifestyle and the beauty of nearby waterways. The variety of options means that luxury can be found in different settings, catering to the preferences and desires of discerning homebuyers. Whether it’s the tranquility of a waterfront retreat or the proximity to the water’s edge, Tampa offers a range of options that contribute to the overall charm and exclusivity of luxury living in the area.

 A local Redfin Premier agent will provide invaluable insights into the market, including an in-depth understanding of the neighborhoods, pricing trends, and available luxury properties. 

Source: redfin.com

Apache is functioning normally

New Silver, a private lender located in Connecticut that specializes in providing lending to real estate investors, is a major success story. From their recent founding and work in the New England area to their growth across the country to provide lending in a number of states.

Who and Where

Founded in 2018, New Silver’s founding fathers include managing partners Alex Shvayetsky and Kirill Bensonoff. Shvayetsky has a proven track record of more than 25 years working in the real estate sector with a focus on real estate management, property development, and investment. Bensonoff is a tech entrepreneur that has founded and successfully exited companies in enterprise IT and fintech.

Quickly Moving to the Top

Right from its early founding, New Silver wasted no time providing innovative financial services to real estate investors and entrepreneurs. Success came quickly, leading this fintech company to take on bigger and more ambitious projects, with the most recent being the financing of a 50-unit commercial apartment complex in Connecticut to the tune of $2.6 million. This is in addition to its earlier successes in both the residential and commercial markets, where it has aided entrepreneurs in the purchase, refurbishment, and then flipping of a number of properties.

A Technological Approach

New Silver takes a novel and thoroughly modern
approach to real estate finance. New Silver enables its’ borrowers to gain
access to the working capital they need through a streamlined and hassle-free
process that can provide borrowers conditional approval on financing in 10
minutes or less. In addition, New Silver’s tech-first approach helps the
company to reduce risk by looking closer at the underlying data.

This is just one of many examples of how New Silver has differentiated itself from the pack when it comes to your typical real estate lending facilitator. With a displayed commitment to staying as current as possible when it comes to the newest developments in the financial tech sector, New Silver’s dedicated staff keep a close eye on the industry. As a result, it’s likely to find New Silver represented at a number of conferences throughout the year in an effort to better serve borrowers to the excellent standard to which they have been accustomed.

Customer Service as a Rule

The real estate lending industry is a crowded
one. There are a number of lenders that an entrepreneur can approach, and New
Silver knows this — that’s why the company is committed to differentiating
themselves through providing exemplary customer service. You won’t find the
company referring to itself as a “great lender’, as Shvayetsky and
Bensonoff are refreshingly humble when it comes to their accomplishments, but
the primary driver for these managing partners is to have a laser-like focus
when interacting with borrowers, lending partners, and even internal staff.

It’s all about personal attention and clear
communication with New Silver. As a customer service strategy it’s been a clear
winner, as staff say it’s been an overwhelmingly effective method for learning
what people need and how to then deliver on that need. The tactic dovetails
with the other drive behind New Silver, which is to aid in the success of real
estate entrepreneurs.  Borrowers that
partner with the company gain the benefits of New Silver’s attention to detail
and its eagerness to embrace technological developments, such as data-gathering
APIs, in order to make personalized lending more accessible.

The Future of New Silver

New Silver might have gotten its start in the Northeast of the United States, but this lender is expanding quickly, and its’ products are now available to real estate investors in CT, RI, MA, NY, NJ and FL, with more to come. Thanks to its innovative approach and already proven track record, it’s quite clear New Silver bears watching for future success.

For more information on how to obtain a loan contact New Silver at 1 855 844-Loan or follow us on Facebook and LinkedIn.

Ben Shepardson is a Realty Biz News Contributing Writer and has a long track record of success in online marketing and web development. While pursuing a bachelor’s degree in Computer Information Systems, he worked doing enterprise-level SEO and started an online business offering web development services to small business customers.

Latest posts by Ben Shepardson (see all)

Source: realtybiznews.com

Apache is functioning normally

Welcome to the captivating world of luxury homes in Sarasota, FL, where elegance meets coastal charm. Sarasota is renowned for its exquisite properties that redefine the standard of living through their luxury home features. If you’re in the market for a luxury home in Sarasota, prepare to be captivated by the breathtaking waterfront residences that offer panoramic views of the Gulf of Mexico. 

So what are the most sought-after home features that luxury homebuyers desire in this upscale market? From the convenience of a private boat dock and beautiful wine cellars to enhance your experience, Sarasota’s luxury homes are meticulously crafted to exceed expectations and provide an unparalleled living experience for buyers seeking the pinnacle of luxury, convenience, and comfort. In this Redfin article, we explore the top amenities and popular luxury home features in Sarasota.

1. Water view

Owning a home with a mesmerizing water view grants residents the privilege of waking up to breathtaking panoramas. A water view offers a sense of serenity, inspiration, and tranquility, allowing residents to connect with nature and experience a heightened level of relaxation. 

Whether it’s enjoying a morning coffee on the balcony or hosting gatherings with a backdrop of sparkling waters, a water view adds a touch of tranquility and charm that elevates the living experience to new heights. The mesmerizing vistas not only create a sense of serenity but also offer a constant reminder of the natural beauty that surrounds the home. Embracing the soothing sounds of waves or enjoying breathtaking sunsets over the water, a water view enhances every moment, making everyday life feel like a retreat in a private coastal oasis. 

2. Backyard oasis

With Sarasota’s pleasant year-round climate and lush surroundings, it’s the perfect place for homeowners to create their own personal sanctuary within the privacy of their backyard. These meticulously designed outdoor spaces often feature sparkling swimming pools, soothing spas, verdant gardens, and luxurious lounging areas. 

Whether you’re hosting memorable gatherings, unwinding with a good book, or having dinner while enjoying the sunset, a backyard oasis becomes an extension of the home, seamlessly blending indoor and outdoor living. This sought-after luxury feature allows homeowners to embrace the idyllic Sarasota lifestyle, basking in the beauty of nature, and creating cherished memories that will last a lifetime.

3. Wine Cellar

For those of us who enjoy a good glass of wine, having a wine cellar in your home – often decked out with exotic woods and glass walls – offers a dedicated space to safely store and showcase your collection of vintages. A cellar also serves as a private retreat for tastings and entertaining, creating an immersive experience for wine enthusiasts.

4. Beachfront property and a private boat dock

Beachfront property or private beach access is hailed as the epitome of luxury in Sarasota. The beach becomes an extension of your backyard, offering a private sanctuary where you can relax, unwind, and bask in the breathtaking beauty of the Gulf of Mexico.

With the city’s prime location along the Gulf of Mexico and numerous inland waterways, Sarasota is a boater’s paradise, and a private boat dock is also a luxury home feature, providing direct access to the shimmering waters. The convenience of a dock opens up a world of possibilities for boating enthusiasts, allowing them to embark on leisurely cruises, fishing expeditions, or adventurous water sports right from their own backyard. 

Water access can really elevate a home listing in Sarasota and set it apart from the rest. The allure of living near the water is undeniable, and luxury homebuyers seek the unparalleled lifestyle that comes with easy access to the beach and a private boat dock. 

5. Electric car charging

In the era of sustainability and eco-conscious living, the luxury home market is witnessing a rapid rise in the popularity of electric car charging as a coveted feature among potential homebuyers. As electric vehicles become increasingly prevalent, homeowners are seeking the convenience and efficiency of having a dedicated charging station right at their doorstep while reducing their carbon footprint. 

Luxury homes equipped with electric car charging capabilities offer a seamless and eco-friendly lifestyle choice. The presence of a charging station not only caters to the growing number of electric vehicle owners but also signifies a commitment to environmental responsibility. This feature allows homeowners to effortlessly charge their vehicles at home, eliminating the need for frequent visits to public charging stations. Home listings with integrated electric car charging tap into the desires of environmentally conscious buyers who seek the perfect fusion of luxury, convenience, and sustainability.

6. Expansive lots

In the rapidly growing luxury market of Sarasota County, the demand for large lots has increased exponentially among buyers. As the region experiences unprecedented growth, the scarcity of expansive land parcels adds an exclusive appeal to luxury properties. The allure of a large lot lies in the abundance of space it offers, allowing homeowners to create their own private oasis and tailor their surroundings to their unique desires, whether it’s sprawling gardens, expansive outdoor entertaining areas, or the ample privacy.

Top neighborhoods with luxury home features in Sarasota

The prestigious neighborhood of Bird Key attracts discerning homeowners seeking the pinnacle of luxury lifestyle. From meticulously crafted architectural designs to exquisite interior finishes, Bird Key homes boast a blend of timeless charm and contemporary allure that homebuyers are willing to pay premium prices for. The prime waterfront location – with breathtaking views of the Sarasota Bay, Gulf of Mexico, and picturesque canals – is also a major draw. 

The demand for homes in Bird Key remains high due to the limited inventory and the exclusivity associated with the neighborhood. The scarcity of available properties, combined with the exceptional amenities and lifestyle offerings, contributes to the higher price tags seen in this coveted neighborhood.

In fact, the average median sale price for homes in Bird Key was $1,850,000 in May 2023.

This figure significantly exceeds both the national median sale price and the city of Sarasota’s median sale price by over $1.3 million, highlighting the desirability of these upscale communities.

A final note on luxury home features in Sarasota

From beachfront living and private boat access to a backyard oasis and water view, these luxury home features enhance the lifestyle and elevate the experience of homeownership. As the luxury market continues to flourish, potential buyers are presented with a wealth of options. 

If you’re buying a luxury home in Sarasota, your Redfin Premier Agent is equipped to offer valuable insights into the local market, including insight into the neighborhoods, highly sought-after amenities, pricing trends, and available luxury properties.

Source: redfin.com

Apache is functioning normally

While there are a lot of new faces and startups in the mortgage industry, few companies have stood the test of time, especially with the Great Recession rearing its ugly head in the early 2000s.

But one mortgage company, Houston, Texas-based Cornerstone Home Lending, has been serving its communities since 1988.

The direct-to-consumer retail lender has more than 30 years of experience doling out home loans to satisfied customers, but also takes the time to embrace new technologies as evidenced by their smartphone app.

Cornerstone Home Lending Fast Facts

  • Retail mortgage lender based in Houston, Texas
  • Founded in the late 1980s by Marc N. Laird and Judy Belanger
  • Licensed in 41 states with 200 offices in 22 states
  • Over 500 loan officers and 1,500 team members
  • Funded roughly $6 billion in home loans during 2019

As noted, Cornerstone Home Lending, or CHL for short, has been around a while, much longer than the average mortgage company these days.

They claim to rank #30 nationally in annual home loan volume, and 10th nationally among independent mortgage companies.

In their latest full year, they closed about $6 billion in homes, with a home purchase loan share of roughly 72%.

The rest were home refinance loans, with about 10% of that share containing cash out to the borrower.

A good chunk of their total production consisted of conventional home loans (60%), with another 15% FHA loans, 13% jumbo loans, and 11% VA.

Most of the loans closed last year were 30-year fixed mortgages, though they also originated 15-year fixed mortgages and 7/1 ARMs as well.

Some 30% of total lending volume took place in their home state of Texas, which comes as no surprise.

They currently lend in 41 states and DC, but aren’t available in Connecticut, Georgia, Hawaii, Illinois, Massachusetts, New Jersey, New York, Rhode Island, and Vermont.

Applying for a Mortgage with Cornerstone Home Lending

  • You have the option of getting pre-qualified via their website or smartphone app
  • Visiting a branch office if one is located near you
  • Or calling them directly to go over a loan scenario and get pricing

To get the ball rolling, you can either visit their website and navigate to the “prequalify” page, or download their smartphone app called LoanFly and then click on “prequalify.”

Both methods require you to fill out a short form with just your contact information, at which point you’ll be contacted by a loan officer.

They say you can get pre-qualified for a mortgage in as little as 15 minutes during normal business hours.

From the LoanFly app, you can also request a mortgage rate or a callback from a loan officer.

Alternatively, you can call Cornerstone Home Lending directly to get pre-qualified or to discuss a loan scenario. Or visit a local branch office if one is located near you.

Branches appear to be located in the following states: AK, AR, AZ, CA, CO, FL, MD, MO, MS, MT, NC, NM, NV, OK, OR, TX, UT, VA, WA, WI, WY

It’s unclear if you can actually apply for a mortgage on your own, which is often an option with the most tech-savvy mortgage lenders these days.

Once in contact with a loan officer, they can walk you through the loan process and answer any additional questions you may have.

After your loan has been submitted, you can use the borrower portal to check loan status, upload documents, and satisfy conditions, via the app or the website.

Cornerstone Home Lending Loan Options

  • Home purchase loans and refinance loans (including cash-out refinances)
  • Conventional loans backed by Fannie Mae and Freddie Mac
  • Government loans backed by the FHA, USDA, and VA
  • Jumbo home loans
  • Fixed-rate and adjustable-rate options available

Cornerstone is currently approved and in good standing with Fannie Mae and Freddie Mac, along with the FHA, VA, and USDA.

They offer both home purchase loans and refinance loans, but it’s unclear if they offer second mortgages or home renovation products.

The details on their website are a bit scant when it comes to loan options, though they do mention the loan types above, along with jumbo loans.

Additionally, you can get a fixed-rate mortgage or an adjustable-rate mortgage, with varieties like a 30-year fixed or 15-year fixed, and a 5/1 ARM or 7/1 ARM.

So all the usual stuff but nothing too fancy by the looks of it. They say their loan officers have access to hundreds of loan products, which means there’s probably more than what’s listed on their website.

Cornerstone Home Lending Mortgage Rates

Cornerstone doesn’t advertise its mortgage rates online so we don’t know where they stand pricing-wise.

The only thing they say is that they offer “ultra-competitive rates,” which begs the question, why not share them?

Additionally, there’s no information regarding lender fees, so we don’t know if they charge a loan origination fee, underwriting fee, and so on.

If and when getting a quote from Cornerstone Home Lending, be sure to compare it to other lenders to see how competitive they are.

There are literally thousands of mortgage lenders out there to choose from, so put in the time if you want a great rate with low closing costs.

Cornerstone Home Lending Reviews

First off, they’ve got incredible reviews on Zillow, with a 4.96-star rating out of 5 based on feedback from nearly 2,500 past customers.

What’s nice about the Zillow reviews is you can see who the customer worked with, click on that individual’s name, and get all their reviews as well.

This is helpful with large mortgage companies that have tons of employees since experiences can vary greatly from one loan officer to the next.

Many of the Zillow reviews indicated a lower mortgage rate than expected, while many said the closing costs were as expected.

On BirdEye, they’ve got a 4.9-star rating based on about 800 reviews, so they seem to be consistently highly-rated.

They also list a bunch of customer reviews right on their website, which seem to the most recent ones available.

Cornerstone Home Lending is BBB accredited since 1997 and currently has an A+ BBB rating. Their customer reviews on the BBB aren’t great, which is the norm for BBB customer reviews.

Cornerstone Home Lending Pros and Cons

The Good

  • Excellent reviews from thousands of past customers
  • A free smartphone app and online borrower portal
  • Physical branches in many states where they operate
  • In-house processing, underwriting, and funding
  • Average industry tenure of its employees is 10+ years

The Possible Not-so-Good

  • Not licensed in all states
  • Unclear if you apply for a mortgage all on your own
  • Don’t list specific loan programs that are available
  • Do not advertise their mortgage rates or lender fees

(photo: Zeev Barkan)

Source: thetruthaboutmortgage.com