Express Mortgage lenders and Mortgage services
Express mortgages are home equity loans usually with a fixed rate. Express mortgage services are provided by a number of lenders, many of whom may run similar packages with slight differences. Speed can be a crucial factor in home financing. This is because about four people may be interested in the same property which would eventually belong to only one of them. Hence, the need for Express Mortgages.
- Rockland Trust Bank
This is an institution with an Express Mortgage service. Rockland’s biggest pros include competitive interest rates, a Fixed-rate conversion option, and a seamless online application process. Rockland Trust’s fixed-rate home equity loans start as low as 3.99 percent APR, while its variable-rate HELOCs start as low as 2.99 percent APR while their fixed-rate Express Mortgage loans start as low as 3.49 percent APR.
Their Express Mortgage provides fixed monthly payments based on the amount borrowed and the interest rate for the life of the loan. Borrowers may choose a term up to 20 years within which to pay. The Express Mortgage also features a quick and easy application that can be made in as little time as 15 minutes with no closing costs.
- Ark Mortgage
Ark Mortgages have streamlined processes that ensure that loans are closed in the shortest time possible. Qualified loans are approved in only 21 days upon the submission of all required documentation and the completion of the mortgage application.
For an individual to be eligible to apply for an Ark Express Mortgage, he must:
- Specifically request an Express Mortgage when making the loan application.
- Ensure all of his income for the past 2 years is reportable on a W-2 Form
The borrower will also disclose specific needs and goals. This enables Ark Mortgage to be able to make a decision that favors both parties. There is no perfect type when it comes to mortgage, thus every loan will be decided on a number of factors including monthly payment on the loan, amount of downpayment, and so on.
- Meridian Trust Federal Credit Union
This is also a lending institution with Express Mortgage services. It is ideal for homeowners who are close to retirement, and for those who want to pay off their mortgage faster than with a traditional mortgage. You can take a loan with as low a fixed rate as 3.50% and an origination fee of only $399. However, they are only for refinancing existing mortgages and have a maximum of 12 years’ term.