Right now we’ll try “Prime Flite Monetary,” a mortgage lender that consistently lands in LendingTree’s top-10 rankings for buyer satisfaction.
In truth, they’ve earned that distinction in every of the previous 4 quarters and past, a robust testomony to their distinctive (and constant) customer support.
The corporate started as a small mother and pop store working out of an 80-square foot dwelling workplace, and is now a multi-million-dollar company with 60+ retail areas.
They contemplate themselves money out refinance specialists, serving to owners faucet into their fairness to repay dearer debt or cowl different bills.
And so they’ve received options for these with lower than excellent credit score who want to enhance their monetary outlook. Learn on to study extra.
Prime Flite Monetary Quick Details
- Household-owned and operated direct-to-consumer mortgage lender
- Presents dwelling buy loans, refis, dwelling fairness loans, and extra
- Based in 2002, headquartered in Richmond Heights, MO
- Licensed to do enterprise in 17 states nationwide
- Funded about $1 billion in dwelling loans final 12 months
- Most lively in Arizona, California, and Washington
- Additionally operates a wholesale lending division for mortgage brokers
Prime Flite Monetary Inc. started as a household store, launched by Timothy and Tracie Baise in December 2002.
Their dwelling workplace in rural Michigan finally remodeled into a big company workplace in Richmond Heights, Missouri, a suburb of St. Louis.
Right now, the corporate funds practically $1 billion in dwelling loans yearly throughout the complete United States.
For the time being, they’re licensed in 17 states, together with Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Massachusetts, Missouri, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, and Washington.
They’re most lively within the states of Arizona, California, and Washington, and roughly two-thirds of their loans are mortgage refinances.
The corporate additionally operates a wholesale lending division for mortgage dealer companions.
Tips on how to Apply for a Mortgage with Prime Flite Monetary
To get began, you may name them straight or go to their web site to study extra concerning the firm.
Should you log on, you may fill out a brief kind to get a free quote. A Prime Flite Monetary mortgage officer will then attain out to debate mortgage choices, eligibility, and pricing.
Assuming you’re proud of what you hear, you may fill out their digital mortgage utility and add supporting documentation, equivalent to financial institution statements and tax returns.
Their tech platform is powered by SimpleNexus, a pacesetter within the digital mortgage area.
You might have the choice to obtain their “Gap N1 Mortgage” smartphone app or full your utility from their safe on-line portal.
The app shows a guidelines of things that have to be uploaded, which could be despatched securely by way of your telephone.
You’ll obtain updates as you go, and might message your mortgage officer immediately if and when you might have questions.
These out there to buy a house can get pre-qualified for a mortgage in as little as 24 hours.
Mortgage Packages Supplied by Prime Flite Monetary
- Residence buy loans
- Refinance loans: charge and time period, money out, streamline
- Conforming loans backed by Fannie/Freddie
- FHA loans
- VA loans
- USDA loans
- Jumbo and tremendous jumbo loans as much as $3.5 million
- Self-employed financial institution assertion applications
- Non-QM loans
- Manufactured and modular dwelling loans
- Residence fairness traces of credit score (HELOCs)
- Reverse mortgages
Should you’re in search of entry to a wide array of mortgage applications, you’ll like what Prime Flite Monetary has to supply.
They’ve received just about each dwelling mortgage program below the solar, from government-backed mortgages (FHA/VA/USDA) to tremendous jumbo loans and financial institution assertion applications.
You can too get a combo mortgage with a house fairness line of credit score (HELOC) in place as a second mortgage to increase your financing.
Seniors on a hard and fast revenue can reap the benefits of a reverse mortgage as a substitute for a standard dwelling mortgage, which carries no month-to-month funds.
And people with less-than-perfect credit score can get accredited as properly, even when they want a money out refinance.
What units them aside from different lenders is their “Step Ahead Program,” which permits debtors to get FHA and VA loans with credit score scores as little as 500.
These debtors can pull money out or consolidate their debt to enhance their monetary place.
After 6-8 on-time funds, a mortgage officer will decide if higher mortgage choices can be found.
Usually, credit score scores enhance after the preliminary refinance, which can enable for higher phrases.
If so, they’ll provide a “no lender payment” refinance to assist clients cut back their month-to-month mortgage funds going ahead.
Prime Flite Monetary lends on all main property sorts, together with manufactured and modular properties.
Mortgage phrases starting from 10 to 30 years can be found. It’s unclear if additionally they provide adjustable-rate mortgages.
Prime Flite Monetary Mortgage Charges
Prime Flite says they might not all the time have the bottom “marketed” mortgage charge, however that they satisfaction themselves on delivering the phrases marketed.
And that features all the time being clear with actual numbers so every buyer is aware of what they qualify for upfront.
That being mentioned, they may provide very aggressive mortgage charges relying on the mortgage state of affairs in query.
Moreover, they might have mortgage applications that the opposite guys don’t provide, which may very well be extra necessary than value.
Nonetheless, given their glorious buyer evaluations throughout a number of scores web sites, my guess is they’re priced pretty properly relative to different mortgage firms.
After all, you need to nonetheless put within the time to buy with different lenders and collect further quotes to make sure a greater deal isn’t missed.
With regard to lender charges, that’s additionally a query mark, although my guess is they’ll construction their loans as no price mortgages utilizing lender credit.
Prime Flite Monetary Critiques
On LendingTree, Prime Flite Monetary has a near-perfect 4.9-star ranking out of 5 from virtually 2,000 buyer evaluations. And 98% of those clients would suggest the corporate to others.
Moreover, they’ve been within the top-10 for buyer satisfaction within the dwelling lending class on LendingTree for the previous 4 quarters.
That achievement is predicated straight on buyer scores and evaluations, which keep in mind rates of interest, charges and shutting prices, and general expertise.
Over at Google, they’ve received an ideal 5.0-rating from greater than 600 buyer evaluations. And on Fb, a 4.9 ranking from over 300 evaluations.
The corporate additionally has a 4.42/5 ranking on the Higher Enterprise Bureau web site from about 50 evaluations, which is an efficient rating for a extra complaint-driven web site.
Lastly, they’re a BBB accredited firm and have been since 2004. They at present maintain an ‘A+’ ranking primarily based on criticism historical past.
To sum issues up, Prime Flite Monetary’s huge number of mortgage choices units them aside. Particularly those geared towards debtors with low credit score scores.
Should you don’t have nice credit score, however nonetheless need money out or a decrease charge, they may very well be an excellent possibility.
They may even be a good selection for somebody with glorious credit score, as their buyer evaluations are stellar.
Prime Flite Monetary Execs and Cons
The Good Stuff
- Can apply for a house mortgage on-line or by way of smartphone
- They provide a digital, largely paperless mortgage course of
- Wonderful buyer evaluations throughout all main scores web sites
- A top-10 LendingTree companion primarily based on buyer satisfaction
- A lot of mortgage applications to select from together with low FICO rating choices
- Free smartphone app to assist submit and handle your mortgage
The Possibly Not
- Aren’t licensed in all states
- Don’t record mortgage charges and lender charges on-line
