Towne Mortgage Bank Loan Products and Detail Information

Posted on

Towne Mortgage Bank is a helpful company when it comes to mortgage loan. It offers the best loan products along with professional customer service.

Towne Mortgage Bank is a subsidiary company of Towne Bank. It is the part of the company that deals with funding people to buy homes. The company is based in Charlotte, New Carolina, and today it is one of the best companies to go when it comes to mortgage. Here is more information about the company.

Towne Mortgage Bank Loan Products and Detail Information

The Best Loan Products from Towne Mortgage Bank

Well, the most important things people should know about Towne Mortgage Bank is its loan programs. There are numerous of them and here are some of the best ones to learn about.

1. Conventional Loan

The conventional loan from Towne is also known as the fixed rate loan. It is a very safe type of loan that everyone should know about. The Towne Company finances up to 97% of the loan. It has fixed or in other word stable rate. The principle payment every month will not change as well until the day the borrowers pay off the loan. The loan is perfect for first-time home buyers because the terms are easy to understand and the interest rate is basically locked for goods. The length of the loan is available in 15 years or 30 years options.

2. FHA Loan

The FHA loan or Federal Housing Authority loan is the kind of loan backed by the government. Towne, of course, makes it clear that they provide FHA loan with the best interest and the easiest process. Those who are interested in getting the loan can pay a very low down payment (usually less than 4%). They can also use the loan to renovate a house as well. The best thing about FHA loan is the fact that it is not for those who have perfect credit score. Even people with not-so-good credit score can apply for the loan and get qualified.

3. VA Loan

VA loan is a Veterans Affair loan dedicated to all the military officers. They are who are in active duty, reservist, or veterans can take this loan and get a new house. VA is the loan fully backed and guaranteed by the government. They will be 100% financed by the company and get the easy way to purchase the house. The loan requires low to no down payment at all. It also makes sure that military officers can get the best service throughout the loan process.

4. USDA Loan

The USDA loan from Towne Mortgage Bank is the perfect loan to give to people who are looking for a property in suburban areas. When people want to live quietly, they tend to choose buying house in rural area. USDA loan from the company provides 100% financing with no down payment option. The loan has flexible guidelines too to ease the buyers to get the loan and eventually purchase the property in the suburban.

5. Jumbo Loan

One of the most popular Towne Mortgage Bank loan products is the jumbo loan. The loan is dedicated for those who want to purchase a house in expensive neighborhood or buying a grand house, such as mansion and recreational villa. The amount of money given in jumbo loan is over $484,350. The process to apply for this type of loan is not complicated. It requires only brief background check and several financial assessments as well.

6. Reverse Loan

Reverse loan is basically the opposite of getting money to get a house. In this loan product, people are getting money from the house. The loan is eligible for people above the age of 62. The money they get from putting their house can be used for many things, including paying for their retirement years and for their medical benefits. The reverse loan from Towne Company will not affect the Medicare benefits or the social security benefits received by the homeowner.

Why Using the Service of Towne Mortgage Bank

Besides of the wide variation of loan products, Towne Mortgage Bank still has numerous other things that make people keep coming back to use their service. Here are some of them.

1. Mortgage App Available

There are a lot of advanced technologies that can be used to ease people’s lives these days. One of them is surely the internet along with mobile apps. Towne Mortgage Bank seems to understand perfectly about that. They do have the thought of making their borrowers and clients’ lives easier by creating a very useful mortgage app. The app is available for all types of devices, including Android devices and iOS. Inside the app, everything you need to have to apply for loan or to get information about the company is available.

2. You Can Apply Online

One of the best features offered by Towne Mortgage Bank is online application. It makes people keep using the service of the company. They do not have to encounter complicated procedures in applying for mortgage loan. Essentially, they will have the opportunity to apply for the loan online. All they need to do is filling up some forms and sending it right to the company via its website. It is quick, effective, and does not require complicated procedures as well.

3. Helpful Website and Customer Service

Borrowers do not want to endure complicated process for the loan. They really depend on the availability of website and customer service of a mortgage company. Fortunately, the company of Towne understands that need perfectly. That is why they provide the best website and the best customer service for their clients and borrowers as well.

The Towne Mortgage Bank official website is highly accessible and it has everything people need, including mortgage calculator and long list of FAQ. The customer service is also ready for 24/7. They are very helpful in solving any of the borrowers’ problems and difficulties related to the loan.

Now, you know better about the mortgage company. You can start considering using the service if you have a plan of buying a house anytime soon. The Towne Mortgage Bank is indeed one of the finest companies for mortgage. It gives you more flexibility to choose what kind of funding for your new property.