Features of Loans Offered By Prodigy Lending In Burleson, Texas
The Prodigy Lending Team is one of the key mortgage lenders in Burleson. Aided by their team of expert mortgage professionals are committed to providing the highest quality service to suit their client’s mortgage needs. They offer multiple loan programs combined with very low-interest rates in order to deliver their client’s exact expectations. Whether a client is looking for their dream, their first home, a home loan refinancing or a debt consolidating loan, Prodigy Lending works one-on-one to ensure that they deliver a home to their clients that is tailor-made specifically to their needs. They offer a variety of mortgage loans ranging from government-backed loans to private loans. For the clients in Burleson. They include Conventional loans, FHA loans, VA loans, and USDA loans. Prodigy Lending offers each of these loans with special unique features which include:
- Low down payment – Prodigy lending offers their loans at low down payments ranging from 0%-3.5%, this means that they offer as high as 96.5%to 100% financing. This is a very low down payment requirement compared to the other mortgage lenders who usually require a down payment of as high as 20%. This makes Prodigy Lending loans suitable even for those who’ve not saved up high amounts of money for the down payment.
- Reduced PMI – With a 3% down payment, it is common for conventional loan lenders to require private mortgage insurance for the property because they bear such a great risk. Prodigy lending is no different. However, they require a relatively low PMI compared to that required for FHA loans. While FHA loans require a PMI of about 1.75% of the total mortgage amount, conventional loans require a less than 1% of the total mortgage amount PMI payment. USDA loans and VA loans both require no down payment at all. This enables borrowers to save up on extra expenses.
- Flexible terms of payment – Prodigy lending offers their loans with very flexible terms depending on the amount of interest charged for the loan. The terms range from 10, 15, 20 to 30 years. The higher the interest paid the shorter the term of payment and vice versa.
- No Lender fees –Unlike other mortgage lenders, prodigy lenders do not charge their clients any extra fees in the form of lender fees. The client only needs to carter for their down payment, interest charges and closing costs. This helps them save the extra money they would have used as lender fees and use it on other things.
Other than these features, Prodigy Lending also hires mortgage brokers to represent client’s needs to their experts. They understand that clients often know very little about mortgage loans and their various requirements and therefore require expert advice to help make the appropriate decision according to their various situations. Because they hire the mortgage brokers themselves, the client does not have to incur extra expenses paying for the mortgage broker’s services. These are some of the features of the loans offered by the Prodigy Lending Team in Burleson.
Contact us today for more loan information!