Finance of America Mortgage is a full-service mortgage banker. Their loan products cover most types of mortgages, including VA, government-backed loans, and conventional mortgages. They also offer jumbo loans with low down payments and no mortgage insurance. The company has more than 270 branches nationwide, and more than 1,400 advisors with an average of 10 years of experience. This makes Finance of America Mortgage an excellent choice for home loan seekers.
Finance of America Mortgage has added HomeReady to its lineup of mortgage products. Through this program, it is enabling more people to become homeowners. Finance of America Mortgage is committed to helping consumers buy a home and empowering them throughout the loan process. You can visit their website to find a local branch or sign up for an online account.
The company’s second-quarter results were less than stellar, with a net loss of $168 million. Its traditional mortgage business was hurt by falling refinancing volume and higher spreads on agency and non-agency mortgage products. Overall mortgage originations decreased 39% year-over-year during the second quarter, and net rate-lock volume declined 64% from the prior quarter.
Finance of America also offers HECMs and jumbo loans. In addition to these, the company offers a reverse mortgage. Finance of America provides reverse mortgages through independent mortgage brokers. They offer a variety of mortgage products and can help you choose the best product to meet your needs. These mortgages can eliminate your monthly mortgage payments, while giving you access to more cash.