An in-depth analysis of the lender Fbt Mortgage LLC
Is Fbt Mortgage LLC legit? Throughout this Fbt Mortgage LLC review, we will provide an answer to that question.
If your credit history is preventing you from getting a loan elsewhere, First Bank and Trust Mortgage may be able to help. Even if a customer’s credit score is below 620, they may still qualify for a loan in FBT Mortgage LLC.
If you read our assessment of Fbt Mortgage LLC, you will have all the information you need to decide whether or not to do business with the organization.
|Loan Amount||It depends on the loan type and state|
|Loan Terms(Years)||3 to 30 years|
|Credit Score Range||580 and above|
|No Origination Fee||It depends on the loan type|
|Mortgage Programs||Conventional financing, FHA, VA, USDA loans, Jumbo loans, Construction loans, etc.|
|Employment Statuses Considered||Yes|
|Intended Use||Home purchase, refinance, construction, etc.|
|Joint Loan Applications Accepted||N/A|
|Property Type||Single-family home, condo, multi-family home, manufactured home, etc.|
|Verification Documents Required||Personal tax return, pay stubs, bank statements, or asset account statements|
How Much Money Can You Borrow from Fbt Mortgage LLC?
You must fulfill a number of criteria in order to get the maximum loan amount from Fbt Mortgage LLC. Criteria like your current financial situation and the type of loan you’re looking for are two examples.
To give just one illustration, the most money that can be obtained through a conventional loan from Fbt Mortgage LLC is $1,054,500, and this applies to a property that contains four separate units. You must get in touch with Fbt Mortgage LLC immediately to learn how much of a loan you might be eligible for.
Fbt Mortgage LLC Pros & Cons
- The loan plans offered by Fbt Mortgage LLC are flexible enough to accommodate a variety of homeowners’ demands.
- The website of Fbt Mortgage LLC features a mortgage payment estimator.
- There are a total of ten Fbt Mortgage LLC locations throughout the three different states it operates in.
- Fbt Mortgage LLC closing costs and fees are not disclosed on their website.
- To find out more about the services they provide, you’ll need to consult with a loan officer.
- Unfortunately, it’s only available in three US states for now.
What is the Longest Loan Term You May Obtain from Fbt Mortgage LLC?
Fbt Mortgage LLC offers highly flexible financing packages. A loan with a fixed interest rate or a loan with a variable interest rate are both options.
The duration of a mortgage with a fixed rate is predetermined and can range anywhere from ten to thirty years, whereas the duration of a mortgage with an adjustable rate can range anywhere from three to ten years. If you work with Fbt Mortgage LLC, you can acquire a loan with conditions that are suitable for your circumstances.
What Mortgage Rates Does Fbt Mortgage LLC Offer?
It is not possible to check the website for the current Fbt Mortgage LLC interest rates. Therefore, we are unable to state with absolute certainty whether or not their prices are reasonable.
Customers ought to exercise caution in the presence of a business that does not communicate openly with them. Before signing any papers with Fbt Mortgage LLC, make sure you fully understand the rates and closing costs associated with a mortgage loan. If you want the greatest deal possible, you should look into the rates and terms offered by other lenders.
What is the Estimated Funding Time?
It’s possible that loan funding processes will vary from state to state. It’s common for the date of closure to also be the date on which financing is finalized. There’s a chance this could arrive a day early. Closings for loans are sometimes completed on the same day the buyer signs the necessary documents.
If you want to know the actual funding time, you should speak with someone in the loan department at Fbt Mortgage LLC.
Do They Charge Mortgage Origination Fees?
No matter which mortgage lender you go with, you’ll have to pay an origination fee before the loan process can begin. This percentage of the loan amount might range from 1% to 5%. However, there are lenders who don’t charge these fees but it’s a rare case.
Meanwhile, Fbt Mortgage LLC is keeping this information to itself. If you have any inquiries or want to obtain this data, you can get in touch with them via phone or mail.
Does Fbt Mortgage LLC Charge Prepayment Fees?
Mortgage loans, like the great majority of other loans, are subject to prepayment penalties if the loan is paid back early. Nonetheless, the specifics of the loan will determine the amount and length of these expenses.
In contrast, there are no prepayment penalties associated with loans obtained through Fbt Mortgage LLC. This includes both early full payment and early half payment.
What Mortgage Programs Are Available?
When applying for a mortgage loan with Fbt Mortgage LLC, you may be given the following choices:
Conventional loans are not backed by the government and are therefore not insured. Conventional finance can be obtained from private lenders or the two government-sponsored mortgage organizations, Fannie Mae (FNMA) and Freddie Mac (FHLMC). These are some of the features:
- A larger loan sum is possible
- Allows for an LTV of up to 97% with PMI
- With a 20% down payment, you won’t have to pay PMI
- A lower credit score is OK
The government guarantees loans made by the Federal Housing Administration (FHA). Low down payments are possible with FHA loans. These are some of the features:
- Down payment as low as 3.5%
- Gift money can be used for the complete down payment
- Up to 6% of the sales price can be contributed by the seller
- Offers financing even to those with bad credit
A VA loan is a mortgage loan made by a private lender and guaranteed in part by the Veterans Affairs Department. The VA has specific conditions for military service that must be met in order to qualify. Borrowers who meet the requirements may be eligible for:
- Zero down payment
- No mortgage insurance
Borrowers can get a USDA Rural Development Loan to help them buy a home in a rural, suburban, or semirural region that meets certain criteria. Requirements for qualifying income are in place and may change from one location to another.
- There is no required down payment for approved applicants
- Offers financing even to those with bad credit
- Help with the initial stages of the mortgage payment can be accessible
A Jumbo loan is a loan that is larger than the conforming loan limit set by the Federal Housing Administration (FHA). They are similar to Conventional Loans in that they are not backed by the federal government or any of its agencies.
One Time Close (OTC) Construction loans
Applying for and getting approved for a mortgage is the first step in getting one of these loans. During construction, the borrower makes solely interest payments. Once construction is complete, mortgage payments can commence.
The qualified in-house construction lender at Fbt Mortgage LLC works closely with the borrower and the builder all the way through the construction process.
What Property Usage Types Do Fbt Mortgage LLC Allow?
Loans for the purchase of a property or the refinancing of an existing mortgage are available from Fbt Mortgage LLC. This house can serve as either the family’s permanent residence or a vacation hideaway.
Fbt Mortgage LLC offers to finance home improvement projects such as kitchen remodels, bathroom renovations, and pool installations. Fbt Mortgage LLC’s loans can be utilized to acquire any form of real estate, regardless of the reason you need it.
How Do People Rate the Customer Service and User Experience?
Fbt Mortgage LLC is a small mortgage lender serving customers in Louisiana, Mississippi, and Florida. They’ve been in operation for twenty-one years.
Currently, Fbt Mortgage LLC does not hold BBB certification. The certification seal from the Better Business Bureau is still seen as a symbol of trustworthiness by many customers. In addition, Fbt Mortgage LLC reviews vary widely. Because of this, it’s hard to draw firm judgments about the company from customer feedback alone.
If you’re having trouble deciding whether or not Fbt Mortgage LLC can be trusted, Fintopi can help.
Contacts of Fbt Mortgage LLC
If you have any additional inquiries regarding Fbt Mortgage LLC’s offerings, feel free to give them a call. The information you need to get in touch with them is conveniently listed on their website. Fbt Mortgage LLC phone number is 1-888-344-0422. You can also choose a loan officer from the list that is provided on their website if you want to apply for a loan instantly.
Availability of Fbt Mortgage LLC
Fbt Mortgage LLC is an authorized financial company that provides mortgage services in Louisiana, Mississippi, and Florida. Business hours for Fbt Mortgage LLC are typically Monday through Friday, 9:30 am to 5 pm. You can reach customer care at the listed number during regular business hours. The offices of Fbt Mortgage LLC are closed on the weekends.
Fbt Mortgage LLC Summary
This Fbt Mortgage LLC Review has come to the following conclusions:
- Fbt Mortgage LLC’s lending plans are flexible and may be adjusted to meet the needs of each individual borrower.
- The Better Business Bureau has not accredited Fbt Mortgage LLC.
- The interest rate and closing costs provided by Fbt Mortgage LLC are not open to the public at this time.
- Fbt Mortgage LLC’s loan programs do not charge any prepayment penalties.
If you don’t feel comfortable working with Fbt Mortgage LLC, please let us know and we’ll do everything we can to find you a lender who is a better fit.
FAQs About Loan Company
1. Who owns Fbt Mortgage LLC?
First Bank & Trust owns and operates FBT Mortgage (FBTM). FBTM provides both standard and innovative options to meet the diverse requirements of its clientele.
2. Where is Fbt Mortgage LLC’s headquarters?
The main office for Fbt Mortgage LLC is found at Washington Avenue, Ste. B, Ocean Springs, Mississippi.
3. Who are Fbt Mortgage LLC’s competitors?
Fbt Mortgage LLC competitors are BankPlus, Trustmark National Bank, BancorpSouth, Freedom Mortgage, North American Savings Bank,etc.