An in-depth analysis of the lender Glendenning Mortgage Corporation
If you are in the market for a new mortgage, choosing the right lender can be a daunting thing to do. With that in mind, we have made this Glendenning Mortgage Corporation review to help you.
This review will provide an in-depth evaluation of their services and offerings to help you decide whether they are the right lender for you. We will go over the pros and cons of working with Glendenning Mortgage Corporation, as well as dive into their background and company history.
On top of that, we will also discuss their loan options, rates, customer service, and more. By the end of this post, you should have all the information you need to make an informed decision about your new mortgage partner.
Glendenning Mortgage Corporation (GMC) is based in Toms River, New Jersey and they provide conventional loans, VA loans, FHA loans, and USDA loans. The company also offers loan and debt consolidation.
|Loan Amount||Up to $1,500,000|
|Loan Terms(Years)||10, 15, 20 and 30 year terms|
|Credit Score Range||N/A|
|No Origination Fee||Yes|
|Mortgage Programs||Conventional, FHA, VA, USDA|
|Employment Statuses Considered||Full time and part time employed|
|Intended Use||Home purchase, home improvements and refinancing|
|Joint Loan Applications Accepted||N/A|
|Verification Documents Required||Pay stubs and tax returns|
How Much Money Can You Borrow from Glendenning Mortgage Corporation?
When it comes to getting a loan, the allowed amount you can borrow is a crucial thing to know. Of course, this depends on many different factors such as your income, credit score, and other things.
With this said, the maximum allowed borrowing amount with Glendenning Mortgage Corporation is $1.5 million. Even though that is the maximum allowed amount, we do advise that you speak with your loan officer before signing the loan agreement.
Glendenning Mortgage Corporation Pros & Cons
There are many lenders out there and choosing the right one can be hard. Glendenning Mortgage Corporate might be a good solution for you but there are pros and cons you should consider and weigh out before making a decision.
One of their biggest benefits is that they have been in business for many years. They were established in 1989 and have been working ever since. On the downside, they are not a BBB or HUD-accredited company and this presents a major red flag.
Another issue they have is that their website lacks half of the information and their interest rates are nowhere to be found.
- Long years in business
- No prepayment fees
- Long loan terms
- Not BBB accredited
- Not HUD accredited
- No interest rates disclosed
- The website is missing a lot of information
What is the Longest Loan Term You May Obtain from Glendenning Mortgage Corporation?
Glendenning Mortgage Corporation offers mortgage terms of up to 30 years. This is a standard loan term for most mortgage companies. However, you can find even longer ones with some lenders in case that is something you need.
This long-term will ensure you get the lowest possible monthly payment but also that you will pay quite a lot in interest fees over time. We suggest you also look at other loan lengths this mortgage banker offers which are 10, 15, and 20 years and see if those suit you better.
What Mortgage Rates Do Glendenning Mortgage Corporation Offer?
When it comes to the Glendenning Mortgage Corporation rates, there is nothing disclosed on their website. As we have mentioned this is a major red flag and can present a lot of issues for future clients.
With this said, it’s best to always work with a business that will be open about their interest rates and also speak with your loan officer before putting your name on the dotted line.
What is the Estimated Funding Time?
The estimated funding time for Glendenning Mortgage Corporation is approximately two weeks. This timeframe may vary depending on the specific loan program and the individual borrower’s qualifications. For example, FHA loans typically take longer to fund than conventional loans.
Be sure to ask about this wait time before you submit your application just so you know how long it may take in your individual case.
Do They Charge Mortgage Origination Fees?
Glendenning Mortgage Corporation does charge mortgage origination fees to its clients. These are charges set by a lender for issuing a loan to a borrower and can be either a flat fee or a percentage of the loan amount.
We found that the company charges from $1,000 to about $5,000 for originating the loan although this amount can be even higher for some loan types. That’s why it’s always best to ask before submitting your application.
Does Glendenning Mortgage Corporation Charge Prepayment Fees?
Prepayment fees are charges assessed by a lender when a borrower pays off their loan before the end of the loan term. These fees are typically a percentage of the outstanding loan balance and can vary significantly from one lender to another. In general, prepayment fees are designed to offset the loss of interest income that the lender would otherwise receive if the loan were paid off early.
Glendenning Mortgage Corporation does not charge prepayment fees on any of its loans. This policy gives borrowers the flexibility to pay off their loans early without incurring any additional costs.
What Mortgage Programs Are Available?
When deciding on the specific lender it’s essential to be familiar with the different loan programs they offer. This is what Glendenning Mortgage Corp offers to its clients:
- Conventional mortgage
As you can see, this mortgage bank offers some government-backed loans as well as conventional mortgages. We would say this isn’t a huge variety when it comes to mortgage programs but it may still be suitable depending on your needs.
What Property Usage Types Does Glendenning Mortgage Corporation Allow?
Glendenning Mortgage Corporation offers a variety of property usage types for its mortgage products. These include:
- Primary residences
- Second homes
- Vacation homes
If you’re not sure which property usage type is right for you but still want to work with this company, Glendenning Mortgage Corporation’s team can help you.
How Do People Rate the Customer Service and User Experience?
It is difficult to find truly objective Glendenning Mortgage Corporation reviews because the company lacks a lot of information. However, we did our best to find customer feedback in order to get a sense of what people think about their experience with this company.
The general reviews seem to be that Glendenning Mortgage Corporation provides excellent customer service and has a great user experience.
There are, of course, some negative reviews out there. With most of them being that they are not satisfied with the loan terms and offers that Glendenning Mortgage Corporation provides.
Overall, customer satisfaction with Glendenning Mortgage Corporation is very average and the rating of 3.8 proves that. There is a lot of space for them to improve.
And in case you want to work with a lender that has better ratings and is a reputable one, feel free to reach out to us. We will do our best to find you a lender that is going to be the best fit for you and your needs.
Contacts of Glendenning Mortgage Corporation
Glendenning Mortgage Corporation is based in Toms River, New Jersey but they provide their service in other states as well. Down below we will provide you with the basic information such as their office address, phone number, and email.
81 East Water Street, 3rd Floor Toms River, New Jersey
Phone: (732) 240-7227
Fax: (732) 240-7230
Email: [email protected]
Availability of Glendenning Mortgage Corporation
Glendenning Mortgage Corporation office address is at 81 East Water Street, 3rd Floor Toms River, New Jersey but they also have offices in other states. Those states include the following:
- New Jersey
- New York
Glendenning Mortgage Corporation Summary
- Glendenning Mortgage Corporation is a mortgage banker that has been in business since 1989.
- They are based in Toms River, New Jersey but offer their services in Florida, Pennsylvania, and New York as well.
- The company does not have a BBB of HUD accreditation for providing mortgage services.
- They offer 4 different loan programs: FHA, VA, USDA, and conventional.
FAQs About Glendenning Mortgage Corporation
1. How to Contact Glendenning Mortgage Corporation?
You can contact Glendenning Mortgage Corporation by email or phone. Here are the details:
Phone number: (732) 240-7227
Email: [email protected]
2. What Services Does Glendenning Mortgage Corporation Offer?
The company offers a variety of mortgage programs for homebuyers or borrowers who are looking to make home improvements.
3. How Can I Obtain a Loan at Glendenning Mortgage Corporation?
You can obtain the loan from this lender by going into their office and filling out an application form there.