Liberty Mortgage Corporation Review: Scam or Legitimate Lender?

Are you looking for a trustworthy mortgage lender? With so many options out there, it can be overwhelming to find one that is reliable and fits your needs. That’s why we’re here to review Liberty Mortgage Corporation! 

In this Liberty Mortgage Corporation review, we’ll cover everything you need to know about this lender, from how much money you can borrow to their customer service ratings. So sit back, relax, and let us help you determine if Liberty Mortgage Corporation is the right choice for your home buying journey.

Firstly, Liberty Mortgage Corporation has been in business for over 30 years and they offer different loan and mortgage types.  They offer conventional loans, USDA loans, VA loans, FHA loans and fixed rate loans.

Furthermore, customers have reported positive experiences with Liberty Mortgage Corporation’s loan officers who are knowledgeable and helpful throughout the entire process.

Liberty Mortgage Corporation is based in Vestavia, Alabama and they started their business in 1985. On top of that, they hold both HUD and NMLS accreditation. 

How Much Money Can You Borrow from Liberty Mortgage Corporation

When it comes to taking out a mortgage, the amount of money you can borrow is a crucial factor. Liberty Mortgage Corporation offers various loan options for borrowers with different financial needs.

The maximum loan amount that you can borrow from Liberty Mortgage Corporation depends on several factors such as your credit score, income level, employment history, and debt-to-income ratio. However, the minimum loan amount available is $500,000.

It’s important to note that borrowing the maximum amount doesn’t necessarily mean it’s always the best option. Borrowers should carefully assess their financial situation before deciding how much money they need and what type of mortgage product would work best for them.

Liberty Mortgage Corporation Pros & Cons

Liberty Mortgage Corporation, like any other lender, has its pros and cons. Here are some of the things you should consider before applying for a mortgage with them.

One of the main benefits of Liberty Mortgage Corporation is that they offer a wide range of mortgage programs to choose from. Whether you’re looking for conventional loans or government-backed mortgages such as FHA, VA, or USDA loans, Liberty Mortgage Corporation has got you covered.

They are also accredited by HUD and NMLS and they have been in business since 1985. Their customer support team is also great and very helpful.

However, one downside of working with Liberty Mortgage Corporation is that they don’t hold a BBB accreditation which can impact their company credibility.

Additionally, they aren’t fully transparent with their clients when it comes to the interest rates. Nowhere on their website have they stated what interest rates they offer and what future clients can expect.

Pros:

• HUD accredited 
• NMLS accredited
• Long years in business 
• Good loan options 

Cons:

• Not BBB accredited 
• Have origination fees
• No interest rates disclosed 

What is the Longest Loan Term You May Obtain from Liberty Mortgage Corporation?

When it comes to taking out a mortgage, one of the most important factors to consider is the length of your loan term. This will determine how long you have to pay off your mortgage and how much interest you’ll end up paying in total. So, what’s the longest loan term you can obtain from Liberty Mortgage Corporation?

Liberty Mortgage Corporation offers two different loan terms for their mortgages, 15 and 30 year terms. The longer your loan term, the lower your monthly payments will be. However, keep in mind that a longer loan term also means paying more in interest over time.

Ultimately, choosing the right loan term depends on your individual financial situation and goals. It’s important to carefully weigh all options before making a decision on which length of mortgage is best for you with Liberty Mortgage Corporation.

What Mortgage Rates Do Liberty Mortgage Corporation Offer?

Liberty Mortgage Corporation rates, as we have mentioned, are nowhere to be seen. This means they are not fully transparent with their clients and you should look for a mortgage banker that will be fully transparent with you so you don’t have any surprises down the road.

What is the Estimated Funding Time?

This time frame refers to how long it takes for you to receive your loan after approval.

With Liberty Mortgage Corporation, their estimated funding time can vary depending on several factors such as the complexity of your application and the type of loan you are applying for. Generally, with a standard mortgage loan, it usually takes around 30-45 days for funding.

However, if you need faster funding times due to personal or financial reasons, Liberty Mortgage Corporation offers expedited services that can significantly reduce this timeline. They also have an efficient online platform where borrowers can submit their applications and track them in real-time.

It’s important to note that while fast funding times may seem appealing, they should not be prioritized over finding a reliable lender who has your best interests in mind. The process of obtaining a mortgage is complex and requires thorough evaluation before committing to any agreements with lenders.

Do They Charge Mortgage Origination Fees?

One fee that some lenders charge is a mortgage origination fee. This fee covers the costs of processing and underwriting your loan application.

So, does Liberty Mortgage Corporation charge a mortgage origination fee? The answer is yes. However, the amount of this fee will vary depending on factors such as your credit score and the type of loan you’re applying for.

Be sure to note that while an origination fee can add to the upfront costs of obtaining a mortgage, it may also result in lower interest rates over time. So, it’s worth weighing the pros and cons before deciding if this type of fee is right for you.

Does Liberty Mortgage Corporation Charge Prepayment Fees?

Many borrowers prefer to pay off their mortgages early in order to reduce the amount of interest they have to pay over time. However, some lenders may charge prepayment fees for doing so.

The good news is that Liberty Mortgage Corporation does not charge any prepayment penalties or fees. This means that you can pay off your mortgage as quickly as you want without worrying about being charged extra.

What Mortgage Programs Are Available?

Liberty Mortgage Corporation offers a variety of mortgage programs to cater to different financial situations and needs. Whether you are looking for a conventional loan or a government-backed loan, there is an option available for you.

Here is a list of mortgage programs they offer:

• Conventional 
• FHA 
• VA 
• USDA 
• Fixed-rate loan  
• Refinancing loan

What Property Usage Types Does Liberty Mortgage Corporation Allow?

Liberty Mortgage Corporation offers various property usage types for their mortgage programs. Here are the property types you can purchase if you decide to take out a loan from this lender:

• Single-family home
• Multi-family home
• Condo or townhouse
• Vacation home

So no matter the type of property usage you have in mind, whether it’s a primary residence or an investment property, Liberty Mortgage Corporation likely has a loan program that will meet your needs.

How Do People Rate the Customer Service and User Experience?

When considering working with a mortgage lender, it’s important to not only look at their rates and fees but also their customer service and user experience. So, how does Liberty Mortgage Corporation stack up in this department?

Many customers have reported positive experiences with Liberty Mortgage Corporation’s customer service team. They praise the company for being responsive and helpful throughout the application process.

In terms of customer satisfaction, Liberty Mortgage Corporation has a very good rating with an online rating of 4.0 out of 5 stars.

And in case you want to work with other reputable lenders, feel free to reach us, we are more than happy to assist you. We can help you get in touch with the best mortgage banker that will suit your needs.

Contacts of Liberty Mortgage Corporation

If you’re interested in Liberty Mortgage Corporation and want to get in touch with them, here are their contact details. 

Office address: 200 Williamsburg Office Park Vestavia, AL
Phone number: 205-823-2895
Fax: 205-823-2903

Availability of Liberty Mortgage Corporation

Liberty Mortgage Corporation has been in business since 1985 but they are based in the state of Alabama and they only operate there.

So, in case you are interested in working with them and you are based in Alabama, then they are a great choice for you. 

Liberty Mortgage Corporation Summary

• Liberty Mortgage Corporation is a trustworthy lender that offers a wide range of mortgage programs for various property usage types.
• Their customer service team is knowledgeable and responsive, ensuring that clients receive timely assistance whenever they have questions or concerns. 
• While they do charge origination fees, there are no prepayment penalties involved in paying off your loan early.
• The company has been in business for over 35 years and is based in West Avia, Alabama.

FAQs About Loan Company

1.How to Contact Liberty Mortgage Corporation?

You can contact Liberty Mortgage Corporation on their phone number 205-823-2895 or FAX number 205-823-2903.

2.What Services Does Liberty Mortgage Corporation Offer?

This mortgage lender offers a variety of loan programs for both purchasing a home or refinancing your current loan.

3.How Can I Obtain a Loan at Liberty Mortgage Corporation?

You can obtain a loan from Liberty Mortgage Corporation by filling out an application form online or in their office.