Comprehensive Review of Ivy Mortgage Inc: Options and Products
Are you in the market for a new house? But you also want to work with a good, and reliable lender? Then this Ivy Mortgage guide will help you learn all the valuable information about them before deciding if they are the lender for you. In this Ivy Mortgage review, we will also cover their fees, interest rates, loan options and more so you can understand them better. So, let’s begin!
Ivy Mortgage Inc is a mortgage lender that offers a variety of mortgage products, and services to its customers. The company has a wide range of products that cater to the needs of different types of borrowers. For instance, Ivy Mortgage Inc offers fixed-rate mortgages, adjustable-rate mortgages, conventional loans, VA loans, USDA loans and FHA loans.
Ivy Direct also provides its customers with a number of value-added services such as loan pre-approval, home equity lines of credit, and refinancing options. In addition, the company offers a wide range of resources on its website that can help borrowers better understand the mortgage process and make informed decisions about their options.
|Loan Amount||Up to $1,000,000|
|Loan Terms(Years)||15 and 30 years|
|Credit Score Range||700 and more|
|Mortgage Programs||Conventional, Cash-out refinance, fixed rate loans, adjustable rate loans, FHA, USDA, and VA loans|
|Employment Statuses Considered||N/A|
|Intended Use||Home purchase and refinancing|
|Joint Loan Applications Accepted||N/A|
|Property Type||Residential and investment|
|Verification Documents Required||Tax returns and pay stubs|
How much money can you borrow from Ivy Mortgage Inc
Ivy Lonas is a mortgage banker that offers a variety of mortgage products, including home equity loans and lines of credit, refinance loans and first-time home buyer loans.
Another important thing to remember when it comes to the borrowing amount is that there are many factors that come into play when a lender is deciding how much to approve you for. Those factors include your credit score, debt-to-income ratio, and other things. And with that said, the maximum allied borrowing amount with Ivy Mortgage is $1 million but make sure to speak with your loan officer to see how much you can actually borrow.
Ivy Mortgage Inc Pros & Cons
Ivy Mortgage Inc offers a wide range of mortgage products and services that can be tailored to meet the needs of nearly any borrower. However, as with any lender, there are both pros and cons to consider before taking out a loan with Ivy Mortgage Inc.
One of the major benefits that working with Ivy Mortgage Inc brings is that they are an NMLS-accredited company and they have been in business since 2010. On top of that, they also offer a wide array of loan options that can suit many different types of borrowers. They also have very good online ratings.
On the downside, some borrowers have complained that Ivy Mortgage Inc customer support can be a bit slow in replying. Additionally, the company is not BBB or HUD accredited and that can present a major problem in some cases. Also, their interest rates are not disclosed on their website.
- A wide array of loan options
- Good loan terms
- NMLS accredited company
- Not BBB accredited
- Not HUD accredited
- No interest rates disclosed
What is the longest loan term you may obtain from Ivy Mortgage Inc?
If you’re looking for a long-term mortgage loan, Ivy Mortgage Inc. may be a good option for you. The company offers loans with terms of up to 30 years. That’s one of the longest loan terms you can find from a mortgage lender.
With a long-term loan, you’ll have lower monthly payments than you would with a shorter-term loan. That can make it easier to afford your mortgage payment each month. And, if interest rates rise over time, you’ll be locked into a lower rate with a long-term loan.
What mortgage rates do Ivy Mortgage Inc offer?
In regards to the Ivy Mortgage Inc interest rates, they haven’t disclosed any on their website. This can present a problem for their potential clients simply because they will not know what to expect. Because of that, it’s best to search for a lender that is fully transparent with you.
Also, remember that the interest rate you will get depends on the loan amount you are borrowing and the credit score you have. So, it’s important to consult with your loan officer beforehand.
What is the estimated funding time?
Ivy Mortgage Inc claims that its loans are processed within the same day. The estimated funding time is 15 to 30 which is quite standard. This is based on the company’s current processing times and may vary depending on the type of loan and individual circumstances.
For example, FHA loans may take longer to process than conventional loans, so keep this in mind and ask about the wait time when applying for the loan.
Do they charge mortgage origination fees?
Ivy Mortgage Inc does not charge any mortgage origination fees. This is a huge benefit for potential borrowers, as origination fees can add up to a significant amount of money. For example, on a $500,000 loan, an origination fee of 1% would be $5,000. That’s a lot of money that you wouldn’t have to pay with Ivy Mortgage Inc.
Does Ivy Mortgage Inc charge prepayment fees?
Ivy Mortgage Inc does not charge prepayment fees for any of its mortgage products. This is a huge benefit for borrowers who may need or want to sell their home before the end of their loan term. With other lenders, borrowers are often charged a fee for prepaying their loan, which can add hundreds or even thousands of dollars to the cost of a loan if you decide to pay it off early.
What mortgage programs are available?
Ivy Mortgage Inc. offers a few different mortgage programs to meet the needs of a wide range of borrowers. These include:
- Conventional loans
- Cash-out refinance
- Fixed-rate and ARM loans
What property usage types does Ivy Mortgage Inc allow?
Ivy Mortgage Inc offers a variety of mortgage programs that cater to different types of homebuyers and homeowners. Some of their most popular programs include:
- Single family home
- 2-4 unit property
So, no matter if you are looking for a primary residence or investment property, Ivy Mortgage Inc may be a good option. However, keep in mind that they do not offer a second/vacation home as a property usage type.
How do people rate the customer service and user experience?
In regards to Ivy Mortgage Inc customer support and customer ratings, they hold a very good score. Yes, some people have complained that their customer support is a bit slow in giving a response back but overall, clients are happy with them saying they are friendly and nice.
Customer satisfaction with Ivy Mortgage Inc is very good as well since they hold an online rating of 4.2 out of 5 stars. Overall, that is a very good rating in comparison to other lenders of this type. And in case you want to find more reliable and good-rated lenders, feel free to reach us. We are more than happy to assist you in finding the lender that is most suitable for you and your needs.
Contacts of Ivy Mortgage Inc
In case you are interested in working with the Ivy Mortgage Inc mortgage banker, we will provide you with all the important information such as their phone number, office location, and email. You can also fill out their online application on their website and one of their loan officers will reach you in the shortest time.
Office location: 656 Quince Orchard Rd Suite 630 Gaithersburg, MD
Phone number: 301-279-0007
Toll-free number: 888-585-0707
Availability of Ivy Mortgage Inc
Ivy Mortgage is a Maryland-based mortgage banker that offers fixed-rate, adjustable rate, conventional, USDA, VA, and FHA loans. They are only operating in the state of Maryland, so if you are interested in working with them, make sure that you are based in the state of Maryland.
Ivy Mortgage Inc Summary
- Ivy Mortgage Inc. is based in Maryland and has been in business since 2010.
- They offer a good range of both government-backed and conventional loans as well as refinancing options.
- The company does not have a BBB or HUD accreditation for providing mortgage services. However they are registered in NMLS.
- As for the customer satisfaction and overall rating, they hold 4.2 out of 5 stars.
FAQs About Loan Company:
How to Contact Ivy Mortgage Inc?
You can contact them by email [email protected] and on this phone number 301-279-0007.
What Services Does Ivy Mortgage Inc Offer?
Ivy Mortgage Inc offers a variety of mortgage products to the clients across Maryland and some other states.
How Can I Obtain a Loan at Ivy Mortgage Inc?
You can apply for one of their loans either online or by going into one of their branches to do so.