How Guardian Mortgage Company Can Help You in Taking a Loan

Key Takeaways:

– Guardian Mortgage offers a wide variety of loan products to fit your needs

– The application process is simple and straightforward

– Guardian Mortgage may be a good option for you if you are looking for a reliable and reputable company to help with your loan needs.

Let’s say you’ve been looking for a mortgage that will give you the best deal. You hear about Guardian Mortgage Company and decide to do some research to see if they might be a good option for you. So, what exactly it is, and what it can offer?

Through this article, you will learn everything you need to know about the company. This includes the products they offer and the process of applying.

Guardian Mortgage Company About and Why Choose Them

From 1965 until now, Guardian Mortgage Company has remained dedicated to excellent customer service and maintaining relationships of mutual trust with its clients. They have helped over one million people nationwide realize the dream of homeownership while keeping the integrity they established when they first set out. Today, referrals, positive word-of-mouth reviews, and return customers form the basis for their continuing success—often spanning multiple generations of families.

Moreover, at Guardian Mortgage, they believe that everyone deserves the opportunity to achieve their financial dreams. They offer a full range of products and services to help our customers make those dreams a reality. Whether you know them as Sunflower Bank, First National 1870, or Guardian Mortgage, they’re committed to providing honest advice and outstanding service.

They aim to be more than just a lender as they want to be your partner in achieving financial success. Then, if you are thinking of buying a new home, come to Guardian. They pride themselves on our common sense, exceptional intelligence, and outstanding service.

So, why you should choose them? Here are some of the reasons:

• Good Services: They always puts the customer first and do what it takes to help them.
• Quality Products: Their products surpass the confinements other companies offer.
• Experienced company: Not only have they been around for over 50 years, but they’ve also weathered many difficult times in the ever-changing real estate market.
• Flexibility and understanding: They not only have the experience to assist customers in finding solutions, but they also offer a lending service that others can’t match.

Guardian Mortgage Company Home Loan Products

A home loan is a loan that is given to a person in order to buy a property. This could be a house, an apartment, or any other type of real estate. The loan is given with the expectation that the borrower will make monthly payments, with interest, until the loan is paid off.

Additionally, a home loan is important because they allow people to buy property who would not otherwise be able to do so. This could be because they do not have enough money saved up, or because they do not have a good enough credit score to qualify for a traditional mortgage. Also, you can use it to refinance an existing mortgage or to take out equity from a property.

If you are planning to apply for a home loan, Guardian Mortgage Company offers the following home loans for their clients.

Government Loans

The federal government offers insurance on loans as a way to help those who wouldn’t otherwise be able to get a loan so that they too can experience the benefits of owning a home. The government offers various mortgage programs with distinct qualification requirements:

FHA Loans

FHA loans offer the opportunity for a lower down payment and more flexible income and credit requirements. The other benefits are as follows:

• The credit score requirement is only 620 and a 3.5% down payment.
• More lenient income qualification standards.
• Can cover the entire amount needed for a down payment and closing costs.
• Can rent out extra units, if you reside in one.
• Offer terms of 30 and 15 years for a fixed loan.
• Only one- to four-unit homes are eligible.

VA Loans

For those who have served or are serving in the military, as well as surviving spouses, the Department of Veterans Affairs offers a $0-down mortgage option. Now eligible borrowers can use a VA loan to not only purchase primary residences but also refinance existing mortgages. But there are also other benefits:

• You don’t need to put any money down.
• Mortgage rates are very low.
• 0 costs monthly mortgage payments.
• Credit score allowance is more lenient
• Can rent out many units, if you live in one.
• You are allowed to have one- to four-unit dwellings.
• Offers adjustable-rate mortgages.

USDA Loans

USDA loans are mortgages that have low-interest rates, zero down payments, and flexible income and credit score requirements. If you don’t think you would qualify for a traditional mortgage, then a USDA loan might be attractive to you.

Here are more of its advantages:

• 640 credit score only.
• Make your purchase with no down payment.
• You are not restricted to how much you can borrow.
• Low monthly mortgage insurance premiums.

Conventional Loans

There are many benefits to taking out a conventional loan, such as the rates, down payment options, and flexible terms. To qualify for this type of loan however you generally need a credit score that is good to strong. There are two common types of loans:

• Conforming Loans: Fannie Mae and Freddie Mac set the maximum amount for these types of loans.
• Non-conforming Loans: Loans that don’t qualify for Fannie Mae or Freddie Mac.

There are three main reasons why a loan might not conform:

• It is “Jumbo” sized.
• You can either get a fixed-rate or an adjustable-rate loan.
• Down payments can be 5% or 10%.

Jumbo Loans

Jumbo loans are home mortgages that go beyond the FHFA’s conforming loan limit for a particular area. If you’re thinking of a large purchase or financing (over $500,000), this type of loan will have stricter qualifications.

If a loan reaches a particular level, it becomes unsecured by Fannie Mae or Freddie Mac. Lenders take on new risks when this occurs and may require applicants to have large down payments and credit scores as high as 700 or 720 to qualify for the loan.

Some other things a lender will take into consideration when considering a borrower for a jumbo loan purchase are:

• Proof that you have enough money to cover your expenses and debts.
• Debt-to-income ratio
• Higher interest rates and closing costs

Construction Loans

If you’re starting fresh or renovating your home, you might think about a construction loan as opposed to conventional financing. With a construction loan, the lender pays out portions of the total amount to the builder or contractor at various stages throughout the project (as opposed to just handing over all the money upfront). This makes lenders feel more secure with lending money for projects, ensuring both that financing and construction are proceeding smoothly.

After you finish paying off your loan, it can be turned into a mortgage of your choosing. If you’re not sure what kind of construction loan is right for you, don’t worry. Since a mortgage professional will guide you through the process and help figure out what product works best for you.

Guardian Mortgage Company Application Process

Now that you know a little more about Guardian Mortgage Company and the products they offer, let’s dive into their application process.

The first thing you’ll need to do is gather some documents. The list below is not exhaustive, but it will give you an idea of what you’ll need:

• Proof of employment or income (W-2 forms, pay stubs, tax returns)
• Asset statements (savings, checking, investments)
• Debt statements (credit card, student loans, car payments)
• Driver’s license or government-issued ID

Then, once you have all of your documents in order, you’re ready to begin the application process. Just follow these simple steps to apply:

1. To start, just fill out the online application form. They will ask you to provide personal information, such as your name, address, and Social Security number. You’ll also need to answer some questions about your employment history, income, and debts.
2. After you submit your application, a mortgage professional will review it and contact you to discuss the next steps. If you’re approved, you’ll need to complete some additional paperwork and provide more documentation.
3. Finally, after finishing that, you’ll be on your way to closing on your loan.

Final Thoughts on Guardian Mortgage Company

Now that you know a little more about Guardian Mortgage Company and the products and services they offer, you can decide if they’re the right choice for you.

If you’re in the market for a home loan, be sure to compare offers from multiple lenders to get the best deal possible. And remember, working with a mortgage professional can make the process a whole lot easier.

Frequently Asked Questions

1. What is the minimum credit score needed to qualify for a loan?

The minimum credit score needed will depend on the type of loan you’re applying for. For conventional loans, you’ll need a score of 620 or higher. For jumbo loans, you’ll need a score of 700 or higher.

2. How much money do I need to put down as a down payment?

With a conventional loan, you can put down as little as 5%. For jumbo loans, you’ll need a minimum of 10%.

3. How to determine the interest rate on a loan?

The interest rate will depend on a number of factors, including your credit score, employment history, and debt-to-income ratio.

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