Ent Mortgage Facts
Ent Mortgage has been providing trusted service to their customers since 2005. They are one of the largest online mortgage facilities that is fully secured with the number of consumers they have handled. When it comes to loans, you need to do the needed research to ensure that you are getting the best deal.
Mortgage rates need to be the most important aspect when you decide on an apartment or house to buy. Employing the help of an expert will ensure that you get what you need in mortgage rates and get the best deal. Make sure that you view the details before you give the lender your business. The more you can know about the mortgage lenders, the more you can be prepared and protected when it comes to your loan.
Overview of Ent
Ent Mortgage Rates is an online lender with a streamlined application process but greater interest rates than some of its competitors. It is a direct lender that requires a minimum credit score of 660. It offers high savings and credit-builder loan options for the first-time home-buyer.
Customers can search for a loan and its associated interest rate based on their credit score in as little as five minutes. However, consumers with more than one pending mortgage application may experience an abnormally long wait time when trying to get approved.
Because of its streamlined process, Ent Mortgage does not collect any upfront fees and does not have any prepayment penalties. It allows customers to pay off their mortgage early without penalty. However, when making payments by paper check, one should understand that there will be four to six days taken to process it before getting deposited.
The lender also provides access to a mortgage servicers and provides options for an online account management and free Web access. Customers can expect help in getting a mortgage loan when working with a peer-to-peer program.
History of Ent
Knowing a bit about mortgage rates – and how they’ve changed over time – can help you better understand how you’ll be affected by changing mortgage rates.
The mortgage rates you’re familiar with are actually quite recent. For most of U.S. history, they didn’t exist. Instead, people would pay off their mortgages over a period of years.
In the 1930s, mortgage rates began to move toward a more modern system. Some financial institutions began to prefer monthly payments over an outright payout. By the 1960s, people could take home loans for almost any purpose. Previously, home loans were only available for the purchase of an existing home. But in the 1960s, people began to take out home equity loans to buy anything from a new car to a new home, according to the Consumer Financial Protection Bureau (CFPB).
Today, mortgage rates are considerably lower than they were in years past – that is, if you can find them. In the early 2000s, companies that sold mortgages were selling them essentially for free in order to compete. That’s not really a sustainable strategy, and companies backed away from it in short order. Today, mortgage rates are coming back but still nothing like they were during the 1950s and 1960s.
Ent Loan Specifics
__Parameters:__ A generic or conventional loan can be of a fixed rate or for a variable rate.
_For fixed rates,__ expectations include:
Fixed rates tend to be lower, depending on the prime rate at the time of loan.
For a 30-year fixed rate mortgage, payments will stay the same for 30 years.
For a 15-year fixed rate mortgage, payments will be higher than payments for a 30-year fixed rate mortgage but the total cost of the loan is lower.
Payments can be less traumatic, because you only pay for the interest.
For adjustable rates, expectations include:
Variable rates tend to be higher, and fluctuate with the prime rate.
There are two types of ARMs: those with illustrations (lower interest rates, but you pay more interest than a fixed-rate loan); and those without illustrations (higher interest rates, but there could be a reduction in payments or a principal-reduction benefit).
The beginning payment will be higher than the more stable, fixed rate loans.
When interest rates increase, they can rise with them, making your payments higher.
The payments could be lower, but you might end up paying more in interest.
Any prepayment fee needs to be analyzed.
Overall, the lower the interest rate, the greater the savings.
Fixed-Rate Loans
Fixed-rate mortgage loans have an interest rate that remains set, typically until the loan term ends. In effect, this locks in an interest rate during this period, making it easier to budget.
Fixed-rate loans are popular among homeowners who are concerned about interest rate changes and concerned about the ability to repay. Fixed-rate mortgages also allow for more, frequent opportunities to refinance or pay off the loan early at a lower interest rate.
Fixed-rate mortgages can also give you peace of mind during uncertain economic times. With your interest rate set for the duration of the loan, you don’t have to worry about rising rates.
Fixed-rate loans come with a lower initial rate than a variable rate loan, and since the interest rate remains fixed throughout the life of the loan, you know exactly how much each payment will be.
Even with the lower interest rate, a fixed-rate mortgage can still be more costly than a mortgage with a variable rate. However, if your financial situation is not likely to change significantly from when you apply for the mortgage, it might make sense to choose a fixed-rate mortgage.
Adjustable-Rate Loans
Mortgage rates are commonly reported using annual percentage rate, or APR. The interest rate is quoted as a single number, but the APR is more like a credit score. It’s a way for you to determine whether a mortgage is a good deal, or if the mortgage lender is trying to sneak some fine print past you.
APRs can be pretty intimidating so you need to make sure you are really understanding what’s going on with the rate. When it comes to making an informed decision about taking an adjustable-rate loan, don’t trust the rate. Instead, use the APR to determine whether the loan is a good deal.
I’m not going to bore you with the technical details of APR, but here are the basics:
{1}. APR is quoted in percentage terms.
{2}. The APR includes some or all of the following:
- The interest rate
- Origination fees
- Discount points
- The periodic interest rate adjustment calculated over the life of the loan
The inclusion of some or all of these fees and elements makes this measure much more valuable because it takes into account the full picture of the loan. This is why you see several different rates from several different companies, with the APR being the best way to compare them.
Jumbo Loans
VA Loans
VA home mortgage loans, also called VA loans, are home loans that are only offered and guaranteed by the Department of Veteran’s Affairs. Because they are government-guaranteed, VA home mortgage loans have some of the most consistent and affordable mortgage rates in the business. They also have some of the lowest default rates because of the government backing.
VA mortgages are popular with active and former military personnel because they offer special benefits such as the no-down-payment requirement, 100% financing, and a longer-than-average repayment period.
While low mortgage rates and borrowing possibilities are great reasons to apply for a VA loan, the other big benefits are the unique protections the government always offers to VA loan borrowers.
When you’re dealing with a government-backed mortgage loan, you don’t have to worry about company-related failures like bankruptcy. Your mortgage is backed by the government and will be paid through the government in the event of a company bankruptcy. But there are even better reasons to go with a VA loan.
For example, unlike many private mortgage companies, government-backed homeowner-protection laws don’t apply to conventional, non-VA loans. There are also fewer stipulations for handling foreclosure compared to many conventional loan programs.
FHA Mortgage Loans
FHA mortgage loans are a good choice if you have less-than-perfect credit and you’re seeking to buy a home. They’re designed for first-time homebuyers who may not have any previous ownership, but they can also be used by more experienced homebuyers. Sought-after schools, affordable homes, high-growth job prospects, and scenic views are a few of the reasons why many people are moving out of the major cities and into the suburbs.
To help potential homebuyers in suburban areas secure their ideal home, FHA mortgage loans have become highly popular. These federal home loans offer generous advantages, including flexible credit requirements and attractive interest rates.
What is an FHA loan?
An FHA loan is a home loan insured by the Federal Housing Administration. Such loans are ideal for first-time buyers and homebuyers seeking more affordable homes.
The FHA program began in the mid-1930s as a way to help low-income homeowners avoid foreclosure during the Great Depression. Since that time, the FHA program has expanded to serve all first-time and non-first time homebuyers.
Lot and Land Loans
Mortgages are the Worst.
ICMA created the Consumer Mortgage Marketplace Project, which monitors mortgage trends for the entire country. The latest update shows that mortgage originations for single family properties fell by 10% between the first quarters of 2010 and 2011. The biggest losers were those with lower down payments, those with less than 10% or 5% or even less than 3.5%. Interest rates for these lower down-payment mortgages have risen sharply from sub-4% levels to around 5% or slightly higher. Higher rates plus lower down-lending means less lending for homebuyers.
For new home buyers, this situation is far from dismal. After all, a purchase of a new home is one of the wisest financial decision you will make in your lifetime. You start building up equity from the first day you move in, you improve your property value year over year. The problem lies with those who bought several years ago and took out a typical, high-interest loan at that time, and they still need a refinance.
It is for this reason that a loan modification can mean so much to the homeowner. You can either cut the interest rate or even the principal – what a relief!
Construction Loans
Even before you get started with the remodeling process, it’s good to know the difference between a construction loan and a refinance loan … and which type is going to work best for you.
Here’s a quick breakdown of the different types of home loans:
Refinance
A refinance loan is a loan that allows homeowners to switch from an existing loan to a new one through the same home lender. Refinance loans can be used to:
Perform a cash-out refinance “ When homeowners want to refinance their existing mortgage and take out money to pay off debts or to finance other investments.
Perform an interest-only refinance “ When homeowners want to refinance their existing mortgage, but want to avoid having to pay back more than the principal amount owed.
Switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan “ When homeowners are concerned that their current ARM may be increasing in value or may rise in the future.
Construction Loan
First Time Home Buyer Program
Of course, an attractive mortgage rate is pretty appealing for a first time home buyer, but it doesn’t do you much good unless you can afford to pay for it.
Luckily for first time home buyers, the government did you a solid by providing a mortgage program that has some pretty attractive limitations on how high your payment can go.
Let’s take a closer look at this mortgage program and see how it can help you.
What is the First Time Home Buyer Program?
First time home buyers looking to revamp their credit are lucky enough to have plenty of options to choose from. However, the most attractive of the bunch is the government loan.
The government offers a loan that falls under the “qualified mortgage” category, so it’s no surprise that it allows first time home buyers to buy a home with no money down. The government is concerned that first time buyers who don’t already have a good credit score may find themselves in a bad financial position.
If you’re not interested in getting a new loan, you can consider buying a home with cash. However, a cash purchase is not for everyone.
Mortgage Assistance Programs
For many years, mortgages have been one of the primary ways people finance the purchase of homes. However, recent financial and economic conditions have created many new problems for borrowers.
Mortgage loans are often used to buy houses, but they can also be used to buy investment real estate. They are a lending arrangement where the lender gives you a sum of money (to be repaid later) in order to buy or improve a property that will then be used as collateral for the outstanding loan, as long as the property remains in good condition.
While mortgage loans are an important part of the real estate market, mortgages have too high interest rates and are not always available for people with unfavorable credit histories. Many people have experienced hardships recently regarding mortgages and the bottom line is that the housing market is correcting itself from the boom that happened for many years.
Ent Mortgage Customer Experience
Ent Mortgage is one of the top modern mortgage lenders. Their online presence is unique in that there are several consumer voices at play. Also, they seem to play by their own rules.
While reading customer reviews, I discovered that they often infrequently reply to customer emails. You may find yourself waiting overnight for any feedback on your concerns.
I also discovered that their online presence is transient. They are pros at getting high rankings for search terms. They may use different domain names depending on the type of service they provide.
Lastly, Ent Mortgage doesn’t appear to have a strong affiliation with FHA. They have different rates based on the type of loan you’re requesting … which is kind of confusing for potential customers because the rates are based on certain qualifying guidelines.
To summarize, Ent Mortgage customer experience is largely based on how quick you are to reply. You may feel like a second fiddle when you’re trying to get information from them, but they also have a lot of critical information for the Entrepreneurial Mind, if you keep your eyes on the prize: your business.
Ent Lender Reputation
When you go to look at Ent Mortgage Rates through lenders, you want to consider your credit. If your credit is great, then you could qualify for the best rates. However, if your credit is a bit bad, then your rate might be higher. You also need to consider the fact that you will not qualify for the best rates if you have recently financed your home. Having expressed this, you want to realize that you could still get a decent rate on your home loan.
Of the various home loans out there, Ent Mortgage Rates are quite easy to obtain. If you do give a person a decent credit rating, then they should be able to help you get the loan that you need. If you have bad credit, then you may be able to get loan. This may be a bit more difficult, but it should be possible. If you have no credit, then it should be possible to get a loan for you.
Ent Mortgage Qualifications
Do you have any idea what happens behind the scenes that directly impacts your interest rate? Mortgage interest rates and qualifications fluctuate on a daily basis, so you need to stay on top of current information.
That’s why I’ve put together this collection of the most popular searches on my website. At the time of this writing, mortgage rates are at an all time low and can be competitive when you take into account home loans with low down payment options. This is why the statistics suggest that more people are getting a mortgage than ever before.
Ent Phone Number & Additional Details
EnTrust Mortgage, which is based in Fife, Pennsylvania, was established by Richard Carey in 1994. The company is a highly recognized, full service mortgage lender that supports both conventional and non-conventional funding programs.
Products & Services
EnTrust offers top-notch mortgage products for all property types including single-family, multi-family, commercial, and refinancing programs.
{1}. Residential
{2}. Refinance
{3}. Non-Warrantable
{4}. FHA
{5}. VA
{6}. DU Refinance
{7}. Rehab (Borrowers who have already purchased a property that needs repairs)
{8}. Bankruptcy
EnTrust Mortgage Company Reviews
Reviews of EnTrust Mortgage are positive, with an overall satisfaction rating of 3.5 stars out of 5 on the company’s national Google consumer rating page.
According to the company’s website, in 2006 EnTrust Mortgage won the “Outstanding Lender Award” from the Hard Money Lenders Association. In addition, the company has also earned a Texas Association of Mortgage Brokers (TAMB) Award of Merit.