There are a number of institutions that buyers can choose to apply to for home loans in Detroit, but those who want superior rates and reasonable terms turn to Direct Financial. As a trusted mortgage provider, there are a number of reasons why our clients choose us over others for their needs. Our lending specialists are some of the most experienced in the industry, and they are ready to get you into a home with personalized service and options to meet most buyer’s needs.
Our financial team is ready to discuss a variety of options for current homeowners, first-time buyers, and we also assist with refinancing mortgage loans to keep owners headed in the right direction financially. Direct Financial offers loans for primary residences, seasonal properties, vacation homes, with options for traditional mortgages, adjustable-rate mortgages, jumbo mortgages and many others.
We’ll help you find the home loan that’s optimal for your situation with choices that are tailored for your individual goals. Our financial officers help buyers take advantage of every benefit possible throughout the process with programs that allow you to pick the rate and terms of your mortgage loan and take advantage of our low closing costs.
Mortgage Loans for First-Time Homebuyers
Direct Financial is committed to providing first-time homebuyers in Greater Metro Detroit area with reasonable and fair mortgage options. We understand that the upfront and ongoing costs of homeownership can seem overwhelming when buying a first home. However, we have several home mortgage options for first-time buyers as well as government-sponsored loans.
No longer is the standard rule of thumb that a 20% down payment is required on a home loan. Depending on your circumstances, you may qualify for a mortgage with as little as three percent down or even zero down under certain first-time buyer programs.
A great option for first-time home buyers is Direct Financial’s H.O.M.E. Program that allows buyers to choose an adjustable-rate mortgage that is priced under our fixed rates with flexible underwriting guidelines and reduced-price insurance.
Direct Financial Has an Easy Application Process
Here at Direct Financial, we strive to make it easy for home buyers in the Greater Metro Detroit area to apply for a mortgage loan with our company. Our application process is a simple four-step process that is user-friendly, and your online application can be saved at any time, giving applicants the time they need to accumulate paperwork as needed.
The first step to obtaining a home loan from Direct Financial to secure your home is to fill out our application using our user-friendly online portal. In-person application meetings are available by appointment only. We suggest submitting applications at least three months prior to your desired moving date. This lead time allows you to complete the financing process in ample time to prevent any delays at closing.
You will meet with your loan officer in the preapproval stage to go over your potential payments, rates, and closing cost estimates. Your official loan estimate will only be issued once you have selected a property and have submitted your purchase and sales agreement to your loan officer.
The next part, if you are satisfied with the loan estimate, will be to submit the final necessary to confirm your fiscal ability to repay the loan. A checklist will be sent to you with the required information.
Refinance Existing Mortgage Loans
Here at Direct Financial, we have streamlined the process for refinancing existing mortgage loans. Perhaps you are interested in changing the current terms or rate of your home loan. Maybe it’s time to take on paying off high-interest rate credit cards or making home improvements. There are several refinancing options that can put more cash in your pocket and ease financial strain.