Information that a Prodigy Lending’s loan officer in Boyd, Texas
SERVICES OFFERED BY PRODIGY LENDING
Prodigy Lending is a home loan lending company that is proud to have been awarded as the Top Work Places for the past eight years. We’re committed to excellence in the workplace and honored to have received such recognition. We are known as one of the best private mortgage lenders in the United States offering a variety of loan programs.
We have the lowest, most current mortgage rates available depending on whether you are refinancing an existing loan or purchasing a home as a first time home buyer. With the help of our highly experienced team of loan officers, we can help you find the right loan program at the lowest rate possible. We offer a wide range of services including:
- Funding house purchase
This is the main service offered by the Prodigy Lending to first time home buyers. This loan program funds first time home buyers who wish to purchase homes that will be their primary residence. With the required documents one is able to get their loans approved and enjoy being homeowners through this program.
- Refinancing for an existing home loan
Refinancing is the process of applying for a mortgage to boost one you had applied for earlier. This is done so as to improve your house in terms of repair or renovate your house. To others refinancing has so many benefits which are:
- Reduces one’s mortgage term and mortgage rate thus it saves some money.
- It helps those switching from a fixed rate repayment plan to an adjustable-rate mortgage repayment plan.
But to others refinancing seems like a burden since:
- It may lengthen one’s mortgage term which becomes stressful an example:
If you have a 10-year mortgage term and only 5 more years remaining till you clear the debt, then refinance five more years are added to your mortgage term and you go back to where you started.
- Refinancing does not apply to someone who wishes to relocate to some other place.
There are two types of refinancing options offered by the Prodigy Lending that a person that has chosen to refinance can pick from, these options include:
- The VA streamline refinance option
It is also known as the Interest Rate Reduction Refinance Loan (IRRRL). This option is easy to qualify for since the paperwork needed is not as much. The closing fees are also paid by the mortgage thus not much money is needed.
- Cash-out refinance option
This loan option enables borrowers to use the equity of their homes as cash and use it for other purposes. This refinance option is easy to apply and qualify for especially to anyone who is eligible for the VA Loans.
Please contact us for more information!