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j8ear · 10-26-2005, 05:07 PM

Anyone ever heard of them? Secured a mortgage from them? Have any thoughts one way or the other about them?

I have been shopping VA Mortgage lenders and these folks will streamline a 300K plus VA mortgage at a fixed 5.75 with .75 points, for 30 years, for me.

No one else has come close. (others 6.2x with zero points, or 6.0 with one point).

They ~will~ likely sell the mortgage down the road. Probably to Wells Fargo...but to who it actually is, is anyone's guess. This doesn't overly concern me.

I think, I'm going to eventually close with them, but would love any words of caution or encouragement from anyone who has anything to offer.

The only thing I could find about them with a little googling is an Audit which found some anomolies in their HUD loans with regards to fees. Seems to have been cleared up years ago.

The one thing about VA mortages is that all the origination and closing fees are restricted, and nothing erroneous can be charged.

This is my third mortgage, but my first of the VA variety. My previous two I was very happy with, but of the two, I preferred SunTrust because they send a monthly statement with an envelope to mail in the payment, while Principal sent me a payment book and a stack of envelopes at the loans inception.

Any and all experience appreciated.

-bear

10-26-2005, 05:07 PM	#1 (permalink)
j8ear Gentlemen Farmer Location: Middle of nowhere, Jersey	New Freedom Mortgage. Anyone ever heard of them? Secured a mortgage from them? Have any thoughts one way or the other about them? I have been shopping VA Mortgage lenders and these folks will streamline a 300K plus VA mortgage at a fixed 5.75 with .75 points, for 30 years, for me. No one else has come close. (others 6.2x with zero points, or 6.0 with one point). They ~will~ likely sell the mortgage down the road. Probably to Wells Fargo...but to who it actually is, is anyone's guess. This doesn't overly concern me. I think, I'm going to eventually close with them, but would love any words of caution or encouragement from anyone who has anything to offer. The only thing I could find about them with a little googling is an Audit which found some anomolies in their HUD loans with regards to fees. Seems to have been cleared up years ago. The one thing about VA mortages is that all the origination and closing fees are restricted, and nothing erroneous can be charged. This is my third mortgage, but my first of the VA variety. My previous two I was very happy with, but of the two, I preferred SunTrust because they send a monthly statement with an envelope to mail in the payment, while Principal sent me a payment book and a stack of envelopes at the loans inception. Any and all experience appreciated. -bear __________________ It's alot easier to ask for forgiveness then it is to ask for permission.