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What Types of Mortgage Loans Does McGlone Mortgage Group Offer?
McGlone Mortgage Group offers a variety of home purchase and refinance loans, including:
- Conventional loans.
- Jumbo loans.
- Federal Housing Administration loans.
- Department of Veterans Affairs loans.
- U.S. Department of Agriculture loans.
- HomeStyle Renovation loans.
- Energy Efficient Mortgages.
How Does McGlone Mortgage Group Work?
You can apply for a McGlone Mortgage Group home loan online or through the Go McGlone mobile app
. You can get preapproved when you work with a McGlone loan originator and view offers by filling out an online form. The Go McGlone app lets you securely scan and upload documents, communicate with your loan officer and track your loan application progress.
What Are the McGlone Mortgage Group’s Terms, Fees and Conditions?
You can check rates for a variety of loans on McGlone’s website. Note that your actual options may differ based on factors including your creditworthiness.
Fees you may encounter in your closing costs include a loan origination fee and an appraisal fee.
The minimum down payment for a conventional loan is usually 5%, but you’ll generally need private mortgage insurance if you put down less than 20%. McGlone’s Lock and Shop program lets you lock in your rate for 70 days so you can search for a new home without worry about rising rates.
What Discounts Does McGlone Mortgage Group Offer?
McGlone will give preapproved borrowers a lender credit of up to $500 toward the cost of a home appraisal. You can also request a closing guarantee that promises the seller $5,000 if the loan doesn’t close on or before your contract close date.
How Can You Qualify?
McGlone Mortgage Group analyzes credit scores and other factors in lending decisions. There is no minimum credit score listed on the website for conventional loans, but jumbo loans may be available with credit scores of 660 and above. The lender allows co-signers on conventional loans for single-family homes.
What Credit Score Do You Need?
McGlone doesn’t disclose the minimum credit score for most of its loan programs. The exception is jumbo loans, which may be available with a credit score of 660 or better, depending on factors such as property type and loan-to-value ratio. You can provide an estimated credit score as low as 500 when filling out the lender’s online form to view offers.
Where Does McGlone Mortgage Group Operate?
McGlone Mortgage Group offers loans in 45 states and Washington, D.C. It does not operate in Alaska, Hawaii, Missouri, Nevada or New York, though its website says it is working to obtain more state licenses.
Is McGlone Mortgage Group Reputable?
McGlone Mortgage Group is rated A+ by the Better Business Bureau. The Consumer Financial Protection Bureau listed no complaints about McGlone in 2021.
How Is McGlone Mortgage Group’s Customer Service?
McGlone can be reached via phone at 800-787-0947 or 920-214-8969 or by email at customerservice@homesteadfunding.com. You can also fill out the online contact form on the lender’s website, or communicate with loan originators and real estate agents through the Go McGlone mobile app.
What Are Some of McGlone Mortgage Group’s Online Features?
McGlone Mortgage Group has an online application for home loans along with multiple mortgage tools and resources, including a mortgage affordability calculator and mortgage payment calculator. You can upload documents through the lender’s mobile app.
McGlone Mortgage Group Mortgage Loans Are Best for:
- People seeking a variety of loan options.
- People who want to use a co-signer.
- People who want an online application process.
- Low FICO Credit Score
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Not disclosed
- Low FICO Credit Score
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620
- Low FICO Credit Score
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620
- Low FICO Credit Score
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620
- Low FICO Credit Score
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620
- Low FICO Credit Score
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620
- Low FICO Credit Score
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620
- Low FICO Credit Score
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Not disclosed
- Low FICO Credit Score
-
620
- Low FICO Credit Score
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Not disclosed