Freedom Mortgage Offers 1% lender Credit to Buyers
Home Buyers & Real Estate Agents Take Notice!
Buyers- you could save thousands of dollars at closing!
Effective June 1st, 2011 the local Wall Township, NJ branch location of Freedom Mortgage Corporation is test marketing a new program targeted at home buyers. The offer consists of a 1 percent lender credit towards closing costs on all loan programs including: FHA, Conventional, USDA, VA & Fannie Mae Home Path loans. This is not limited to first time buyers! Anyone who becomes pre-approved on or after June 1st, 2011, and applies for financing & subsequently closes with Freedom Mortgage prior to the initial expiration date of September 30th 2011 is eligible to receive this credit towards their closing costs as listed on the final HUD-1 settlement statement. The program is available on primary residences, second/vacation homes, and investment property, and for single family, condo/townhome, and 2-4 unit properties.
BUY A HOME & GET a 1% LENDER CREDIT TOWARDS YOUR CLOSING COSTS!
PLUS 30 year fixed rates as low as 4.25% (4.466% APR)
NJ Real Estate agents can obtain promotional materials
(flyers, and savings certificates) by email request.
Send requests for more information & promotional materials to: jeff.coon@freedommortgage.com
Freedom Mortgage Corporation offers direct lending to the public. Headquartered in Mount Laurel, NJ and with a 25 year+ proven track record, Freedom has a focus on supporting local real estate agents efforts to grow their business, and to provide support to the local NJ real estate market. Buyers can obtain Fast, Free mortgage pre-approvals, and enjoy personal one-on-one licensed & professional loan officer support throughout the process of shopping for a home.
To request pre-approval or to inquire about details of this exciting new program, please contact:
Jeff Coon
Branch Manager,
Freedom Mortgage Corporation
NMLS ID# 19375
(732) 938-2252 x 303
jeff.coon@freedommortgage.com
1800 Route 34 North Suite 406
Wall, NJ 07719
Branch NMLS: 57957. NJ Branch License # 0743118
Freedom Mortgage Corporation is an approved lending institution. This offer is made solely by Freedom Mortgage Corporation and is not intended to imply in any manner whatsoever that any loan product or service will be or has been originated by HUD, FHA, VA, the U.S. Government or any Federal, State or local governmental body. *30 year fixed rate of 4.250% with APR (Annual Percentage Rate) of 4.466% was based on a loan amount of $300,000 as of 05.24.11. Rates Change Daily. Terms of offer subject to cancellation, contact lender for details. **Call for program details, terms and conditions. Lender Credit applies only to closing costs towards a new purchase mortgage. Savings may differ depending on your specific situation. This offer is only redeemable at the Wall Township, NJ Freedom Mortgage Branch. Offer has no cash value and is not redeemable for cash. Only one offer per application. Cannot be combined with other offers. Lender NMLS ID: 2767. Licensed by the NJ Department of Banking and Insurance, License #9939948. Freedom Mortgage corporate office is located at: 907 Pleasant Valley Ave. Suite 3, Mount Laurel, NJ 08054. All Rights Reserved.
Jeff, How's the new program working out? Is the 1% generating extra business?
Yes, the 1% offer has sparked some interest, buyers considering other lenders have expressed interest, and several new loans are directly attributable to this program. We are still working on spreading the word about this offer. Many agents in the area have more listings than buyers right now, which is contributing to the overall slowdown in activity.
Would the lender credit be applied towards all type of 3rd party fees? For example, I understand I won't walk away from the closing table with cash in my pocket, but is there any fee that will not be covered, ;i.e. mortgage tax, escrows?
Also, if this fee pays my mortgage tax, will I be precluded from getting the deduction on my individual taxes in the preceeding year?
Thanks
Yes, the lender credit is applied towards third party fees. You are correct that you cannot have more applied than there are fees, but this is not usually the case. We can apply our credit towards things like attorney & title fees, recording, surveys, appraisal, insurances & taxes.
I don't believe you will lose any ability to deduct applicable items from your taxes, but I'd advise you to check with your tax professional.
Please let me know if there's anything else I can help with!