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Nationwide
Advantage Mortgage Co.
 (866)
816-5143
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The
Grand Lodge FOP has endorsed Nationwide
Advantage Mortgage to offer members and their
families a mortgage program that makes home
financing easy, inexpensive and stress-free.
Click beflow to read more,,
Want to know what sets Nationwide
Advantage Mortgage apart from its competitors?
Gene B. Russell, Business Relationship Manager,
provides seven reasons why FOPAdvantage is the
best mortgage deal for law
enforcement.
Through state conferences, I have the
honor to present the Nationwide Advantage
Mortgage Program to FOP members & delegates
across the USA. Here's a snapshot of the Top
Seven Reasons to use the FOP Advantage for your
next mortgage loan.
Number 7
Endorsement by the Grand Lodge FOP:
Nationwide Advantage Mortgage was reviewed
thoroughly so members would receive
competitively priced, low cost mortgages. We
are pleased to support the Grand Lodge so they
may support law enforcement in your
community.
Number 6
No
Predatory Lending: Nationwide Advantage
Mortgage Company has made a commitment as part
of its business plan to be a low cost provider
of mortgage loans and to avoid predatory
lending practices. Most often, the victims of
predatory lenders are low and moderate income
individuals, minorities and the elderly. But
anyone-including you-can be misled by a
predatory lender.
We
believe that predatory lending involves:
 charging points
and fees to a borrower that are excessive
and/or unallowable; falsifying
credit and/or appraisal documentation;
providing a loan
to a borrower who clearly cannot afford to make
the payments; "loan flipping"
where a lender repeatedly refinances a loan,
thereby collecting additional fees in order to
strip the equity from the home (Note: this
list is not meant to be
all-inclusive)
Number 5
No
Private Mortgage Insurance (PMI) on most loans:
PMI is extra insurance that lenders require
from most homebuyers who obtain loans that are
more than 80 percent of their new home's value.
In other words, buyers with less than a 20
percent down payment are normally required to
pay PMI. PMI is not tax
deductible.
Nationwide Advantage Mortgage utilizes a
Low Down Payment Rate Adjustment (LDPRA)
instead of PMI. LDPRA utilizes similar terms
and conditions as PMI. However, LDPRA often
costs less and offers income tax
deductibility.
PMI
plays an important role in the mortgage
industry by protecting a lender against loss if
a borrower defaults on a loan and by enabling
borrowers with less cash to have greater access
to homeownership. This means that you can buy a
home sooner without waiting years to accumulate
a large down payment.
Number 4
1-2
Unit Investment Properties: Check with
Nationwide when you want to purchase or
refinance investment properties. Many lenders
treat these loans as commercial loans with
accompanying higher interest rates, points and
fees.
Number 3
0%
Down Payment Mortgages: This is an excellent
program for members purchasing their first home
or those who wish to invest their equity
elsewhere. With an approved credit profile, the
borrower must contribute a minimum of $500 and
have funds available for third party closing
costs. This program allows the seller to pay up
to 3% towards buyers' closing
costs.
Number 2
Best Price Guarantee: We want you to be
assured that Nationwide Advantage Mortgage Co.
is the low cost lender. We will match any
competing lender's offer to approved and
registered customers. We will "match" a
competing lender's Base Interest Rate, Points
and lender fees (Annual Percentage Rate-APR) or
we will pay you $300.00 after you close your
loan with the competing lender.
For Best Price Guarantee details,
please visit www.FOPAdvantage.com or call (866)
816-5143.
Number 1
Low
Cost Lender: Nationwide Advantage Mortgage
Company has reduced and eliminated many
lender's fee. Since we are a direct lender and
the fact that our call center mortgage agents
are salaried, we don't charge expensive
origination fees or other fees that
dramatically increase the cost to acquire a
mortgage. These "profit fees" could easily
amount to 1% to 5% of the loan
amount.
How
does a FOP member identify a low cost lender?
Ask a lender the correct first question.
At zero points, what is the Annual Percentage
Rate (APR) and the loan
rate?
The
narrower the spread between the loan rate and
APR indicates a loan's lower acquisition costs.
Simply put, consumers keep more of their
money.
The
wider the spread between the loan rate and the
APR means more money is collected for points,
origination and lender's fees. In addition, APR
will also help you determine if you are
unwittingly buying down the interest
rate.
Choose a loan with no prepayment
penalties, competitive interest rate and low
lender's fees and you'll have more cash for
down payment, third party closing costs or
future home improvements. That's Nationwide
Advantage Mortgage-we're on YOUR
side! |