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The VA Home Loan Advantage

May 26
12:46
PM
Category | Prosperity News

At Prosperity Home Mortgage, LLC (Prosperity), we proudly salute the commitment and sacrifice of servicemembers, veterans, and military families who have supported and defended our nation.  That is why on Veterans Day 2014, Prosperity began extending incentive offers—in addition to the beneficial features of a VA home loan—to help lower the cost of purchasing a home for veterans in need of housing within the communities we serve.

Since its inception on November 11, 2014, the program has been a tremendous success thanks to the many outstanding clients who have chosen to work with us to obtain home financing.

We are pleased to share that through the VA Home Loan Advantage, Prosperity has funded over 2,700 VA home loans and has provided over $3.9 million in waived origination fees and appraisal credits since the program began!

“With many veterans and military families in need of affordable housing, we recognized an opportunity to give back to our military service men and women. Not only can we offer veterans all the benefits of a VA home loan, but also we can provide them with additional incentives to help lower the cost of purchasing a home or even refinancing their existing home,” said Tim Wilson, CEO of Prosperity. “It’s just one of the many ways that our Prosperity family gives back to the communities in which we live and work.”

Ron Wivagg, National Sales Support Manager for Prosperity, expanded on Wilson’s thoughts.

“Prosperity has built a strong reputation among active military, veterans and their families for providing outstanding service and support. We are delighted to give back to this exceptional community of people, and we are eager to continue to deliver an extraordinary home financing experience to them,” said Wivagg.

Veterans, active duty servicemembers, or eligible military families who finance their home with a Veterans Affairs (VA) loan through Prosperity may be qualified to receive discounts and complimentary services.  Incentive offers include:

  • No loan origination fee (up to $1,085 value) through Prosperity Home Mortgage, LLC
  • Complimentary appraisal (up to $450 value)1

Additional incentive offers for settlement services and home inspections are also available in certain geographical locations.2,3  Ask your mortgage consultant to find out if additional incentives are available in your area!

 

Want to learn more about the VA Home Loan Advantage?  Contact a mortgage consultant near you!

 

 

 

 

1. Borrowers are eligible for a lender credit toward closing costs on the Closing Disclosure on a new purchase, secured by a first mortgage or deed of trust (New Loan), subject to qualification, approval and closing with Prosperity Home Mortgage, LLC. Loan must close within 90 days from the date of loan application. Discount may not exceed $450.00 for appraisal. Credit coupon must be presented at time of application and all eligibility requirements met no later than 2 days prior to the New Loan closing date. This discount is void where prohibited and is non-transferable, subject to the terms herein, and valid on all complete applications received on or before 06/30/2017.

2. $200 off settlement fees available through participating settlement services companies:  RGS Title (District of Columbia, Maryland, Virginia); Sage Title Group (District of Columbia, Maryland, Virginia); Settlement Pros (District of Columbia, Maryland, Virginia); Mid-States title of SWVA (Virginia); Bon Air/Long & Foster Title Agency, LLC (Virginia)

3. Home inspection services provided by US Inspect include a 10% discount and a 90-day home inspection guarantee to all Veteran borrowers obtaining VA loan financing with Prosperity Home Mortgage, LLC. The home inspection guarantee covers items that were inspected by US Inspect and found to be operating properly at time of inspection.  For limitation and exclusions, please see 90 day guarantee terms and conditions. Use coupon code “VALOAN” and call: (888) 874-6773

All Incentive offers valid on complete VA home loan applications received between 04/01/2017 and 06/30/2017. Loan must close within 90 days from the date of loan application. Only one discount permitted per New Loan.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2017 Prosperity Home Mortgage, LLC. All Rights Reserved.


Prosperity Home Mortgage Recognized as
One of America’s Top 100 Mortgage Companies

CHANTILLY, Va. – Prosperity Home Mortgage, LLC, (Prosperity), a full service mortgage banker and wholly owned subsidiary of The Long & Foster Companies, ranked as one of the best mortgage companies in the nation by Mortgage Executive Magazine.1 The publication spotlights the country’s leading lenders in its annual list of Top 100 Mortgage Companies in America 2016, and Prosperity has earned a position in the top 50 for the third year in a row.

“We’re thrilled that Mortgage Executive Magazine named Prosperity as one of the leading mortgage companies in the country, and thank our excellent team of professionals for enabling the company to achieve such an honor,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster Companies. “Rankings such as this one demonstrate the extraordinary service and commitment that our mortgage consultants provide to each of their clients. Their continuous dedication to providing personalized, focused service to every Prosperity customer is why we remain among the top lenders in the nation.”

Tim Wilson, CEO of Prosperity Home Mortgage, echoed Detwiler’s thoughts. “It’s an honor to be ranked among the top mortgage companies in the country, and this award illustrates the wealth of knowledge, integrity and professionalism that our team of experts brings to each transaction they do—all in support of Long & Foster’s mission to guide buyers, sellers and investors on their journeys home,” Wilson said.

About Prosperity Home Mortgage, LLC

Prosperity Home Mortgage, LLC, a wholly owned subsidiary of The Long & Foster Companies, is a full service mortgage banker that specializes in residential and refinance loans. It offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and renovation financing. Prosperity Home Mortgage is represented by more than 150 mortgage consultants. Prosperity Home Mortgage funded over 11,500 home loans with a loan volume of almost $3.3 billion in 2016.  Prosperity currently operates across the East Coast, from Georgia to New Jersey, and has recently expanded operations into Detroit, Michigan.

 

 

 

1. Ranking published in Mortgage Executive Magazine, Spring 2017 Edition.
All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2017 Prosperity Home Mortgage, LLC. All Rights Reserved.


We are pleased to announce that effective May 1, 2017, Prosperity Home Mortgage, LLC (Prosperity) has expanded its operations into the Detroit, Michigan area!  Prosperity will serve real estate professionals, homebuyers and existing homeowners throughout the entire Detroit Metro area, and we look forward to demonstrating our commitment to extraordinary service. 

“We’re thrilled to have the opportunity to expand our footprint into the Midwest,” said Tim Wilson, CEO of Prosperity Home Mortgage.  “Prosperity continues to be one of the best mortgage companies in the country, and we are looking forward to showcasing the wealth of knowledge and integrity that our team of mortgage professionals brings to each and every transaction—all in support of our mission to deliver to our clients an extraordinary home financing experience.”

Ron Wivagg, National Sales Support Manager for Prosperity, echoed Wilson’s thoughts.

Prosperity has built a strong reputation for providing the highest quality of service and support to the clients we serve.  We lead the way with cutting-edge tools and technology, as well as competitive loan products,” said Wivagg.  “I’m confident with our continued dedication to providing personalized, focused service to each and every Prosperity customer, we’ll show our clients in Detroit exactly why we are among the top lenders in the nation.”

Prosperity has ranked as one of the best mortgage companies in the nation by Mortgage Executive Magazine, a publication that spotlights the country’s leading lenders in its annual list of Top 100 Mortgage Companies in America 2016.  Prosperity has earned a position in the top 50 each year since 2014.

Prosperity’s mortgage professionals have the advantages of a much larger company with more resources and better technology, while also maintaining the family approach to business that ensures our clients’ continued real estate success, added Wivagg.

The company offers very competitive interest rate pricing and a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA), Veterans Affairs (VA) loans, down payment assistance and bond programs, home equity line of credit programs, and renovation financing.

Prosperity operates 5 regional offices for loan processing, underwriting and closing and is represented by over 150 mortgage consultants operating in Washington, D.C. and 12 states including: Delaware, Georgia, Indiana, Maryland, Michigan, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

 

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2017 Prosperity Home Mortgage, LLC. All Rights Reserved.


So you’ve decided to buy a home, but you need to close—FAST.  Good news!  Prosperity Home Mortgage, LLC (Prosperity) now offers the new Prosperity EXPRESS program for eligible home buyers to close on a home more quickly.  Prosperity EXPRESS is a program that offers expedited loan processing and underwriting on certain mortgage products, which can provide a faster loan closing.1  When you need mortgage financing solutions for a fast-paced real estate market, Prosperity EXPRESS can help!

Here are some advantages of the program:

Faster Financing Process – Qualified home buyers may receive a full commitment letter within 7 business days after a purchase contract has been ratified.2

More Competitive Purchase Offer – For qualified buyers, an accelerated home financing process may help a purchase offer look more attractive to sellers in a multi-offer situation.

Faster Closing – A quicker home financing process can help expedite the home’s closing date.

Variety of Home Loan Options – Prosperity EXPRESS may be used in conjunction with conventional and government home financing products.1

“As a mortgage company, we’re committed to finding new ways to make the home financing process more efficient,” said Ron Wivagg, National Sales Support Manager at Prosperity.  “The impact of Prosperity EXPRESS is significant.  The program allows for an expedited closing date to help buyers win multi-contract scenarios, and it also helps reduce the stress of the home buying process so our clients can focus on other matters related to buying a home, such as planning their move and setting up services at their new home.”

The Prosperity EXPRESS program offers a 7 day loan commitment, which includes the property appraisal. It shortens the loan process and helps reduce stress by minimizing last minute conditions.  The program is offered to qualified conventional, FHA and VA loan borrowers who are W-2 wage earners (no self-employed customers), but buyers should be prepared to provide certain documentation upfront. At their loan application, borrowers who are eligible for the program and wish to participate should be prepared to submit:

  • 30 days paystubs,
  • 2 years W-2s (or tax returns for commission-based income),
  • 2 months banks statements and
  • signed disclosures.

To learn more Prosperity EXPRESS, contact your local mortgage consultant.

 

 

 

1. FHA Credit Advantage loans and loans requiring manual underwriting do not qualify for Prosperity EXPRESS. Self-employed borrowers do not qualify for Prosperity EXPRESS.

2. Prosperity EXPRESS is not a loan approval. A Commitment Letter is based on information and documentation provided by you and a review of a borrower’s  credit report. The interest rate and type of mortgage used to approve a borrower for a specified loan amount is subject to change, which may also change the terms of approval. The interest rate cannot be locked until the borrower’s offer to purchase a property has been accepted. If the interest rate used for credit approval has changed, the borrower may need to re-qualify. Information provided by the borrower is subject to review and validation, and all other loan conditions must be met. After the borrower has chosen a home and the purchase offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title commitment.  Additional documentation may be required.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2017 Prosperity Home Mortgage, LLC. All Rights Reserved.


Between down payments and closing costs, buying a home is a big financial commitment that may seem out of reach for those who ultimately choose to rent instead. However, in today’s market environment of rising rents, the difference in cost between renting and owning is actually narrowing, making this a favorable time to buy a home in most U.S. cities.

According to a recent national index from Florida Atlantic University and Florida International University faculty, the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, 15 of the 23 cities covered are solidly in buy territory, while another five are only marginally in rent territory.

Want to know if buying is a better than renting for you? Ask yourself the following questions:

How stable is my employment situation? Lenders will take the length of time you’ve spent at your current job into consideration, so if you’ve jumped around a lot or just started a new position, that may work against you.

Are you ready to settle down for awhile? Buying a home is an excellent long-term investment, not usually a quick flip. So if you’re still testing out different cities or interested in seeing the world, renting may be a better option.

What shape is your credit in? Your credit score weighs heavily in securing a favorable mortgage loan. If yours is not in the best shape, it may be better to rent while you work at building a better credit profile.

What’s your true financial picture? While your salary may seem more than sufficient to make your projected mortgage payments, keep in mind that homeownership involves many different costs, from property taxes to repairs. So run the numbers carefully before deciding to buy.

The best way to decide whether to rent or buy is to consult a real estate professional in your area. If you’d like more information about home financing, please contact a mortgage consultant near you.

 

 

 

Reprinted with permission from RISMedia. ©2017. All rights reserved.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Indiana, Maryland, Michigan, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2017 Prosperity Home Mortgage, LLC. All Rights Reserved.


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