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Submitted URL: https://mysig.io/1lZYkvYQ
Effective URL: https://mtg101.com/
Submission: On February 23 via manual from MX — Scanned from DE
Effective URL: https://mtg101.com/
Submission: On February 23 via manual from MX — Scanned from DE
Form analysis 2 forms found in the DOM
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</form>Text Content
Skip to content
* Home
* About Us
* Why Us
* Reviews
* Join Our Team
* Home Purchase
* Commercial Lending
* Resources
* Loan Programs
* Loan Process
* Mortgage Basics
* Appraisals
* Closing Costs
* Credit
* Foreclosure
* FHA Loans
* VA Loans
* Mortgage Glossary
* Private Mortgage Insurance (PMI)
* Refinance
* Mortgage Calculator
* FAQ
* Contact Us
* Loan Officers
* Loan Officers
* Loan Officer Login
* Loan Officer Registration
Office
150 S. Pine Island Road, Suite 300, Plantation, Fl 33324
Phone Number
1-855-456-9782
Email
info@mtg101.com
* Corporate Office: 150 S. Pine Island Road, Suite 300, Plantation, Fl 33324
* Phone: 1-855-456-9782
* Email: info@mtg101.com
* MLS Number 1559635
Direct Mortgage Investors Inc.
Residential | Commercial | SBA Loans
* Home
* About Us
* Why Us
* Reviews
* Join Our Team
* Home Purchase
* Commercial Lending
* Resources
* Loan Programs
* Loan Process
* Mortgage Basics
* Appraisals
* Closing Costs
* Credit
* Foreclosure
* FHA Loans
* VA Loans
* Mortgage Glossary
* Private Mortgage Insurance (PMI)
* Refinance
* Mortgage Calculator
* FAQ
* Contact Us
* More
* Loan Officers
* Loan Officers
* Loan Officer Login
* Loan Officer Registration
CUSTOMER PAYMENT
Direct Mortgage Investors Inc.
Residential | Commercial | SBA Loans
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SCHEDULE A CALL CALL NOW
REAL ESTATE FINANCING & PROCESSING COMPANY
SCHEDULE A CALL
CALL NOW
WHY US?
Here are some reasons we believe we are the best real estate financing &
processing company around
EXPERT HELP IN ORGANIZING AND COLLECTING DOCUMENTS
Our system will help you process and organize all the necessary paperwork
streamlining tasks.
REDUCED OVERHEAD COSTS
Processing applications can be costly and diminishes you bottom line. Our system
is designed to save you time and money.
ENHANCED CUSTOMER SATISFACTION
Our customers have high expectations and our fast and reliable services will
exceed their expectations.
REDUCE TURNAROUND TIME
Processing applications fast and secure are a must for all parties involved. Our
system is designed for productivity.
ACCESS TO INTEGRATED AND AUTOMATED SYSTEMS
We have a group of amazing tools and software to help you process applications
fast, secure and reliable.
COMPREHENSIVE CREDIT CHECK
We have an amazing set of tools to provide accurate and detailed credit
verification reports.
STREAMLINING COMPLEX PROCESSES
Processing applications fast and secure is a major task in any lending process.
We have put together a system to help you navigate the process smootly.
LEVERAGE MODERN TECHNOLOGY TO IMPROVE THE MORTGAGE PROCESS
In todays lending market more and more tools are available to meet the demand
and we have the best tools available to do just that.
TAKE ADVANTAGE OF OUR EXPERIENCE AND KNOW-HOW
We have many years in the business and you can count on us to help you through
the process on every step of the way.
ABOUT US
Since commencement in 2000, Direct Mortgage Investors, Inc has always been
forward-thinking, with creative financing options for those with challenges.
With partnerships with over 200 banks and Investors, we create a frictionless
process to bring in the new era of mortgage loan pathway, which many of our
competitors call our process unique and seamless.
With over 100 employees with a mass diversity, with the capabilities to
communicate in a dozen languages. All of our professional Loan Officers have a
four-year college degree and or over five years operating in the mortgage
finance business, experience and intelligence set us apart from the rest.
Unlike your local retail bank, we wouldn’t treat you as a number, more
straightforward and transparent communication that doesn’t cease after 5 PM.
We are determined to earn your trust by providing you with the foremost service
along with the lowest possible rates and cost. Direct Mortgage Investors, Inc,
your lifetime mortgage lender!
BEST REAL ESTATE FINANCE PROCESSING COMPANY
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SUBMIT
HOW OUR SERVICES CAN HELP YOU
From start to finish our goal to create a smooth loan process for our borrowers.
Meeting deadlines and expectations is what our reputation has been built upon
and is paramount to our continued success in the market. When you come to Direct
Mortgage Investors Inc. you will get five-star service. Direct Mortgage
Investors Inc. is a very reputable and experienced company and that makes us
different than many other companies and we understand the nuances of our local
market and the different loan programs available to all over the country. We
will show you Direct Mortgage Investors Inc. company is the only way to go.
REPUTABLE & RELIABLE COMPANY
With many years of lending experience we can guarantee you resources to get you
help you get results
MEETING YOUR EXPECTATIONS
Every lending process is different and require customized process for every
situation to get the results everyone involved expects.
SMOOTH LENDING PROCESS
Having all the resources of our company at your disposal helps makes lending
process a lot smoother.
FASTER AND POSITIVE RESULTS
Using our resources will give you a better chance and ultimately get the results
you want.
10K
APPLICATIONS APPROVED
5
STARS RATING
150+
DEDICATED TEAM AGENTS
100+
WEEKLY APPLICATIONS
REVIEWS
We are very popular. Don’t believe us? Just read what our clients are saying!
JULIA F.
Orlando, FL
I couldn’t be happier with DMI. Their team work so well together. The process
was smooth and all the necessary paperwork was handled with the most dedication
be their team. The whole process was faster than I anticipated and they got the
results I was looking for. Very thankful to DMI for their excellent work.
MARK K.
Erie, PA
I was recommended to DMI by a dear friend of mine who just went through a home
refinancing process with them. I just started mine and I can already see why my
friend chose DMI. They are dedicated and jumped right into my process and got
started. I’m further along in my home refinance than I ever tough I would be at
this point.
THOMAS J.
Madison, WI
As a first time buyer I was very concerned about the whole process but DMI came
to my rescue and made everything easier. They explained the entire process and
my options and together we made the right decision to my situation. Now I’m
proud home owner thanks to DMI and they dedication and worketic.
DO YOU HAVE ANY QUESTION?
FEEL FREE TO CONTACT US ANYTIME.
1-855-456-9782
FREQUENTLY ASKED QUESTIONS
Here we have some answers for popular questions
When should I refinance?
It’s generally a good time to refinance with mortgage rates are 2% lower than
the current rate on your loan. It may be a viable option even if the interest
rate difference is only 1% or less. Any reduction can trim your monthly mortgage
payments. Example: Your payment, excluding taxes and insurance, would be about
$770 and a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment
would be $700, no you’re saving $70 per month. Your savings depends on your
income, budget, loan amount and interest rate changes. Your trusted lender can
help you calculate your options. Please note that by refinancing your existing
loan your total finance charges may be higher over the life of the loan.
Should I pay points to lower my interest rate?
Yes, if you plan to stay in the property for a least a few years. Paying
discount points to lower the loan’s interest rate is a good way to lower your
required monthly loan payment, and possibly increase the loan amount that you
can afford to borrow. However, if you plan to stay in the property for only a
year or two, your monthly savings may not be enough to recoup the cost of the
discount points that you paid up-front.
What does it mean to lock the interest rate?
Mortgage rates can change from the day you apply for a loan to the day you close
the transaction. If interest rates rise sharply during the application process
it can increase the borrower’s mortgage payment unexpectedly. Therefore, a
lender can allow the borrower to “lock-in” the loan’s interest rate guaranteeing
that rate for a specified time period, often 30-60 days, sometimes for a fee.
How is my credit judged by lenders?
Credit scoring is a system creditors use to help determine whether to give you
credit. Information about you and your credit experiences, such as your
bill-paying history, the number and type of accounts you have, late payments,
collection actions, outstanding debt, and the age of your accounts, is collected
from your credit application and your credit report. Using a statistical
program, creditors compare this information to the credit performance of
consumers with similar profiles. A credit scoring system awards points for each
factor that helps predict who is most likely to repay a debt. A total number of
points — a credit score — helps predict how creditworthy you are, that is, how
likely it is that you will repay a loan and make the payments when due.
What is an Appraisal?
An Appraisal is an estimate of a property’s fair market value. It’s a document
generally required (depending on the loan program) by a lender before loan
approval to ensure that the mortgage loan amount is not more than the value of
the property. The Appraisal is performed by an “Appraiser” typically a
state-licensed professional who is trained to render expert opinions concerning
property values, its location, amenities, and physical conditions.
What is 80-10-10 Financing?
A point is a percentage of the loan amount, or 1-point = 1% of the loan, so one
point on a $100,000 loan is $1,000. Points are costs that need to be paid to a
lender to get mortgage financing under specified terms. Discount points are fees
used to lower the interest rate on a mortgage loan by paying some of this
interest up-front. Lenders may refer to costs in terms of basic points in
hundredths of a percent, 100 basis points = 1 point, or 1% of the loan amount.
What is an APR?
The annual percentage rate (APR) is an interest rate reflecting the cost of a
mortgage as a yearly rate. This rate is likely to be higher than the stated note
rate or advertised rate on the mortgage, because it takes into account points
and other credit costs. The APR allows homebuyers to compare different types of
mortgages based on the annual cost for each loan. The APR is designed to measure
the “true cost of a loan.” It creates a level playing field for lenders. It
prevents lenders from advertising a low rate and hiding fees.
The APR does not affect your monthly payments. Your monthly payments are
strictly a function of the interest rate and the length of the loan.
Because APR calculations are effected by the various different fees charged by
lenders, a loan with a lower APR is not necessarily a better rate. The best way
to compare loans is to ask lenders to provide you with a good-faith estimate of
their costs on the same type of program (e.g. 30-year fixed) at the same
interest rate. You can then delete the fees that are independent of the loan
such as homeowners insurance, title fees, escrow fees, attorney fees, etc. Now
add up all the loan fees. The lender that has lower loan fees has a cheaper loan
than the lender with higher loan fees.
What are points?
A point is a percentage of the loan amount, or 1-point = 1% of the loan, so one
point on a $100,000 loan is $1,000. Points are costs that need to be paid to a
lender to get mortgage financing under specified terms. Discount points are fees
used to lower the interest rate on a mortgage loan by paying some of this
interest up-front. Lenders may refer to costs in terms of basic points in
hundredths of a percent, 100 basis points = 1 point, or 1% of the loan amount.
What happens at closing?
The property is officially transferred from the seller to you at “Closing” or
“Funding”.
At closing, the ownership of the property is officially transferred from the
seller to you. This may involve you, the seller, real estate agents, your
attorney, the lender’s attorney, title or escrow firm representatives, clerks,
secretaries, and other staff. You can have an attorney represent you if you
can’t attend the closing meeting, i.e., if you’re out-of-state. Closing can take
anywhere from 1-hour to several depending on contingency clauses in the purchase
offer, or any escrow accounts needing to be set up.
Most paperwork in closing or settlement is done by attorneys and real estate
professionals. You may or may not be involved in some of the closing activities;
it depends on who you are working with.
Prior to closing you should have a final inspection, or “walk-through” to insure
requested repairs were performed, and items agreed to remain with the house are
there such as drapes, lighting fixtures, etc.
In most states the settlement is completed by a title or escrow firm in which
you forward all materials and information plus the appropriate cashier’s checks
so the firm can make the necessary disbursement. Your representative will
deliver the check to the seller, and then give the keys to you.
What is a PMI (Private Mortgage Insurance)?
On a conventional mortgage, when your down payment is less than 20% of the
purchase price of the home mortgage lenders usually require you get Private
Mortgage Insurance (PMI) to protect them in case you default on your mortgage.
Sometimes you may need to pay up to 1-year’s worth of PMI premiums at closing
which can cost several hundred dollars. The best way to avoid this extra expense
is to make a 20% down payment, or ask about other loan program options.
What can I do to improve my credit score?
Credit scoring models are complex and often vary among creditors and for
different types of credit. If one factor changes, your score may change — but
improvement generally depends on how that factor relates to other factors
considered by the model. Only the creditor can explain what might improve your
score under the particular model used to evaluate your credit application.
Nevertheless, scoring models generally evaluate the following types of
information in your credit report:
Have you paid your bills on time? Payment history typically is a significant
factor. It is likely that your score will be affected negatively if you have
paid bills late, had an account referred to collections, or declared bankruptcy,
if that history is reflected on your credit report.
What is your outstanding debt? Many scoring models evaluate the amount of debt
you have compared to your credit limits. If the amount you owe is close to your
credit limit, that is likely to have a negative effect on your score.
How long is your credit history? Generally, models consider the length of your
credit track record. An insufficient credit history may have an effect on your
score, but that can be offset by other factors, such as timely payments and low
balances.
Have you applied for new credit recently? Many scoring models consider whether
you have applied for credit recently by looking at “inquiries” on your credit
report when you apply for credit. If you have applied for too many new accounts
recently, that may negatively affect your score. However, not all inquiries are
counted. Inquiries by creditors who are monitoring your account or looking at
credit reports to make “prescreened” credit offers are not counted.
How many and what types of credit accounts do you have? Although it is generally
good to have established credit accounts, too many credit card accounts may have
a negative effect on your score. In addition, many models consider the type of
credit accounts you have. For example, under some scoring models, loans from
finance companies may negatively affect your credit score.
Scoring models may be based on more than just information in your credit report.
For example, the model may consider information from your credit application as
well: your job or occupation, length of employment, or whether you own a home.
To improve your credit score under most models, concentrate on paying your bills
on time, paying down outstanding balances, and not taking on new debt. It’s
likely to take some time to improve your score significantly.
What documents do I need to prepare for my loan?
Below is a list of documents that are required when you apply for a mortgage.
However, every situation is unique and you may be required to provide additional
documentation. So, if you are asked for more information, be cooperative and
provide the information requested as soon as possible. It will help speed up the
application process.
Your Property
Copy of signed sales contract including all riders
Verification of the deposit you placed on the home
Names, addresses and telephone numbers of all realtors, builders, insurance
agents and attorneys involved
Copy of Listing Sheet and legal description if available (if the property is a
condominium please provide condominium declaration, by-laws and most recent
budget)
Your Income
Copies of your pay-stubs for the most recent 30-day period and year-to-date
Copies of your W-2 forms for the past two years
Names and addresses of all employers for the last two years
Letter explaining any gaps in employment in the past 2 years
Work visa or green card (copy front & back)
If self-employed or receive commission or bonus, interest/dividends, or rental
income:
Provide full tax returns for the last two years PLUS year-to-date Profit and
Loss statement (please provide complete tax return including attached schedules
and statements. If you have filed an extension, please supply a copy of the
extension.)
K-1’s for all partnerships and S-Corporations for the last two years (please
double-check your return. Most K-1’s are not attached to the 1040.)
Completed and signed Federal Partnership (1065) and/or Corporate Income Tax
Returns (1120) including all schedules, statements and addenda for the last two
years. (Required only if your ownership position is 25% or greater.)
If you will use Alimony or Child Support to qualify:
Provide divorce decree/court order stating amount, as well as, proof of receipt
of funds for last year
If you receive Social Security income, Disability or VA benefits:
Provide award letter from agency or organization
Source of Funds and Down Payment
Sale of your existing home – provide a copy of the signed sales contract on your
current residence and statement or listing agreement if unsold (at closing, you
must also provide a settlement/Closing Statement)
Savings, checking or money market funds – provide copies of bank statements for
the last 3 months
Stocks and bonds – provide copies of your statement from your broker or copies
of certificates
Gifts – If part of your cash to close, provide Gift Affidavit and proof of
receipt of funds
Based on information appearing on your application and/or your credit report,
you may be required to submit additional documentation
Debt or Obligations
Prepare a list of all names, addresses, account numbers, balances, and monthly
payments for all current debts with copies of the last three monthly statements
Include all names, addresses, account numbers, balances, and monthly payments
for mortgage holders and/or landlords for the last two years
If you are paying alimony or child support, include marital settlement/court
order stating the terms of the obligation
Check to cover Application Fee(s)
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