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5 Questions to Ask your Bank BEFORE applying for a mortgage

September 9th, 2018 by Ima Admin

Make sure to ask your bank these 5 questions before applying for a mortgage.  We know the many great services they offer, but we specialize ONLY in mortgages, which gives you an upper hand.

#1: Will I be pre-approved or pre-qualified?

As we’ve stated in this previous article, being pre-approved and pre-qualified are two different things and the latter doesn’t have any value when the rubber hits the road. The purpose of a pre-qualification is to give a general idea of what to expect, but nothing is concrete until the more in-depth analysis of the pre-approval process. At Inlanta, we do a lot of the legwork during this step to give you more buying power when it comes time to make an offer.

#2: What does your loan process look like from beginning to end?

Since we are doing an in-depth analysis of your financials upfront the loan process moves smoother and quicker.  With your income and assets evaluated from the beginning we are able to streamline the mortgage process and get your loan into our processor right away and on to underwriting.  During the underwriting stage you will most likely be requested for a few clarifying documents to complete the process.  The underwriter may also request some updates to the appraisal report and purchase agreement.  This is done just to make sure everything matches exactly.

You are looking for a mortgage loan process that is smooth and flows cohesively.  Many times the person you originally speak to has no control on what the process looks like or what is happening.  That can be frustrating for all involved.

Learn More About Inlanta’s Loan Process

#3: How long does it take to close my loan?

This is a much bigger question than it appears.  We will start of with the standard answer; most mortgage transactions take 30-45 days.  There are an overwhelming number of variables that can cut this time frame down to 10 days but also as many that could extend the loan to more than 45 days.

Generally speaking, Inlanta closes mortgage transactions in 20 days.  The reason why we are able to close faster is because of our upfront work to truly pre-approve our clients as well as Inlanta’s commitment to work off of your purchase contract date.  We will try to do what is needed to get you to the closing table on your agreed upon date.  This does take your cooperation to provide all the documentation and paperwork that is requested by the deadlines given to keep everything on track.

#4: Do you use an appraisal management company?

This seems like a small detail in the grand scheme of things, but it’s an important question to ask.  All appraisals are not created equal.  An appraisal management company is a third party who has a large number of appraisers signed up to work for them as contractors to insure they are not unduly influenced by the mortgage lender.  These appraisers have to do more appraisals to earn the same amount of money and many times will accept orders outside of their area of familiarity.

There is an additional option to have a separate internal appraisal desk that manages the ordering of appraisals to ensure the appraisers are local and complete a thorough report. The biggest benefit of using a local appraiser rather than an outsourced one is that he or she will have first-hand knowledge about the area and neighborhood.  Additionally, the appraisers can be vetted more thoroughly.

If you want to get a better idea on what an appraisal management company is and how it came about; read this from NAR:  NAR Issue Brief: Appraisal Management Company Q&A

#5: How and when will I be communicated with?

You will be communicated with every step of the way. The mortgage process is complicated, but having all parties involved work together as a team will keep it from being difficult. Keeping everyone in the loop, whether it’s by phone, email, or text, is key to achieving this, and rest assured that Inlanta Mortgage Grand Rapids will do our part to make sure everyone involved is on the same page.

 

Already have a pre-approval?  Take a minute to check your quote.



3 Tips for Choosing the Right REALTOR and Best Mortgage Lender

August 16th, 2018 by Inlanta Staff

Purchasing a home is one of the largest financial decisions of most people’s lives.  When the right REALTOR and Best Mortgage Lender are chosen the process becomes much smoother and you experience a “dream team”.  This team will be one you can trust with not only your financial information but more importantly, they will educate and guide you through the ins and outs of the home buying process.

The mission of the Inlanta Mortgage is to be the Best Mortgage Lender that you trust to not only take care of your home financing but also your family, friends, and community.  Our Ada, MI team prides themselves on being well connected with many REALTORs across Michigan to provide seamless service to all involved.

When choosing your “Dream Team” consider the following 3 Tips:

  1. Experience is invaluable, but not everything.  You want to have a team that works with you as much as for you.  Choose a team that is real and that you can relate to.  You will be spending quite a bit of time with your REALTOR and your Mortgage Lender must be relatable with your best interest at heart.
  2. Passion will make the difference.  Passion for not only real estate, but also you as their client can be the difference between your transaction being successful or not.  You want your REALTOR to tell you honestly what their professional opinion is with your long-term goals top of mind.  Furthermore, you want a Mortgage Lender that will go out of their way to assist in getting your offer accepted and communicate consistently with all parties.  You want to hear the passion in their voices!
  3.  Support makes for a seamless process.  Everyone will tell you that there is nothing simple about buying a home.  Once you find the perfect house and get your offer accepted, it will feel like the mortgage company wants everything short of a blood test 🙂 But, if you are working with a REALTOR and Mortgage Lender who have adequate support and knowledge the process can move along without anyone missing a beat.  In the best situation, each member is focused on what they do best and control of your transaction is in the hands of your Loan Originator to ensure you close on time without issues.

Let us Help You Put Together Your Dream Team.  Who can we connect you with?


 REALTOR to Purchase a Home REALTOR to Sell my Home Insurance Agent Financial Advisor

 


Tax Time Down Payment

February 5th, 2018 by Inlanta Staff

Should you be using your Tax Refund for your Down Payment on a new Home?

In preparation for purchasing a home saving for the down payment can be the most challenging piece to the puzzle. Typically there is some sort of down payment or out of pocket expense for the home buyer. The average down payment is 3.5% – 5% of the purchase price of the home.  This makes tax time the perfect opportunity to maximize available funds for the down payment on a new home.

An IRS tax refund is a great, acceptable source for a down payment on a new home.  Even a small refund may be enough to provide you with an ideal amount toward a down payment.  The first step would be to begin the mortgage pre-approval process by either applying online, downloading our phone app to apply or simply give us a call: (616) 918-6564.  You can begin with the pre-approval right away, even before your tax return has been filed.

Being pre-approved will give you the insight to how much home you can afford as well as how much of a down payment will be required based on the best mortgage product for you.  There is not a “one-size fits all” solution, your personal situation must be taken in to account to be provided with the most suitable options.

Yes, NOW is the best time to use your Tax Refund towards a Down Payment.

Monthly mortgage payments can cost less than renting an apartment or house and your payments, as well as any improvements to the home, are building your equity, not your landlord’s.  More importantly, it is ideal to purchase a home now because there is less competition, sellers are motivated to sell, interest rates are still low (though interest rates are projected to increase throughout the year) and you can close quickly, before the spring market.


Inlanta Mortgage – #1 Independent Mortgage Broker in WI

January 18th, 2018 by Ima Admin

number 1 mortgage lender grand rapids mi depicted by charts and world

The Inlanta Grand Rapids Mortgage team is proud to share the news that its parent company, Inlanta Mortgage WI, has been named the #1 Independent Mortgage broker in Wisconsin, where the company is headquartered.

“Our team is delighted to celebrate Inlanta’s 25th Anniversary with the news that our parent company closed the highest number of loans in its home state,” said Grand Rapids Inlanta Mortgage branch manager Jonathan Arnold. “The news comes amidst our local growth in the Grand Rapids market as a premier independent mortgage company. It’s my personal mission to become the go-to lender for Michiganders.”

As an independent mortgage banker, Inlanta offers a larger variety of loan options such as VA, USDA, and FHA, than is typically offered by most lenders. The Grand Rapids Inlanta team is also able to serve the entire state of Michigan, including underserved rural markets whereas many lenders only focus on the larger loan amounts in bigger metro areas.

About Inlanta Mortgage

Headquartered in Pewaukee, WI, Inlanta Mortgage was established in 1993. The company has grown to over 40 branches in 20 states and over 250 employees. Inlanta Mortgage’s mission is to be the home financing partner that you trust to serve your family, friends, and community. Their team of dedicated mortgage professionals is committed to delivering an exceptional experience using honest and ethical lending practices.
Inlanta Mortgage was named a Milwaukee Journal Sentinel Top Workplace in 2014, 2015, and 2016. Inlanta has been consistently recognized as one of the “50 Best Mortgage Companies to Work For” by Mortgage Executive Magazine and one of the country’s “Top Mortgage Employers” by National Mortgage Professional.

Grand Rapids Mortgage Branch

Locally, Inlanta branch manager Jonathan Arnold has been recognized as a “Rising Star” by the Michigan Mortgage Lenders Association and was named top producer of all Inlanta branches for the third year in a row last year. Arnold’s teammate, Katrina Cole, was also acknowledged as a “40 Under 40” to watch by the MMLA, for which she serves as President of the West Chapter. Arnold is regularly called upon to share his expertise in the Grand Rapids residential real estate market for investors and homeowners who want to navigate the burgeoning real estate market.

For a jump on the spring market, download this Grand Rapids Real Estate Buyers Guide:

Get the 5 Secrets to Winning in a Tight Real Estate Market

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5 Reasons You Should Purchase Your Home Over the Holidays

November 13th, 2017 by Inlanta Staff

1. Less Competition

The holidays are a busy time and combine that with the ever-changing cool Michigan weather and you will find less Real Estate transactions taking place.  The advantage of fewer people shopping for a home is less competition and multiple offer situations.  For an upper hand make sure to get a copy of Inlanta’s 5 Secrets to Winning in a Tight Real Estate Market.

 

2. Sellers Are Motivated

People who are selling their home during the holidays tend to be more motivated.  If the home has been on the market for some time prior to the holidays they may be even more eager to sell.  Use this urgency to your advantage to negotiate a fair offer with the sellers.

3. Interest Rates

Interest Rates remain low making owning your dream home more affordable than rent! Interest rates fluctuate daily and long-term projections are mixed, so it is best to take advantage of these rates now. To give you an idea, on average a one percentage point increase in interest rates can reduce your overall purchasing power by eleven percent.  Make sure you know all your mortgage options and how to choose the best mortgage.

4. Streamline Closings

With the end of the year in sight, everyone is looking to get things wrapped up quickly. There are fewer transactions during the holidays leaving a perfect window of opportunity to close on your purchase as soon as possible.  The mortgage process does not have to be complicated; take a look at our 10 Step Guide to the Mortgage Process.

5. Potential Tax Advantages

At this time if you itemize your taxes you may be able to deduct points, property tax, and mortgage interest. This advantage varies depending upon any other deductions you may have for the year. As you may know, there are many discussions on tax changes that may be coming, so we always advise that you consult with a tax professional to know how a home purchase can benefit you.

So what does all this really mean to you?

If you are looking to purchase a home over the holidays the homes that are for sale have motivated sellers, there are fewer buyers to compete with, interest rates are still great and you should be able to close your loan quickly; potentially with tax advantages.  So what are you waiting for?  Get Started Today


Get the Guide: Know the Score on Your Credit Score

June 27th, 2017 by Ima Admin

It’s one thing to know your numbers. It’s another to know what those numbers mean. Inlanta Mortgage Grand Rapids has just published a handy guide, “Understanding Your Credit Score,” to help consumers learn the ins-and-outs of credit scores and the impact on mortgage rates and program eligibility.

“Credit reporting is counter-intuitive. Often, it’s the solid, steady folks who are shocked to learn that while they may have managed their money admirably, their credit scores are quite a bit lower than they could be, and therefore their interest rates may be higher,” says Jonathan Arnold, Branch Manager of Inlanta Grand Rapids.

“Nine out of every 10 people we talk to can save tens of thousands of dollars in interest if they talk to us the moment the notion to buy, sell or refinance occurs to them. It’s important, and the sooner they see us, the faster we can help them boost their scores.”

Some of the Questions Answered In This Credit Guide:

  • Do lenders weight your credit report elements differently?
  • What scores are needed for each mortgage type?
  • How do government-backed lenders use credit scores?
  • How do student loans affect scores?
  • How should I prepare for a mortgage?
  • What are the “D0s & Don’ts” when a mortgage application is in process?

Follow this link to read the article and download a free PDF. Then talk to us to get advice to get the best mortgage rate with the best loan program for your unique circumstances.


Jonathan Arnold: Meet The Mind Behind The Mortgage Model

May 4th, 2017 by Ima Admin
Jonathan_MMLARisingStar-edit

Jonathan Arnold (Left) of Inlanta Mortgage Grand Rapids received the Michigan Mortgage Lender Association’s (MMLA) Rising Star award.

How do you turn the experience of buying a first home into a lesson in leverage and the power of investment? According to Jonathan Arnold, you teach your buyers to fish.

“I want to help people invest in real estate and build security. I am passionate about empowering people with information,” Arnold said. “Our industry has not always been as transparent with consumers as I’d like.”

Arnold is the Grand Rapids branch manager for Inlanta Mortgage, specialists in FHA and VA home loans, as well as Conventional, Home Renovation, and a full lineup of innovative mortgage products. He was recently fêted by the Michigan Mortgage Lender Association as a Rising Star during a ceremony held May 2nd.

How Arnold is Disrupting the Mortgage Industry

Considered by many in the industry to be a maverick in his approach to team-building, Arnold modestly shrugs off the accolades but becomes animated when discussing the root of his twin passions: changing the way that mortgages are processed by ‘pairing the talent to the task,’ and devoting resources to educate his clients.

His results have put his team in the top of Inlanta Branches for the third year in a row. That’s because his team produces almost three times the volume of the industry average. At the same time, the team devotes more time to the client experience and education.

“The difference is we really do treat our people like students and want them to learn. By educating our clients, they end up buying investment properties. They end up buying second homes. They end up doing well. It’s helping someone understand the philosophy of investing in real estate,” Arnold said.

Some might call these results magic. To Arnold, who was tracking mutual funds by the age of 8, it’s just math: incremental adjustments that net exponential results. The challenge was to find the right environment to put his innovative impulses to the test. In the early days, that proved a challenge.

Early Adventures On The Way to Leadership

Michigan Mortgage Lender Association Rising Star AwardAs a child, Arnold was easily bored, and folks marveled at just how much action he could pack into a day. For a time, it seemed he might follow his father’s footsteps in the finance industry, given his facility with numbers. But his path to the mortgage industry was anything but a straight shot; teen rebellion scuttled an early start.

“I’ve learned a lot in life, often the hard way. But my experiences are where I’ve forged my passion for helping my clients build a solid foundation. I know how important it is. You need solid ground under you to weather the storms,” Arnold says.

Arnold is no stranger to hard labor. One of his early full-time jobs after a stint in the service industry was running utility cable for an electrical company on a Kent County Airport project. He and summer college interns from across the state carried giant bundles of heavy cables down through foul subterranean tunnels under the runway. The 75-hour work week and the back-breaking nature of the work prompted Arnold to realize he enjoyed interacting with people more than cables and tunnels.

In a characteristically strategic move, he determined he’d rather work in automotive sales, where he sensed his potential as a high-volume producer. He networked his way into a large local dealership and began breaking sales records. After a time, he realized that while he enjoyed helping consumers navigate options, he could have a much bigger impact in the mortgage market. There, the deals were complicated and good stewardship and advice could make a lasting difference in someone’s life. Arnold loved a challenge, and loved crunching the numbers. It was his version of Sudoku. Before long, he joined a consumer mortgage company and began to build his model for success.

Learning to Think Outside the Bank

“What I realized early on in my finance career is that inside of a corporate structure, there are always people who embrace the status quo instead of looking deeply at what they’re doing and why they’re doing it. People fear or resist change. They don’t ‘think outside the bank. Before I discovered Inlanta, with its inspirational leadership, I needed autonomy in the firm I was with, and the ability to build my own team on my own model,” he said.

In those days, Arnold’s burgeoning model resulted in a small, highly skilled team doing business differently than the rest of the company. Referral networking was key, but not just through the traditional channel of realtors. Arnold instead focused on building a core of divorce attorneys, chartered accountants, estate planners and other professionals in key advisory roles. The result was a department that grew organically at a time when the industry was imploding.

“Our clients trusted us because we guided them in the right direction,” he said. “They wanted us to look after their clients, family members, investors, because they knew we’d do right by them.”

Focusing on advisory-type professions is an example of an incremental change that netted exponential benefit in Arnold’s business model.

Even more importantly, the emerging model lead him to realize the importance of matching the talent to the task. You don’t build those kinds of relationships stuck behind a desk.

“I don’t want a sprinter running cross-country. I don’t want a deep thinker pushing paperwork. I want people who are the best at each task focusing on the task they’re best at. The solution is support. Our system is better – that’s why we’re winning business.”

In the Mortgage Industry, Consumer Knowledge is Power

Today this approach is the foundation of the Grand Rapids Inlanta branch. Arnold’s Team originate significantly more mortgages each month than traditional mortgage offices. But they also have a much larger support staff working with them to ensure that every excruciating detail is managed and that client communication and education is paramount.

There’s an important reason Arnold advocates treating clients like students. Looking back on the industry’s unfortunate sub-prime era, he says many homeowners made choices that were misinformed, with disastrous results.

“If they’d have had the information, they probably would have made different decisions. Instead, I saw people in mortgages that were essentially spring-loaded traps, mortgages that impaired their ability to weather fluctuations in the economy. I love to help people get out of those traps. I love helping people make good decisions.”

Despite the flaws in the industry’s current patch-work of mortgage regulation and compliance — which Arnold feels should be streamlined to reduce consumer cost — the one important achievement that arose with increased regulation was better lending practices. His only wish was that these practices were delivered through a uniform, common sense model of governance.

“The simplicity of controlling predatory lending should be the basis of the regulatory climate. You shouldn’t give money to people who can’t repay the money…or on an instrument that is destined to explode,” he said. “It’s that simple.”

Who Motivates The Motivator?

Arnold ‘sharpens his saw’ with inspiration from the likes of Tim Ferris and Dale Carnegie, coupled with a habit of devouring business books such as Good to Great and The Power of Habit.

At closer range, he credits the Inlanta family and company president, Nick DelTorto, as being inspirational and instrumental to his continued strategic thinking. He also feels blessed to have the great counsel of the people around him, from his parents to his new wife Michelle, who works in immunology and volunteers for animal advocacy.

“She’s the love of my life,” Arnold said.

Together, they enjoy water sports, boating, and making the rounds to their children’s numerous sporting events. His daughter Bella, 13, loves to sing, swim, play volleyball and basketball. Jackson, age 10, likes to play basketball, lacrosse and football.

In addition to mentorship and family support, Arnold thrives on the energy of client success.

One of his favorite stories is the one about a client who referred her son to him. Arnold helped the son and his wife come up with a game plan to lower their monthly expenses and better manage student loan debts. This led to the couple being able to purchase a home. When they felt financially secure enough to start a family, they named their firstborn son in Jon’s honor.

One of the most rewarding elements of his leadership at Inlanta is helping his team aspire to excellence.

“I enjoy being a conduit to help my staff achieve their dreams,” he said. “When we help clients make great decisions, we’re working in a way that is genuine and we’re creating a better experience. As long as we can do these things, and are passionate about what we do, the sky’s the limit.”


Grand Rapids Inlanta Mortgage Team Scores Recognition Trifecta

April 4th, 2017 by Ima Admin

Thank You Grand Rapids for Choosing Inlanta MortgageTeamwork Takes Grand Rapids Mortgage Lenders to Next Level…

The Grand Rapids Inlanta Mortgage Team wants to give a big shout out to its customers across West Michigan for helping it rank in the top 10 nationwide, with the Jonathan Arnold Team winning top producer for the entire company for the third year in a row.

“This is truly a team effort,” said Jon Arnold, branch manager in Grand Rapids. “We executed the plan we had in place to create a great customer experience. It took a team effort, from managing deadlines to communicating the process to customers and ensuring we exceeded expectations. It’s something we’re really proud of and will always be striving for,” he said.

Jon is an active member of the Grand Rapids Association of Realtors,  the Michigan Mortgage Lenders Association, and the Women’s Council Realtors. He credits his community partners and the outstanding work of his teammates for the company’s continued trajectory. Most recently, Jon has received the “Rising Star” Award from the MMLA recognizing members in the industry who have excelled in their profession. 

Katrina Cole is “One to Watch”

Katrina Cole of Inlanta Mortgage, Grand Rapids MI as a 40 under 40Meanwhile, teammate Katrina Cole has added a personal triumph to the first two honors by being named one of the MMLA’s 40 under 40. She serves as VP of the West Chapter of the MMLA,  Co-Chair of Marketing on the West Michigan Chapter of the Women’s Council of Realtors, 2016 Strategic Partner of the year for West Michigan WCR, and the 2016 National Magazine Next 40 Mortgage Professionals to Watch.

Through these organizations, Katrina aims to foster a better understanding of the lending environment for realtors, and ultimately, a smoother transaction for clients by bridging any knowledge gaps between lenders and realtors. She’s been passionately involved in the WCR and the MMLA’s mission to attract young professionals and expand the exchange of information within the housing industry.

“I’m so proud but also humbled to be part of these types of organizations and recognized by so many great people in our industry. They’re always striving to be the best. They keep leading by example and getting more and more people involved in understanding what is best for our community as well as our industry as a whole,” Katrina said.

Cheers to Katrina for taking the Inlanta program to a new level of community involvement.

Backed by Inlanta Innovation

The team also credits the innovation of its parent company, Inlanta Mortgage, which continues to lead the field with innovative products like its 581-Score and No-Score programs. Headquartered in Brookfield, Wis., Inlanta Mortgage was established in 1993. The company has grown to 35 branches in 16 states and over 240 employees. Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as jumbo and portfolio programs. The company is an agency approved lender for Freddie Mac, Fannie Mae, FHA/VA, FHA 203K and USDA. Inlanta Mortgage also offers numerous state bond agency programs.


Get the Guide: 5 Secrets to Winning in a Tight Real Estate Market

March 13th, 2017 by Ima Admin

an image of the article written by Grand Rapids mortgage lender Jonathan Arnold on winning real estate bids
Jonathan Arnold, Branch Manager of Grand Rapids mortgage lender, Inlanta, has written the definitive guide to help prospective homeowners find their dream homes and win their bids in the most competitive real estate market in West Michigan history.

“It’s unbelievable. Even though the warm spell was followed by a cold snap, the real estate market isn’t waiting for March 21st to celebrate spring. We’re having our own March madness, and it’s not on the court,” Arnold said.

The region’s real estate market, ranked No. 4 in a recent survey of the nation’s hottest housing markets by Trulia.com, saw 13,593 single family homes exchange hands last year, a 3.7 percent increase over 2015. But the “hot” market also means a serious shortage of inventory that has would-be home-buyers scrambling to outbid the competition. Right now, the Grand Rapids Real Estate Association estimates that there is only 1.3 months of inventory and that there are fewer than 1,353 homes on the market year-to-date in Kent County.

If you’re ramping up to celebrate spring with a home-hunting fling, you’ll want expert help to get the jump on the competition. Follow this link to read and download his guide.


New – Inlanta Mortgage offers Govt. Loan Options for Credit Scores as low as 581 & No Score Option

February 21st, 2017 by Ima Admin

Family in new home to depict Inlanta Mortgage Grand Rapids new low score program for government-backed mortgages

Grand Rapids mortgage lender, Inlanta, has new ways to help FHA, VA, and USDA home buyers qualify for government-backed loan programs, even if they have less-than-perfect credit, or in some cases, no credit rating.

“We know that people are more than their credit score,” said Jonathan Arnold, a branch manager and loan originator with Inlanta. “There are people who have never missed a payment, but come in with 581 credit scores. Meanwhile, there are people finishing up bankruptcies that have a score of 650. Sometimes the credit score just doesn’t tell the whole story.”

The new program, unique to Inlanta, allows for eligibility with scores as low as 581 — about 60 points lower than most other banks and lenders. But the lower threshold doesn’t mean automatic approval or imply subprime loan status.

“This is a 30-year fixed government-secured mortgage. It is designed to help people whose credit score may not tell their whole story – the people who’ve fallen through the cracks but truly deserve a home loan,” Arnold said.

For example, Arnold was recently able to assist a veteran who was earning a middle-class income and had a lower credit score simply because he doesn’t borrow money or use credit cards.

Low Credit Score Triggers Manual Underwriting

One of the reasons Inlanta is able to offer consideration to people with lower credit scores is because the company is willing to undertake manual underwriting, which is looked at more closely. For example, it’s critical that there are no outstanding, unpaid, non-medical collections, and that debt ratios are within guidelines. Careful consideration of all factors leads to better odds of approval.

“The government products are overlaid by investors risk tolerances. We want to make good loans. Our experience shows that it’s very possible to make a good loan to people who on the surface might otherwise look unqualified. People shouldn’t be punished for avoiding debt,” Arnold says.

Can You Qualify For a Mortgage With No Credit Score?

Young people who’ve never had credit and new immigrants are two groups of people who assume that home ownership eludes them until they establish credit. Yet owning a home is one of the safest, fastest ways to build financial security. One way to quickly developing a credit score is to get a non-secured credit card. But there are other ways to help turn the dream of home ownership into reality. With Inlanta’s new, government-backed No Score program for FHA, VA and USDA candidates, the company will qualify borrowers using non-traditional lines of credit, such as Insurance Premiums, Cellphone Bill, Rent History, and Utilities (water, internet, electricity).

“We’re happy to be able to help qualifying individuals achieve the dream of home ownership with this product,” Arnold says. “Owning a home is the best investment you can make.”

For the No Score program, applicants must be otherwise eligible for FHA, VA or USDA government-backed programs, borrowers must meet all qualifying criteria, including debt-to-income ratios. Pricing will be affected and may mean higher cost to the borrower. This program is not to overcome bad or delinquent credit history.

*VA loans are available for eligible veterans only. **Income and property restrictions apply on USDA loans.

Contact Us For Complete Details on Government-Backed Loan Options:

Get Information on the 581 or No Score Programs

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Quick Facts on USDA, VA & FHA  Programs & Eligibility

USDA: Rural Home Loans/Mortgages

Score581_USDA_160x94
  • No down payment required
  • closing costs can be financed into loan
  • 30-year loan at fixed rate
  • must buy home in USDA eligible area: town population under 20,000
  • flexible credit history requirements
  • first-time home buyers eligible

*property and income restrictions apply

VA: Veterans Administration Home Loans/Mortgages

Score581_VA_160x94
  • no down payment
  • no private mortgage insurance
  • cash reserves not required
  • closing costs and prepaid expenses can be paid by seller
  • streamline refinance available

*program available to veterans only

FHA: Federal Housing Authority Home Loans/Mortgages

Score581_FHA_160x94
  • low down payment
  • gift funds allowed
  • cash reserves not required
  • flexible credit history requirements
  • closing costs can be paid by seller
  • flexible debt-to-income ratios
  • streamline refinance available