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Prosperity Home Mortgage Named Among America’s Top 100 Mortgage Companies

Prosperity Home Mortgage, LLC, (Prosperity) has once again been 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 2017, and Prosperity has earned a position in the top 50 for the fourth year in a row.

“We are thrilled that Mortgage Executive Magazine named Prosperity as one of the leading mortgage companies in the country, and thank our exceptional team of professionals for enabling the company to achieve such an honor,” said Tim Wilson, CEO of Prosperity Home Mortgage. “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.”

Randy Krout, president of national sales at Prosperity, echoed Wilson’s thoughts. “It’s an honor to be ranked among the top mortgage companies in the country once again, and this award shows the wealth of knowledge, integrity and professionalism that our mortgage team brings to each transaction they do.” Krout said.

About Prosperity Home Mortgage, LLC

Prosperity Home Mortgage, LLC, 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 190 mortgage consultants. Prosperity Home Mortgage funded over 10,700 home loans with a loan volume of over $3 billion in 2017.  Prosperity currently operates in 12 states and Washington, D.C.

 

 

 

1. Ranking published in Mortgage Executive Magazine, Summer 2018 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, Florida, 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/)
©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


Prosperity Home Mortgage Ranked Among Top Mortgage Lenders in D.C. Area

We are delighted to share that Prosperity Home Mortgage, LLC (Prosperity) has been recognized by the Washington Business Journal as one of the top home mortgage lenders in the Washington, D.C., metro area. Prosperity earned 7th place on the publication’s annual list, which ranks companies within the region by their 2017 metro-area lending volume.

“It’s an incredible honor for our team at Prosperity to earn a position on the Washington Business Journal’s list of the top mortgage lenders,” said Tim Wilson, president and CEO of Prosperity. “I congratulate each member of our Prosperity team on their achievement and thank them for their support of the many homebuyers who work with our family of companies.” 

Randy Krout, president of national sales at Prosperity, shared Wilson’s excitement for the award. “Each member of our team works diligently to support the homebuyers who choose Prosperity as their lending partner, and we’re thrilled to have been recognized by the Washington Business Journal as one of the top lenders in the D.C. area,” said Krout. “The honor highlights our team’s wealth of knowledge, integrity and professionalism in supporting Prosperity’s mission, and it demonstrates our ability to deliver best-in-class service, exceptional support and competitive rates.”

Prosperity offers a wide range of mortgage products, including fixed and adjustable rate mortgages, and is represented by more than 190 mortgage consultants in offices across 13 states and Washington, D.C.  Click here to find a local mortgage consultant near you.

 

 

 

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, Florida, 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/)
©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


When interest rates rise, ask about an Assumable Mortgage.

 

What is an assumable mortgage?

An assumable mortgage is a loan that a buyer can take over from the seller of a home, often with little or no change in the loan’s terms, including the interest rate. After obtaining a lender’s approval, a qualified buyer agrees to make future payments as if they took out the original loan on the home.

What types of loans are assumable?

  • All government loans, such as FHA and VA loans
  • All conventional adjustable rate mortgage (ARM) loans
  • Some non-conforming ARM loans1

Advantages of an assumable mortgage:

  • If the seller’s interest rate is lower than the rate a buyer can obtain based on current market rates or credit history, the buyer may enjoy significant savings.
  • Fewer closing costs are associated with an assumable mortgage.
  • Because not all mortgages are assumable, a seller may also benefit by marketing this advantage when competing with other homes on the market.

Considerations of an assumable mortgage:

  • A buyer will be required to qualify for the terms of the existing loan in order to assume the mortgage.
  • If the sale price of the home is more than the mortgage amount remaining on the home, a buyer will need to pay for the difference at closing out-of-pocket.
  • Certain conditions will need to be met based on the existing loan type.

If you have questions about an assumable mortgage, please contact a mortgage consultant near you!

 

 

 

1. Ask your local mortgage consultant to discuss assumable non-conforming loan programs for which you may be eligible.

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, Florida, 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/)

©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


As interest rates have risen, much attention has been paid to the effect rising rates may have on the housing market.  While interest rates do play an important role in your monthly mortgage payment, they are not the only factor to consider.

If you’re planning to purchase a home this year, be sure to understand each of the components that make up a mortgage payment, which can help you determine a monthly payment with which you are comfortable.  Here are the parts of a mortgage payment:

Principal: The principal part of your monthly payment pays off the loan amount you initially borrowed to buy your home.

Interest: In return for providing the funds you need to buy a home, lenders charge monthly interest on the principal balance you owe.

Taxes: Property taxes may be collected by your lender on a monthly basis and held in an escrow account to be paid on your behalf as they come due. The good news is: property taxes are usually fully deductible at income tax time. Consult a tax advisor for details.

Homeowners Insurance: Homeowners insurance provides financial protection in the event of losses that are the result of fire, wind, natural disasters or other hazards. Most mortgage lenders require you to have a homeowners insurance policy and may also be collect these funds to hold in an escrow account to pay your insurance company.

Mortgage Insurance: Mortgage insurance protects the lender against financial loss if a customer fails to repay the loan.

  • FHA-insured loans require a mortgage insurance premium (MIP)
  • VA loans may require a funding fee
  • Conventional loans can be insured with private mortgage insurance (PMI)

If mortgage insurance is applicable to your loan, that part of your payment is forwarded to the agency providing the insurance.

If you have questions, our mortgage consultants are always available to help you understand the home loan process!  Please also check out our on-line resources such as our mortgage payment calculator or our house hunting checklist!

 

 

 

This table is only to be used as a guide and does not include all loan types or loan features. Not all loan types are available to all borrowers. Borrowers will be subject to qualification and must satisfy all underwriting requirements and conditions. Not all borrowers will qualify. Speak with your mortgage consultant and carefully consider each of your home financing options so you can determine the home loan that is right for you.

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, Florida, 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/)

©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


30 Prosperity Home Mortgage Consultants Recognized as Top in the U.S. by Mortgage Executive Magazine

We are pleased to share that Prosperity Home Mortgage, LLC, (Prosperity) has been recognized for its exceptional mortgage originators once again by Mortgage Executive Magazine.  In its Spring 2018 edition, the industry publication honored the Top 200 Mortgage Originators in America and the Top 1% of Mortgage Originators in America.  30 members of the Prosperity team were named to these exclusive lists.

“It’s quite an honor to see that so many of our mortgage originators were recognized as some of the top in the country by Mortgage Executive Magazine,” said Tim Wilson, CEO of Prosperity. “I’m proud of not only their hard work and achievements, but that of our entire sales organization. We’re committed to providing personalized and focused service to every client at Prosperity, and it’s because of that ongoing commitment that we remain among the top lenders in the nation.”

Three of Prosperity’s mortgage consultants ranked among the Top 200 Mortgage Originators in America by annual mortgage volume. Jody Eichenblatt, a senior mortgage consultant based in Alexandria, Virginia, was ranked No. 71 on the list. He closed 264 loans for a total volume of $116,257,039 in 2017. Jonathan Okun, a senior mortgage consultant based in Bethesda, Maryland, earned the No. 93 spot on the 2017 list with 208 closed loans and total volume of $103,326,636.  Thomas O’Keefe, branch manager of Prosperity’s office in Bethesda, Maryland, was ranked No. 144 with 183 closed loans and a total volume of $89,488,607 in 2017.

Additionally, 30 mortgage consultants with Prosperity have been named to Mortgage Executive Magazine’s list of the Top 1% of Mortgage Originators in America. To be eligible for the list, a loan originator had to personally produce at least $30 million in 2017. According to NMLS Mortgage Industry Report, there were more than 419,900 federally registered mortgage loan originators as of June 30, 2017. Below are the Prosperity members who were recognized:


Congratulations to each of our mortgage consultants on their success!

 

 

 

 

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, Florida, 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/)
©2018 Prosperity Home Mortgage, LLC. All Rights Reserved.


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