MidwestMortgage.com was set up to make getting a Home Loan or Refinancing an existing Mortgage Loan a quick and easy process, however it is neither a lender nor a broker.
Program Guidelines
Loan Terms
Amount:
$100,000 to $20,000,000
Maturities:
5 to 15 years
Amortization:
Maximum of 30 years
Interest Rates:
Fixed interest rates priced at a spread competitive over the comparable maturity U.S. Treasury Note. The spread will be determined by the relative credit quality of the loan.
Security:
First Mortgages (or Deeds of Trust) only
Personal Guarantees:
Program Dependent
Prepayment:
Flexible terms
Secondary Financing:
Flexible terms
Request for Submission:
A Midwest underwriter can determine suitability of the loan request by telephone.
Issuance of Application:
Midwest will either issue an Application or reject the loan request within two weeks of receiving a complete loan submission.
Site Inspection:
Within three weeks of receipt of the accepted Application and Application fee (if applicable).
Issuance of Commitment:
Within 30 days of receipt of accepted Application and Application fee.
Closing:
Within three weeks of Midwest's receipt of satisfactory third party reports not to exceed 90 days after Commitment acceptance.
