NFM Lending

NFM Lending Reviews

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Edited by: Matt Zane

About NFM Lending

NFM Lending (NMLS #2893) has been in business for over 26 years and is said to have helped over 168,600 homebuyers. NFM Lending utilizes an online application for all of its loans. NFM Lending is available in 49 states and D.C.

Pros
  • Available in 49 states and Washington, D.C.
  • 10 loan types to choose from
Cons
  • Limited loan information

What is NFM Lending?

NFM Lending is a mortgage lending company that can help its customers buy or refinance a home through the right financial solution for their situation. NFM Lending has been in business since 1998 and is said to have helped over 168,600 homebuyers.

It services 49 states and Washington, D.C. It doesn’t lend to residents in the state of New York. NFM Lending provides 10 different loan options to choose from.

NFM Lending application process

NFM Lending provides a step-by-step process for purchasing or refinancing a home:

Purchasing a home

  1. Get pre-qualified
  2. Find your house
  3. Choose your loan
  4. Apply for your home loan
  5. Processing and underwriting
  6. Closing

Refinancing a home

  1. Apply for a mortgage refinance
  2. Choose your loan
  3. Processing and underwriting
  4. Closing

Loan Application Features

NFM Lending rates

NFM Lending does not disclose its rates on its site. You’ll have to contact the company to obtain loan rate information. Loan rates are typically based on the buyer’s credit, loan term length, size of down payment, loan-to-value ratio, market conditions and mark competition.

NFM Lending loan types

NFM Lending offers ten loan types. If you’re unsure which loan best fits your situation, an NFM Lending Loan Originator can help you decide.

  • Conventional loan
  • FHA loans
  • VA loans
  • USDA loans
  • JUMBO loans
  • Fixed-rate mortgage loan
  • Adjustable rate mortgage
  • Renovation loan
  • Non-QM home loans
  • All In One Loan

Although length terms for each loan aren’t specified on NFM Lending’s site, common term lengths can range from 15 to 30 years. Short-term loans typically have higher monthly payments with a lower interest rate, while long-term loans may have lower monthly payments but a higher interest rate.

NFM Lending requirements

NFM Lending discloses minimal information about loan requirements for its FHA Loans and VA Loans. To learn more about its requirements for other loans, you’ll have to reach out to a company representative.

  • FHA Loan: 660 minimum credit score, fixed-rate loans only.
  • VA Loan: No cash-out options available with a credit score of 660 or below.

NFM Lending cost and fees

NFM Lending does not disclose its costs and fees on its site, so you’ll have to reach out to a company representative. However, it does share expected costs that are tied to buying a house.

NFM Lending does share several costs to note before purchasing a home. It says that you should expect to pay an appraisal fee ($250 to $400), title service (average of $1,000), lender’s origination fee (percentage of total loan obtained) and home inspection ($300 to $500). Prices may vary depending on your situation.

NFM Lending FAQ

How does NFM Lending work?

To get started with NFM Lending when buying a house, you’ll first want to choose the type of loan you’re applying for. If you’re unsure, an NFM Mortgage Loan Originator can help you decide which loan would be most beneficial for you.

After coming to a decision, you can apply for a loan through NFM Lending’s online application. The application will request names, social security numbers, the monthly incomes of every applicant, property address and the estimated value of the property.

Once you’ve submitted an application, a mortgage loan originator will submit it for processing. The loan processor will schedule an appraiser, order a title search and send the application to underwriting.

The underwriter will evaluate your application to make sure everything is in order and if you qualify for the loan. The underwriter will take into consideration your credit report, debt-to-income ratio, capital and the value of the property in comparison to your loan amount.

If the underwriter approves the application, a closing date will be scheduled. During the time of closing, you’ll be asked to sign the final paperwork for your funds to be disbursed.

Is NFM Lending legit?

Yes, NFM Lending is a legitimate mortgage lending company. It has been in business since 1998 and is said to have helped over 168,600 customers.

Where is NFM Lending available?

NFM Lending is available in 49 states and Washington, D.C. NFM Lending is not available to the state of New York.

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NFM Lending Company Information

Company Name:
NFM Lending
Address:
1190 Winterson Road, Ste. 300
City:
Linthicum
State/Province:
MD
Postal Code:
21090
Country:
United States
Website:
nfmlending.com