NFM Lending Reviews

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 including conventional, government-backed, refinance, jumbo and non-QM.

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To get started with NFM Lending, you’ll first choose the type of loan you want. If you’re unsure, an NFM Mortgage Loan Originator can help you decide. After coming to a decision, you can apply through NFM’s online application.

The application will request names, Social Security numbers, monthly incomes of each 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.

If you’re initially approved, the loan processor will schedule an appraisal, order a title search and send the application to underwriting. The underwriter evaluates your credit report, debt-to-income ratio, capital and the loan-to-value (LTV) ratio to make sure you qualify. Once you’re officially approved, a closing date will be scheduled, and during closing, you’ll sign the final paperwork for your funds to be disbursed.

Loan Application Features

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 market competition.

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NFM Lending offers 10 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 term lengths 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 discloses minimal information about loan requirements for its loans, but does list some for its FHA and VA loans. To learn more about its requirements for other loans, you’ll have to reach out to a company representative.

• FHA Loan: Down payment as little as 3.5%, 660 minimum credit score, fixed-rate loans only.
• VA Loan: No down payment required, LTVs of up to 96.5%, no cash-out options available with a credit score of 660 or below.

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.