I wanted to learn what makes The Mortgage Network of Ohio Inc among the best mortgage brokers in Ohio so I did an interview with their head man, Jeff Steinacker who has been doing mortgages since 1979.
How are you, a mortgage broker different from the local banker or credit union loan officer? Much like an independent insurance broker we shop for the best possible company to meet your lending needs, for a purchase or refinance of your home mortgage, we shop and compare mortgage rates and closing cost options to make sure you get the best possible deal in the ever changing mortgage market.
Who would be your ideal client? Someone who is purchasing a home, from a first time home buyer or a seasoned purchaser and those who are looking to refinance their existing home mortgage for a variety of reasons, reduce the interest rate, increase or decreases the loan term, to get cash out for bill consolidation, home improvements or college or any other major purchase item
What types of loans do you offer your clients? Fixed-rate mortgage that keep the same annual percentage rate (APR) through the life of the loan. An adjustable-rate mortgage, on the other hand, has an interest rate that will adjust periodically in the life of the loan. This type of mortgage is good for homebuyers that plan to live in their homes for only a set number of years. VA Loans are for veterans of our Armed Services and if eligible have zero down payment option. Rural Housing loans are available for certain pockets in the Tristate area that the government has deemed under populated…which is also 100% financing. The FHA loan is a government insured loan and it requires a 3.5% down payment of the purchase price. There are variations of this program that offer First time home buyers may have a grant option of 2.5% and even a special program called the HERO’s program which offers a reduced rate! Reverse Mortgage for seniors over age 62 for purchasing or refinancing. Jumbo Loans for those loan amounts over $417,000. The Harp 2 program for home owners who are underwater (owe more on their mortgages than their homes value) is available. There are so many options, please call us The Mortgage Network to discuss and plan which option is best for you!
Do you work just in the Cincinnati area? No we are licensed and service the entire states of Ohio, Indiana and Kentucky. We have appraisers and closers in your area!
What do your clients say separates you from a National Lending Companies or Banks? At The Mortgage Network of Ohio Inc., we believe that you should have more than one option on a Mortgage. We will take your application, work every possible scenario, and then offer you options of loan programs available to meet your needs. Then we will arrange for the processing and closing to meet your busy schedule, we’ll even come to you for in home/office consultation and closing! Our customer service can’t be beat! Our objective is to maximize the profitability of the homeowner’s experience by eliminating the hassle of shopping. We are committed to the education of our customers and we care about getting you the best deal out there.
You say that you offer more products/services than the individual banks how is that? Each bank can set their own credit score limits and what they call credit overlays, meaning they can eliminate you for a reason that another bank won’t, they want to lend on based on its tolerance for additional risk...many will not talk to a client until they have a score of a 640+. Our programs start for those with a 580. Since we can shop for you over 25 different lenders, which is hundreds of programs we are research for you to insure you are getting the best rate and terms.
That seems like a lot a clients who would otherwise be left out of either purchasing a home or refinancing their current loan to today's low mortgage interest rates, tell me more about these credit scores. As mentioned a clients credit scores are a determined by a computer module for each of the three credit agencies based on how much current and paid credit history, how much available credit that one has access to and the measurement of frequency of use and any delinquency. We at The Mortgage Network of Ohio Inc will consol clients on how to raise their credit scores, and in doing so they are eligible to receive a better interest rate from the Lender, regardless if you have a score in the 500's or 700's, the higher the score the better the terms can be!
Tell us about you Jeff Steinacker? Me...I am just one who has been doing mortgages for others since 1979 and want to be able to serve my clients. If you are looking for one of the most solid ways to improve your financials with no risk, call me, Jeff Steinacker today @ 513 346 4070 x10 or 888 393 8784 x10 to lock in your historically low rate!
The Mortgage Network of Ohio Inc was incorporated September, 1999 under the state of Ohio. They are a Licensed Mortgage Lender for properties located in Ohio, Indiana, and Kentucky.
At The Mortgage Network of Ohio Inc., we believe that You should have more than one option on a Mortgage.We will take your application, work every possible scenario, then offer you options of loan programs available to meet your needs. Then we will arrange for the processing and closing to meet your busy schedule, we’ll even come to you for in home/office consultation and closing! Our customer service can’t be beat! Our objective is to maximize the profitability of the homeowner’s experience by eliminating the hassle of shopping.
We are a company commited to the education of our customers. Please check out The Mortgage Network of Ohio’s blog here where we talk about what’s going on in the world of real estate financing, and clear up some of, what can be a confusing process.www.TheMortgageNet.blogspot.com
The Mortgage Network of Ohio Inc.
8945 Brookside Ave Suite 201
West Chester, Oh 45069
Toll Free: 888-393-8784 ext. 10