Countrywide was born over thirty years ago with one goal in mind: to make home ownership a reality for everyone. Today, Countrywide Financial Corporation is America’s Number One Home lender, according to Inside Mortgage Finance. They are headquartered in Calabasas, California, and serve the entire United States. They operate through many subsidiary companies, including Countrywide Home Loans, Inc., We House America, Land Safe, Countrywide Capital Markets, Countrywide Insurance Group, Countrywide Bank, and CFC International. Even though they have many different subsidiary businesses, all of Countrywide Financial Corporation’s businesses center around home mortgage lending.
Countrywide Lending Power
Countrywide Financial’s primary subsidiary is Countrywide Home Loans; their loan servicing portfolio currently exceeds one trillion dollars.
Countrywide’s business practices are centered around the principals of respect, ethics, and responsibility. One way they practice their business principals is through their Multicultural Markets initiative. The goals of this initiative are to increase the amount of loans they provide to African Americans, Asians, and Hispanics; to continue to diversify their workforce; and to increase Countrywide’s strong brand recognition.
Countrywide Mortgage Loan Options
Countrywide primarily offers Home Purchase Loans, Refinance Loans, and Home Equity Loans. There are three ways to apply for these loans: you can schedule a consultation with a home loan expert, call and complete an application via telephone, or apply online. If you choose to apply online, you can select the UpFront Approval option. The UpFront Approval Option is a written commitment from Countrywide Financial. It is a certificate that details the loan amount and payment plans you qualify for. UpFront Approval is better than a PreQualification because it provides a specific loan amount, not a ballpark figure. Thus, your UpFront Approval is beneficial when you are negotiating for your house, and it eliminates the possibility of last minute qualifying issues. Countrywide offers this as a free service, and you can obtain an UpFront Approval online or via telephone.
Countrywide offers Fixed Rate Loans and Adjustable Rate Mortgages for Refinance Mortgages. They offer the Fixed Rate Mortgage in terms of thirty, twenty-five, twenty, fifteen, and ten years for 95% of the home’s value. If you want a Fixed Rate Refinance Loan but don’t have much equity, consider the No Equity Option. This loan offers 100% of your home’s current value. The Adjustable Rate Refinance requires 5-10% equity in your home, and the rate can change either every six months, or every year. You can choose to start your Adjustable Rate Refinance with a fixed rate period of three, five, seven, or ten years.
Countrywide Financial complies with the Fair Housing Act of 1968.
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