Iowa City, IA – Residential Mortgage Network, Inc. is a mortgage bank that fully underwrites all of its loans in-house to reduce wait periods and also to improve client experience as they go through the process of homeownership. The mortgage lender has been locally owned since 1987 and has used their experience and expertise to tailor the services offered to the borrowers of Iowa City and surrounding areas. As a mortgage bank that provides home loans to borrowers across the State of Iowa, Residential Mortgage Network, Inc. takes pride in its crop of experienced and passionate loan officers. Each loan officer at the mortgage bank is committed to providing excellent solutions in the form of home loan programs and customer service.
Residential Mortgage Network, Inc. originates all kinds of loans including conventional, FHA, USDA and VA loans to clients based on their specific needs. Having designed a streamlined approach to loan processing, applicants can expect a fast turnaround time and reduced waiting period. The Mortgage lender offers an average of less than 4 weeks turnaround process from the time of application completion to loan approval.
Named one of the top producing USDA rural development home loan providers within the region served, Residential Mortgage Network, Inc. offers USDA home loans that are focused on growing local communities with a population that is less than 20,000 residents. The USDA home loan from Residential Mortgage Network, Inc. is available to residents across all the 99 counties in Iowa including cities such as Tiffin, North Liberty, Solon, Swisher, Williamsburg, and Newton. With the USDA home loan, applicants enjoy zero down payment and typically lower interest rates compared to conventional loans.
Residential Mortgage Network, Inc. mortgage lenders also offer VA loans to active duty members and veterans who have served at least 2 years or those who have served no less than 6 years in the National Guard or Reserves. Veterans are also eligible to take advantage of this loan program that requires no down payment and offers lower interest payments compared to conventional loans. With VA loans, applicants can also enjoy zero monthly mortgage insurance.
Applicants in search of conventional loans can enjoy as low as 3% down payment with a monthly Private Mortgage Insurance (PMI) for all payments less than 20% of the home value. PMI can be paid in a lump sum and drops off as soon as the borrower reaches 80% loan-to-value. There is also an option of FHA loans which requires a 3.5% down payment and is not limited to first-time home buyers.
Speak to a loan officer at Residential Mortgage Network, Inc. to get started today. Call 319-354-7501 to schedule an appointment at the lender’s new office at 2507 Highlander Place, Iowa City IA 52245 USA. For more information, visit the website.
Residential Mortgage Network, Inc.
2507 Highlander Place
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