360 Mortgage Group Launches Two New Refinance Product Offerings

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SOURCE: kherring@levick.com

VA Interest Rate Reduction Refinance Loan Program Requires No Appraisal and Minimum 680 FICO FHA Non-Credit Qualifying Streamline Product Offers Unlimited LTV

Austin, Texas (PRWEB) January 09, 2013

360 Mortgage Group (360 Mortgage), a privately-owned mortgage bank, with a 100 percent focus on third party origination, announced today it has expanded its product portfolio by offering two new refinance products – Veterans Affairs (VA) Interest Rate Reduction Refinance Loan Program - and - Federal Housing Administration (FHA) Non-Credit Qualifying Streamline Product. Both products are currently available.

The VA Interest Rate Reduction Refinance Loan Program is designed to help qualified veterans, reservists, active duty personnel, or eligible family members with VA home loans benefit from current historically low interest rates with minimum requirements, while the FHA Non-Credit Qualifying Streamline Product will help individuals with FHA home loans take advantage of low interest rates without an appraisal or income documentation.

“360 Mortgage is committed to partnering with high quality mortgage brokers to help their clients refinance their homes on the most affordable terms available in the marketplace,” commented Mark Greco, President and Founder of 360 Mortgage. “Our two new product offerings will allow even more homeowners to take advantage of current low interest rates and offer real solutions to borrowers, especially those that have been restricted from refinancing due to various eligibility requirements.”

VA Interest Rate Reduction Refinance Loan Program

The VA Interest Rate Reduction Refinance Loan Program (also known as VA IRRRL) will offer individuals with VA home loans the opportunity to lower their interest rates and decrease their monthly mortgage payment.

Key Product Guidelines:

30 Year Fixed Amortization
Minimum 680 FICO Score
Subject Property is Primary Residence
W2 Wage Earner (May Not Be Self Employed)
Minimum Two Years with Current Employer
Maximum LTV 150% based on AVM (appraisal at originator’s option)

FHA Non-Credit Qualifying Streamline Product

The FHA Non-Credit Qualifying Streamline Product will offer individuals with FHA home loans the opportunity to secure government insured loans at a lower interest rate without a costly appraisal and with less paperwork.

Key Product Guidelines:

No LTV Restrictions and No Appraisal or AVM Required
No Appraisal Required
30 Year Fixed Amortization
Minimum 680 FICO Score
Subject Property is Primary Residence
W2 Wage Earner (May Not Be Self Employed)
Minimum Two Years with Current Employer

Mr. Greco added, “We strongly believe both these programs will contribute to overall recovery of the real estate market, as well as local and national economies.

For more information on the VA Interest Rate Reduction Refinance Loan Program and the FHA Non-Credit Qualifying Streamline Product, visit https://www.360mtg.com.

About 360 Mortgage Group, LLC:
Established in 2007, 360 Mortgage Group LLC is a privately owned mortgage bank with a 100 percent focus on third party origination that has successfully utilized its high-technology platform to provide better communication and customer service to business partners. An approved Fannie Mae seller/servicer and Ginnie Mae Issuer, 360 Mortgage Group is headquartered in Austin, Texas and provides services in 31 states across the country. 360 Mortgage Group is emerging as a leader in refinancing under Home Affordable Refinance Program (HARP) 2.0. For more information on 360 Mortgage Group, please visit https://www.360mtg.com.

Media Contacts:

John Lovallo of LEVICK - Telephone: 212-823-2002 - Mobile: 917-612-8419 - Email: jlovallo(at) levick (dot) com

Katherine Herring of LEVICK - Telephone: 202-973-1315 - Email: kherring (at) levick (dot) com

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