Unlike some other lenders, Freedom Mortgage services its own loans. For example, with a 5/6 ARM, the rate is fixed for five years and then may change every six months for the remaining term. After the fixed period ends, the interest rate may go up or down at scheduled adjustment dates. With an ARM, you start off with a fixed rate for a specified term. In addition to fixed-rate loans, Freedom Mortgage also offers adjustable-rate mortgages (ARMs) with the following terms: Loan Typesįreedom Mortgage offers the following types of home loans: The lender will send notifications when interest rates drop, which can help you understand if refinancing is right for you. Once you become a customer, you can opt-in to text alerts through a program called Eagle Eye. Successful applicants might be eligible for a “Close on Time Guarantee.” If Freedom Mortgage delays the closing date listed in your contract, the lender will pay you either $1,000 or the principal-and-interest portion of your first mortgage payment, whichever is lower. Interested borrowers can contact Freedom Mortgage by phone or through its website to get up-to-date rate information. Unfortunately, Freedom Mortgage doesn’t disclose mortgage rates or terms online. While the lender serves all types of borrowers, it focuses on helping veterans, military service members and consumers with low down payments qualify for homeownership. states, Washington, D.C., Puerto Rico and the U.S. Freedom Mortgage is licensed to offer mortgages in all 50 U.S.
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