Home Loans and Refinance - Movement Mortgage (2024)

FAQs

Is Movement Mortgage easy to get approved for? ›

You'll need a credit score of at least 580 for a conforming VA loan and 620 for a loan above the limit to qualify for a VA loan through Movement Mortgage. Federal Housing Administration (FHA) loan: You can qualify for this type of government-backed loan with down payment savings (or gift funds) of just 3.5%.

Yes, Movement Mortgage can help you refinance your home if the time is right to lock in a better mortgage rate, or if you're a longtime homeowner who would like to tap into built-up home equity.

Casey Crawford is the co-founder and CEO of Movement Mortgage. The former Super Bowl champion also serves as chairman of Movement Bank and Movement Insurance. Since 2012, Casey's companies have given millions of dollars to the Movement Foundation to uplift people and communities across the globe.

The Bottom Line

Refinancing can be a smart financial move if it reduces your mortgage payment, shortens the term of your loan, or provides cash for necessary expenses. However, it can also involve significant closing costs and fees, so you may not realize any savings for a number of years.

Upfront underwriting in 6 hrs* when you apply online

Some lenders can take anywhere from three days to a week to get back to you. Sometimes more. At Movement, our goal is to have underwriting completed upfront in as little as six hours* from receiving your application.

What is the easiest type of mortgage to get? Government-backed loan options, such as FHA, USDA and VA loans, are typically the easiest type of mortgage to get because they may have lower down payment and credit score requirements compared to conventional mortgage loans.

ALBANY, NEW YORK – Movement Mortgage, LLC, has agreed to pay the United States $23.75 million to resolve allegations that it violated the False Claims Act by failing to comply with material program requirements when it originated and underwrote mortgages insured by the Department of Housing and Urban Development's (HUD ...

Refinancing will hurt your credit score a bit initially, but might actually help in the long run. Refinancing can significantly lower your debt amount and/or your monthly payment, and lenders like to see both of those. Your score will typically dip a few points, but it can bounce back within a few months.

Houlihan Lokey is pleased to announce that the retail mortgage operations of Mortgage Network, Inc. (Mortgage Network), have been acquired by Movement Mortgage, LLC. (Movement). The transaction closed on November 30, 2022.

How many states is Movement Mortgage in? ›

Movement can service a loan in all 50 states.

With more than 4,000 teammates across all 50 states, they reinvest the majority of our profits back into the communities they serve. Movement is the 10th ranked top-producing residential mortgage company in the U.S., funding more than $20 billion in residential mortgages annually.

Key Takeaways

Don't refinance if you have a long break-even period—the number of months to reach the point when you start saving. Refinancing to lower your monthly payment is great unless you're spending more money in the long-run.

Refinancing allows you to lengthen your loan term if you're having trouble making your payments. The downsides are that you'll be paying off your mortgage longer and you'll pay more in interest over time. However, a longer loan term can make your monthly payments more affordable and free up extra cash.

The cost to refinance a mortgage is usually around 2% to 6% of the loan amount. That's about the same as closing costs for a home purchase. The big difference is that a down payment isn't necessary when you refinance because borrowers already have equity in their home.

ARM requirements are similar to those for fixed-rate mortgages. However, qualifying for an adjustable-rate mortgage can be more difficult because you'll need enough income in case interest rates climb. As with any other mortgage, you'll need to prove your employment and income as part of the application.

Credit score and mortgages

The minimum credit score needed for most mortgages is typically around 620.

Lenders turn down mortgage applications for any number of reasons, from bad credit to a recent job change. It doesn't mean you have to throw in the towel on your dream of homeownership, though. Figuring out why you were denied and how to address the problem can improve your chances next time.

In fact, the UK places sixth on a list of 10 countries where it's most difficult to get on the property ladder. The only countries where it's even harder to become a homeowner are Switzerland, China, Japan, France and Kenya.