Nova Home Loans has been providing retail home loans since 1980 in the states of California, Colorado, Arizona and Nevada. At this point they are able to are able to offer their financial services in 12 states. In 2001, they expanded their ability to oversee the entire loan process by changing to a mortgage broker and banker. Loan applications are handled in-house from start to finish – eliminating the need for borrowers to ship and review applications around the country for underwriting, approval and document preparation. This centralization of the process certainly is more efficient, but more importantly the terms and process are more predictable. Also, being able to discuss the details of the process from start to finish with the same party allows the customer to be more aware of the myriad of considerations that go into a home loan.
Nova’s Highly Regarded in the Industry
Nova Home Loans is incredibly well reviewed by professional reviewers like the Better Business Bureau, who assigns Nova with an A+ rating. For customers who care about the quality and integrity of the company they are working with, Nova has a great reputation as a community member and as an employer. As far as their loan offerings go, Nova offers loan options include fixed rates, adjustable rates, jumbo mortgages, FHA loans, VA loans, reverse mortgages, bridge loans, down payment loans renovation and construction loans. Each has its own characteristics but they are all subject to evaluation in relation to your own financial situation.
Trusting Your Lender
A good indication of a company’s trustworthiness is to look at how many cautionary notes they add to their sales pitch. Nova explains under their description of the bridge loan that there are lots of ways that such a plan could go wrong – housing market crashes, interest rates rising or the very real possibility that you will fail to sell your home quickly.