With Prestige Mortgage of Louisiana LLC, the loan approval process has never been as easy. A variety of secure and convenient application options are offered. These are individuals that Prestige Mortgage of Louisiana LLC work with and trust to provide you with the same level of service you have come to expect here.
See who we recommend! The team here is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area. This Free Purchase Assistant has been designed to help narrow down options based on your individual needs. It's quick, it's easy, and the more questions you answer - the more accurate your results.
See who we recommend! The team here is committed to providing our clients with the highest quality financial services combined with the lowest rates available in your area. This Free Purchase Assistant has been designed to help narrow down options based on your individual needs. It's quick, it's easy, and the more questions you answer - the more accurate your results.
Services
Prestige Mortgage of Louisiana LLC. is committed to providing our clients with the highest quality financial services combined with the lowest costs and rates available in the area. Our outstanding mortgage professionals will work with you one on one to ensure that you get a financial solution that is tailored specifically to meet your financing needs.
An ARM is a mortgage with an interest rate that may vary over the term of the loan - usually in response to changes in the prime rate or Treasury Bill rate. The purpose of the interest rate adjustment is primarily to bring the interest rate on the mortgage in line with market rates. Mortgage holders are protected by a ceiling, or maximum interest rate, which can be reset annually.
Conforming Loans: Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.
Construction Loans- Our construction loan is a two time close loan which means we close you with the interim bank first and then the permanent lender later once the home is 100% complete. Down payment on these loans is as little as 10% down or more in some cases and land equity may be considered.
There are two sets of closing costs but its not double as the second closing is usually just the lenders underwriting fee, title fees and setting up the escrow accounts.Regular purchase money or refinance mortgages are based on Loan to Value Ratio (LTV). Where as, construction loans are based on LTV as well as Loan to Cost Ratio.
There are two sets of closing costs but its not double as the second closing is usually just the lenders underwriting fee, title fees and setting up the escrow accounts.Regular purchase money or refinance mortgages are based on Loan to Value Ratio (LTV). Where as, construction loans are based on LTV as well as Loan to Cost Ratio.
FHA loans-Low down payment of 3.5% with credit scores of 500 or better are required. Scores of 660 gets you better rates for this program and down payment assistance may be possible in Lafayette parish when funds are available. Scores under 580, down to 500, do require 10% down payment and are done on a case by case basis.
Reviews (3)
Tina Johnson
Nov 24, 2020
Report
Megi Trahan
Dec 15, 2019
Report
The transfer of the mortgage was absolutely smooth, quick, reliable, and trustworthy... and it’s all due to JAMES BATTEY... his work ethic was phenomenal, but him as a person was even better. He cares for you, and wants to do the best for everyone involved - and it’s easily shown through his servants heart as well as his work! Highly recommend this guy, possibly my most highly recommendation towards anything I’ve ever recommended in my life!
Bryan Mack
Aug 03, 2018
Report
