Rick McCants-Berkshire Lending
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Rick McCants-Berkshire Lending
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, the role of the mortgage broker has become more popular.

In many developed markets today, mortgage brokers are the largest sellers of mortgage products for lenders. Mortgage brokers exist to find a bank or a direct lender that will be willing to make specific loan an individual is seeking. Berkshire Lending is a residential mortgage company in Plano, Texas, that provides clients throughout the state with mortgage loans including Jumbo, Conventional, FHA, VA, USAA, and Reverse Mortgages.
Services
Rick McCants is a senior loan officer with more than 12 years of experience in the mortgage field. Rick has extensive experience with Fannie Mae and Freddie Mac guidelines. He originates and closes Jumbo, VA, FHA, conventional loans, and works with unconventional loans for clients requiring a different approach.
Mortgage loan officer Rick McCants of Berkshire Lending in Plano, Texas, provides solutions that make the loan application process simple. He will need to verify certain information about you and the property to begin the process of obtaining your loan. Borrower information will include verification of income and employment, assets, and your credit history.
Conventional loans, also known as "conforming loans, " are insured by Fannie Mae and Freddie Mac, and have varying loan amount limits based on the property's location. In Texas, for example, the conforming loan limit is $424,100. In San Francisco, where the median home prices are considerably higher, the loan limit is $636,150.
At the time of this report most lenders will go down to a 620 middle credit score for FHA. There are still a few lenders doing manually underwritten FHA loans down to a 550 credit score. Chapter 7 Bankruptcy: FHA has the friendliest bankruptcy seasoning guide-lines of any mortgage program available.
A jumbo loan is defined as a loan whose loan amount exceeds the Fannie Mae conforming loan limit. In Texas, the conforming loan limit is $424,100. In high cost states, such as California, the loan limit is as high as $636,150. Many lenders don't have access to jumbo loan products, but at Berkshire Lending, we have many available, and at considerably lower rates than the competition.
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