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Highlands Residential Mortgage Overview: On a Mission to Turn out to be the World’s Most Revered Mortgage Model


At the moment we’ll take a look at “Highlands Residential Mortgage,” a Texas-based mortgage lender that’s on a mission.

Their task? To be the world’s most revered mortgage model, an formidable aim that can definitely take a variety of legwork.

Nevertheless it speaks to their deal with customer support versus progress in any respect prices. And seeing {that a} residence buy is among the life’s larger milestones, it’s necessary to get it proper.

Whereas they’re grown right into a multi-billion-dollar lender over the previous decade, they’ve achieved so methodically to make sure they proceed to offer excellent assist alongside the best way.

This implies you need to be in good fingers, whether or not you’re a seasoned actual property professional or first-time residence purchaser. Learn on to study extra.

Highlands Residential Mortgage Quick Details

  • Retail direct-to-consumer mortgage lender
  • Affords residence buy loans, refinances, and residential renovation loans
  • Based in 2010, headquartered in Allen, TX
  • At present licensed to do enterprise in 33 states and D.C.
  • 50 brick-and-mortar department areas nationwide
  • Funded over $5 billion in residence loans final 12 months
  • A few third of general quantity comes from residence state of Texas

Highlands Residential Mortgage was based in 2010 by trade veterans Invoice Starkey, Sr., Ken Hickman, and Brian Starkey.

They are saying the corporate was constructed by mortgage originators for mortgage originators. In different phrases, they knew the ache factors after working for different lenders, and took steps to repair them.

This could lead to a smoother course of for purchasers, who are sometimes befuddled by the house mortgage expertise.

Regardless of being little greater than a decade previous, the corporate funds billions in residence loans yearly.

In 2020, the corporate originated about $5 billion in residence loans, with roughly a 3rd of that originated of their residence state of Texas.

They’re additionally very energetic within the states of Arkansas, Florida, North Carolina, Tennessee, Washington.

The corporate does a close to 50/50 break up of residence buy loans and mortgage refinances, in order that they’re appropriate for each potential residence consumers and current owners.

In the intervening time, they’re licensed in 33 states and Washington D.C.

These different states embody Alabama, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

My assumption is that they’ll develop to extra states over time as soon as they’re comfy doing so.

Apply with Highlands Residential Mortgage

Highlands Residential Mortgage is huge on expertise, but in addition understands the facility of human contact.

This implies you get one of the best of each worlds, and might choose and select how a lot you need of both.

Those that are tech savvy will love their free smartphone app that allows you to deal with as much as 97% of the mortgage course of from the palm of your hand.

And even in case you’re not the savviest on the market, their on-line mortgage portal makes it straightforward to finish most duties electronically.

Whether or not you should securely add paperwork, eSign disclosures or closing paperwork, or just test the standing of your mortgage, it’s all proper at your fingertips.

To get began, merely head over to their web site and click on on “Discover a mortgage officer.” From there, you’ll be capable of enter a person’s title or search by location.

As soon as you discover the department/particular person you’re in search of, you’ll be able to apply instantly on-line from their webpage.

Their digital mortgage is powered by SimpleNexus, a pacesetter within the mortgage fintech area.

Whereas a lot of the mortgage course of may be accomplished electronically, it could be attainable to finish duties in individual as properly in case you dwell close to a department.

They’ve obtained about 50 bodily department areas scattered throughout the USA.

Mortgage Applications Provided by Highlands Residential Mortgage

  • Dwelling buy loans
  • Dwelling renovation loans
  • Refinance loans: charge and time period, money out, and streamline choices
  • Conforming loans backed by Fannie Mae and Freddie Mac
  • FHA loans
  • VA loans
  • USDA loans
  • Fastened-rate loans in quite a lot of mortgage phrases

Highlands Residential gives all the main mortgage packages you might consider, whether or not it’s a house buy mortgage, refinance mortgage, or renovation mortgage.

I imagine in addition they provide development loans, although they aren’t explicitly listed on their web site.

You will get a mortgage backed by Fannie Mae or Freddie Mac, or a government-backed mortgage akin to an FHA mortgage, VA mortgage, or USDA mortgage.

It’s unclear if jumbo loans are provided, although there’s an honest likelihood they’re. However you’ll have to inquire with a mortgage officer to seek out out.

They’ve primarily provided fixed-rate mortgages in numerous mortgage phrases over the previous a number of years, however can also provide adjustable-rate mortgages going ahead.

All in all, most debtors ought to discover what they’re in search of when it comes to mortgage choice.

Highlands Residential Mortgage Charges

They don’t seem to checklist their mortgage charges or lender charges on their web site, so we’re at midnight with regards to pricing.

Nonetheless, that doesn’t imply they aren’t competitively priced relative to different banks and lenders on the market.

However do take the time to get a mortgage charge quote earlier than continuing to a proper mortgage utility to make sure you’re pleased with their charges/charges.

Additionally be aware of any lender charges charged, akin to a mortgage origination charge, processing/underwriting charges, and so forth.

The one actual trace we now have concerning their pricing comes from their wonderful buyer critiques. They most likely wouldn’t be rated so extremely if pricing wasn’t nice.

Nonetheless, put within the time to assemble a number of quotes from totally different banks, lenders, and mortgage brokers to make sure.

Highlands Residential Mortgage Critiques

Highlands Residential Mortgage comes very extremely rated, with wonderful critiques throughout all the main rankings web sites.

They’ve an excellent spectacular 4.92-star score out of a attainable 5 on Expertise.com from almost 42,000 buyer critiques.

Contemplate filtering by mortgage officer if you wish to discover a standout worker on the firm.

On Zillow, they’ve a actually near-perfect 4.99 star score out of a attainable 5 from almost 600 buyer critiques.

A great chunk of these critiques point out that the shopper acquired an rate of interest that was decrease than anticipated. In order that’s excellent news pricing-wise.

Moreover, they’ve obtained a 4.9-star score from over 1,600 Google critiques, one other signal of their constant buyer satisfaction.

To sum issues up, Highlands Residential Mortgage seems to be a really well-liked mortgage lender that excels in each residence buy lending and refinancing.

This implies they may very well be a strong selection whether or not you’re a brand new residence purchaser or an current home-owner seeking to faucet fairness or change mortgage packages.

The one huge query mark is pricing, which isn’t available on their web site.

Highlands Residential Mortgage Execs and Cons

The Good Stuff

  • Can apply for a house mortgage on-line or by way of smartphone in minutes
  • Their mortgage course of is digital and principally paperless
  • Bodily department areas in lots of states the place they’re licensed
  • Loads of mortgage packages to select from
  • Quick flip instances due to in-house mortgage processing/underwriting/closing
  • Wonderful critiques from tens of 1000’s of previous clients
  • Free smartphone app

The Possibly Not

  • Don’t publicize mortgage charges or lender charges
  • Mortgage could also be transferred to a third-party mortgage servicer after closing

(picture: caroline legg)

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