What do you know about Mortgage Lenders of America?

Question by Jessica L: What do you know about Mortgage Lenders of America?
My husband and I are an immature military mating looking to buy our first house. We can’t be approved for a mortgage loan through our bank because my husband has only been in the Navy for 1 year (they require 2 years in the same field). We have applied through Lending Tree and recieved a really good offer from Mortgage Lenders of America. Has anyone else worked with them? I’ve visited their website, but want to know more information from someone who has worked with them personally. This is a HUGE investment for us, and we don’t want to make a mistake. Thanks in advance!

Best answer:

Answer by mikegs400
I don’t know that Lender. However, I don’t recommend an ARM (adjustable rate mortgage) loan. The interest rate does go up….get a fix rate loan if you plan to live there for a while. PS. put some money pop when you buy the house…..if not….when you sell your home… your loan might be higher than the home what the house is worth….you end up paying money when to sell the home.

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