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NationsChoice Mortgage is a mortgage banker serving real estate agents, builders and individual homeowners in Arizona and California. While it’s primarily known as an online lender, it does have two brick-and-mortar locations in the states it serves.
Founded in 1994 by mortgage industry veteran Chad Fisher and headquartered in Gilbert, Arizona, NationsChoice Mortgage gained some notoriety in 2009 when, following the recession of 2008, it became the first lender to successfully navigate the U.S. government’s “Hope for Homeowners” loan program.
According to the company’s website, it generates more than $1 billion annually in residential mortgages.
Available in Arizona and California
Minimum credit score
620 for conventional and VA loans; 700 for jumbo loans; 580 for FHA loans
Conventional, VA, FHA and jumbo; refinancing options include cash-out refinancing and no-cash out refinancing; FHA streamline
Offers preapprovals for prospective buyers
Offers some no-cost loans
Delivers fast, streamlined transactions with competitive pricing
Only services loans in Arizona and California
Limited information available online; must call or apply to seek full details
While it does occasionally service HomeReady, Home Possible and USDA loans, it does not market them
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Refinancing including cash-out refinancing and no-cash out refinancing
According to CEO Chad Fisher, NationsChoice offers some no-cost loans. However, because “each loan is tailored to the client,” he says, prospective customers must begin working with a mortgage consultant to determine which loan product they might qualify for, along with any discounts, points and fee structures.
Minimum borrower requirements
NationsChoice follows federal underwriting guidelines for federally backed loans. That means borrowers can put as little as 3 percent down on some loans (such as FHA).
Borrowers with NationsChoice may also have a maximum debt-to-income ratio, or DTI, of 50 percent with certain loans. That means the sum of your monthly debts (including the new mortgage payment) cannot exceed 50 percent of your gross monthly income.
Get started with NationsChoice Mortgage
Borrowers can apply in person at either the Gilbert, Arizona, or San Diego, California, office, online or by phone. If you apply online, a representative will contact you.