Services provided by GreenPoint Mortgage include online tools and information for mortgage brokers, residential mortgages and mortgage loans. This company specialized in no-documentation and “Alternative A” mortgage loans, according to Mortgage-Info.us. However, as of 2016, GreenPoint Mortgage Funding is no longer in business, claims the Better Business Bureau.Continue Reading
When GreenPoint Mortgage was in business, it offered fixed rate loans for 15 and 30 year time periods. Point and payment options varied from 2.25 points to 0 points, says Mortgage-Infor.us. A free 30 day rate lock and no income or asset verification was offered for the fixed rate loans. The company also offered 30 or 40 year fixed, low rate mortgages for qualifying first time buyers or people with low income. This loan option featured low monthly payments and down payment options.
Qualifying applicants were able to borrow up to 97% of the value of the home without being required to pay Private Mortgage Insurance monthly premiums. Certain qualified buyers were able to receive up to $3,000 for closing costs, states Mortgage-Info.us. However, geographical restrictions applied to this offer. A program was also provided for first time or low income buyers in which GreenPoint matched $3 for every $1 in a down payment.Learn more about Credit & Lending