Ditech

Ditech was founded in 1995 as a member of the General Motors family of companies. They are a direct lending business that operates primarily through the internet. Ditech is proud to offer telephone customer service twenty-four hours a day, seven days a week. They serve the entire United States, but are headquartered in Costa Mesa, California. If you happen to live in the Southern California area, you may want to check out DitechRealEstate.com to enhance your loan experience.

Ditech Lowest Rate Guarantee

Ditech offers its customers a Lowest Rate Guarantee. For this offer, Ditech compares all fees (except interim interest) and APR rates with other companies that offer the same loan package the applicant is interested in. If a competitor offers the same package with a lower APR and fee combination, Ditech will either lower their offer by fifty dollars, or pay the applicant five hundred dollars when he/she closes with the competing lender. This offer is only available for first mortgage loans and primary residences.

Ditech Mortgage Loan Options

Ditech primarily offers New Purchase Home Loans, Refinance Loans, and Home Equity Loans. They offer Adjustable Rate Mortgages (ARM) as both New Purchase and Refinance Loans. All their Adjustable Rate Mortgages come with an initial fixed rate term of three, five, or seven years. After that initial period, their rates adjust annually and according to the market. The Loan to Value ratio can be up to 95% for this loan.

Ditech wants to help its customers make the leap from renter to homeowner. To aid their customers in the process, Ditech has the Ditech $395 Flat Fee. With this program, the borrower doe not pay any points, closing costs or broker fees. They simply pay the $395 flat fee, and save thousands. Ditech also offers a program called Home Strength that is ideal for first time homebuyers. This loan offers 100% financing, plus up to 4% of your loan amount to cover closing costs. Both programs are great assets to first time homebuyers.

Sub-Prime Ditech Mortgage Loan Options

Don’t be discouraged from applying for a loan with Ditech simply because you have less than perfect credit. Ditech overlooks the past, and offers great financial help to customers with imperfect credit. They can offer you a 2/28 ARM, a 3/27 ARM, 15 Year Fixed Rate Loan, or a 30 Year Fixed Rate Loan and an abundance of other financial services you may find useful. The lowest credit score they will accept is 475.

Ditech’s Loan Process is simple. They review your application and contact you very quickly, usually within fifteen minutes. You will then discuss your program and amount options with your representative. After you’ve chosen a package, your representative will verify your information, and you will notarize and close your loan.

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