National City Mortgage is a division of National City Bank of Indiana. They have been in business since 1989, but have made several acquisitions since then including: Gem Mortgage Corporation, Merchants National Bank, Integra Mortgage Company, Commonwealth United Mortgage, FNMC – The Mortgage Company, Eastern Mortgage Services, First of America, AccuBanc Mortgage, and Muirfield Mortgage. As of December 2004, their servicing portfolio was over $165 billion and represented over 1.1 million mortgage loans.
National City Mortgage has the financial strength and stability to make it both a unique mortgage lender and to give it the position as the 9th largest mortgage originator in the United States. They earned this ranking in fiscal year 2004 when National City Mortgage funded over $65 billion in mortgage loans.
National City Mortgage’s specialty is the origination of residential mortgage loans through the utilization of their retail, wholesale, and telemarketing channels. The mortgage operations division then originates, acquires, markets, and services those loans.
Loans and services Offered by National City Mortgage Company
Fixed Rate Programs
Adjustable Rate Mortgages (ARM)
Affordable Housing Programs, Jumbo Mortgages
FHA and VA Mortgages
Construction and rehab programs
Home equity loan
Home equity line of credit
Private Mortgage Insurance
FHA Mortgage Insurance
VA Funding Fee
Flood Insurance
Life insurance
Disability insurance
First-Time Homebuyers
Bond Programs
Mortgage Credit Certificate (MCC)
Rural Development
Balloon Mortgages
No Doc Programs
Streamlined Purchase Mortgage
Interest Only ARM Program
Other National City Mortgage Options
National City Mortgage has Affordable Housing Programs. They offer Fannie Mae and Freddie Mac programs for first time homebuyers. These programs offer low down payments and lower interest rates for people who have good credit, but have difficulty meeting other standard requirements. National City Mortgage offers bond programs in Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Illinois, Indiana, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, and Virginia. They also have a Rural Development program designed to help rural residents with better access to affordable housing. This program is available in all states.
If you plan on building the home of your dreams, National City Mortgage has a construction loan that will work for you. The One-Time Close Construction/Permanent program offers borrowers all the money they need for the construction and permanent phases of their home under one application and closing cost. This loan frees your time and energy, so you can focus solely on your new home. National City also offers lot loans, Home Equity Loans, and Home Equity Line of Credit Loans that you may find useful.
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