About
Jet Direct Mortgage is a privately owned, full-service mortgage banking firm that was founded in 2006. The company was founded by two mortgage industry veterans, John DiMichele and Brian Sacks, with the goal of providing superior customer service and a wide range of mortgage products to help people achieve their homeownership dreams. The company was founded in 2006 and is based in Bay Shore, New York.
Since its founding, Jet Direct Mortgage has grown significantly and now has over 400 employees and more than 20 branch locations across the United States. The company has also expanded its product offerings to include a wide range of mortgage products, including conventional, FHA, VA, USDA, jumbo, and non-conforming loans, as well as refinancing options.
In addition to its focus on providing a wide range of mortgage products, Jet Direct Mortgage has also prioritized providing excellent customer service. The company has a team of licensed mortgage professionals who work with borrowers throughout the mortgage process, from pre-approval to closing. The company also offers personalized mortgage consultations to help borrowers make informed decisions about their mortgage options.
Key Features
Some of the key features of Jet Direct Mortgage include:
- Wide range of mortgage products. Jet Direct Mortgage offers a comprehensive range of mortgage products, including conventional, FHA, VA, USDA, jumbo, and non-conforming loans, to help borrowers find the right mortgage for their specific needs.
- Refinancing options. The company also offers a range of refinancing options, including cash-out refinancing, rate-and-term refinancing, and streamline refinancing, to help homeowners reduce their monthly payments, lower their interest rates, or take cash out of their homes.
- Excellent customer service. Jet Direct Mortgage is committed to providing superior customer service and has a team of licensed mortgage professionals who work with borrowers throughout the mortgage process, from pre-approval to closing.
- Personalized mortgage consultations. The company offers personalized mortgage consultations to help borrowers understand their mortgage options and make informed decisions about their financing.
- Branch network. Jet Direct Mortgage has a growing network of branch locations across the United States, making it easy for borrowers to access the company's mortgage products and services.
- Online resources. The company's website provides a range of online resources, including a mortgage calculator, a glossary of mortgage terms, and a library of mortgage-related articles, to help borrowers make informed decisions about their mortgage options.
Pros and Cons
Pros
- Competitive rates. Jet Direct Mortgage offers competitive interest rates, which can help borrowers save money over the life of their mortgage.
- Excellent customer service. The company has a reputation for providing superior customer service, with a team of licensed mortgage professionals who work closely with borrowers throughout the mortgage process.
- Personalized mortgage consultations. Jet Direct Mortgage offers personalized mortgage consultations, which can be helpful for borrowers who are unsure of which mortgage product to choose.
- Online resources. The company's website provides a wealth of online resources, including a mortgage calculator, a glossary of mortgage terms, and a library of mortgage-related articles, which can be helpful for borrowers who want to learn more about the mortgage process.
Cons
- Limited physical branch network. Although Jet Direct Mortgage has a growing network of branch locations, the company may not have a physical branch location in every area, which can be a downside for borrowers who prefer to work with a local lender.
- Potentially strict qualification requirements. As with any mortgage lender, Jet Direct Mortgage may have strict qualification requirements, which can make it difficult for some borrowers to get approved for a mortgage.
- Potential for delays. Like many mortgage lenders, Jet Direct Mortgage may experience delays in the mortgage process, which can be frustrating for borrowers who are eager to close on their home.
- Fees and charges. As with any mortgage lender, Jet Direct Mortgage may charge fees and charges that can add to the cost of the mortgage, which borrowers should be aware of when considering their options.
Products
Jet Direct Mortgage offers a variety of mortgage products, including conventional, FHA, VA, USDA, jumbo, and non-conforming loans. The company also offers refinancing options, including cash-out refinancing, rate-and-term refinancing, and streamline refinancing.
In addition to its mortgage products, Jet Direct Mortgage provides a range of services to help borrowers through the mortgage process, including pre-approvals, personalized mortgage consultations, and access to a team of licensed mortgage professionals.
Jet Direct Mortgage is committed to providing a high level of customer service, and the company's website provides a variety of resources to help borrowers make informed decisions about their mortgage options. These resources include a mortgage calculator, a glossary of mortgage terms, and a library of mortgage-related articles.
Overall, Jet Direct Mortgage is a reputable mortgage lender that provides a range of mortgage products and services to help borrowers finance their homes
Reliability
Jet Direct Mortgage has a good reputation for reliability in the mortgage industry. The company has been in business since 2006 and has a strong track record of providing a wide range of mortgage products and services to borrowers. Additionally, Jet Direct Mortgage is a licensed mortgage banker in several states, which means the company is regulated and overseen by state and federal agencies.
One of the key indicators of Jet Direct Mortgage's reliability is its reputation for excellent customer service. The company has a team of licensed mortgage professionals who work closely with borrowers throughout the mortgage process, from pre-approval to closing, which can help to ensure a smooth and reliable mortgage experience.
Jet Direct Mortgage has also received positive reviews and feedback from borrowers, with many citing the company's professionalism, expertise, and responsiveness. Additionally, the company has been recognized by various industry organizations for its performance and excellence in the mortgage industry.
Overall, Jet Direct Mortgage is considered a reliable and reputable mortgage lender with a strong focus on customer service and a proven track record of providing a wide range of mortgage products and services to borrowers.
Funding a Loan
When a borrower applies for a loan with Jet Direct Mortgage, the company's team of licensed mortgage professionals works with the borrower to determine their eligibility for a mortgage and to identify the best mortgage product for their specific needs. If the borrower is approved for a loan, Jet Direct Mortgage will then work to fund the loan.
The loan funding process typically involves a number of steps, including:
- Loan processing. Once the borrower's loan application has been approved, the loan is sent to the company's loan processing department, where a processor will review the loan and ensure that all necessary documentation is in place.
- Underwriting. After the loan is processed, it is sent to an underwriter who will review the loan application and determine whether the borrower meets the lender's qualification requirements.
- Closing. If the underwriter approves the loan, the borrower and the lender will work to schedule a closing date. At the closing, the borrower will sign the loan documents and the lender will fund the loan.
- Servicing. After the loan has been funded, Jet Direct Mortgage will service the loan, which means the company will manage the borrower's loan account and handle the payment processing.
Throughout the loan funding process, Jet Direct Mortgage's team of licensed mortgage professionals works closely with the borrower to ensure that the process runs smoothly and that the borrower is kept informed about the status of their loan. Additionally, the company is committed to providing excellent customer service and ensuring that the loan is funded in a timely and efficient manner
Loan conditions
Loan conditions for a mortgage with Jet Direct Mortgage will depend on the specific type of mortgage product that the borrower selects. However, in general, some common conditions for a mortgage loan may include:
- Credit Score. Jet Direct Mortgage may require a minimum credit score to qualify for a mortgage, which can vary depending on the type of mortgage product.
- Income Verification. Borrowers may need to provide documentation to verify their income, including pay stubs, tax returns, and other financial statements.
- Employment Verification. Jet Direct Mortgage may verify the borrower's employment status and history to ensure that they have a stable income source.
- Debt-to-income Ratio. The borrower's debt-to-income ratio (DTI) may be a factor in determining their eligibility for a mortgage. This ratio compares the borrower's monthly debt payments to their monthly income.
- Property Appraisal. The lender may require a property appraisal to ensure that the value of the property is sufficient to support the loan amount.
- Insurance. Borrowers may need to provide proof of homeowners insurance to cover the property in case of damage or loss.
- Closing Costs. Jet Direct Mortgage may require the borrower to pay closing costs, which can include fees for things like the appraisal, title search, and other services.
These are just a few of the potential loan conditions that a borrower may need to meet to qualify for a mortgage with Jet Direct Mortgage. The specific conditions will depend on the type of mortgage product and the borrower's individual financial situation
Additional Services
In addition to its mortgage lending services, Jet Direct Mortgage also offers a range of additional services to help borrowers throughout the homebuying and mortgage process. Some of these additional services include:
- Refinancing. Jet Direct Mortgage offers refinancing services for borrowers who want to lower their interest rate, shorten their loan term, or cash out some of their home equity.
- Homebuying Education. Jet Direct Mortgage provides educational resources for homebuyers, including homebuying guides, mortgage calculators, and other tools to help borrowers make informed decisions.
- Home Equity Loans and Lines of Credit. Jet Direct Mortgage offers home equity loans and lines of credit, which can be used to access the equity in a borrower's home for home renovations, debt consolidation, or other purposes.
- Reverse Mortgages. Jet Direct Mortgage offers reverse mortgages for qualified borrowers who are 62 years of age or older and want to convert some of their home equity into cash.
These additional services can help borrowers make informed decisions about their homebuying and mortgage options and can provide them with additional financial flexibility and support throughout the homeownership journey.
