Nationwide Advantage Mortgage Co.

(866) 816-5143
www.FOPAdvantage.com

The Grand Lodge FOP has endorsed Nationwide Advantage Mortgage to offer members and their families a mortgage program that makes home financing easy, inexpensive and stress-free.

Want to know what sets Nationwide Advantage Mortgage apart from its competitors? Gene B. Russell, Business Relationship Manager, provides seven reasons why FOPAdvantage is the best mortgage deal for law enforcement.

Through state conferences, I have the honor to present the Nationwide Advantage Mortgage Program to FOP members & delegates across the USA. Here's a snapshot of the Top Seven Reasons to use the FOP Advantage for your next mortgage loan. Number 7 Endorsement by the Grand Lodge FOP: Nationwide Advantage Mortgage was reviewed thoroughly so members would receive competitively priced, low cost mortgages. We are pleased to support the Grand Lodge so they may support law enforcement in your community. Number 6 No Predatory Lending: Nationwide Advantage Mortgage Company has made a commitment as part of its business plan to be a low cost provider of mortgage loans and to avoid predatory lending practices. Most often, the victims of predatory lenders are low and moderate income individuals, minorities and the elderly. But anyone—including you—can be misled by a predatory lender. We believe that predatory lending involves: charging points and fees to a borrower that are excessive and/or unallowable; falsifying credit and/or appraisal documentation; providing a loan to a borrower who clearly cannot afford to make the payments; "loan flipping" where a lender repeatedly refinances a loan, thereby collecting additional fees in order to strip the equity from the home (Note: this list is not meant to be all-inclusive) Number 5 No Private Mortgage Insurance (PMI) on most loans: PMI is extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home's value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI. PMI is not tax deductible. Nationwide Advantage Mortgage utilizes a Low Down Payment Rate Adjustment (LDPRA) instead of PMI. LDPRA utilizes similar terms and conditions as PMI. However, LDPRA often costs less and offers income tax deductibility. PMI plays an important role in the mortgage industry by protecting a lender against loss if a borrower defaults on a loan and by enabling borrowers with less cash to have greater access to homeownership. This means that you can buy a home sooner without waiting years to accumulate a large down payment. Number 4 1-2 Unit Investment Properties: Check with Nationwide when you want to purchase or refinance investment properties. Many lenders treat these loans as commercial loans with accompanying higher interest rates, points and fees. Number 3 0% Down Payment Mortgages: This is an excellent program for members purchasing their first home or those who wish to invest their equity elsewhere. With an approved credit profile, the borrower must contribute a minimum of $500 and have funds available for third party closing costs. This program allows the seller to pay up to 3% towards buyers' closing costs. Number 2 Best Price Guarantee: We want you to be assured that Nationwide Advantage Mortgage Co. is the low cost lender. We will match any competing lender's offer to approved and registered customers. We will "match" a competing lender's Base Interest Rate, Points and lender fees (Annual Percentage Rate-APR) or we will pay you $300.00 after you close your loan with the competing lender. For Best Price Guarantee details, please visit www.FOPAdvantage.com or call (866) 816-5143. Number 1 Low Cost Lender: Nationwide Advantage Mortgage Company has reduced and eliminated many lender's fee. Since we are a direct lender and the fact that our call center mortgage agents are salaried, we don't charge expensive origination fees or other fees that dramatically increase the cost to acquire a mortgage. These "profit fees" could easily amount to 1% to 5% of the loan amount. How does a FOP member identify a low cost lender? Ask a lender the correct first question. At zero points, what is the Annual Percentage Rate (APR) and the loan rate? The narrower the spread between the loan rate and APR indicates a loan's lower acquisition costs. Simply put, consumers keep more of their money. The wider the spread between the loan rate and the APR means more money is collected for points, origination and lender's fees. In addition, APR will also help you determine if you are unwittingly buying down the interest rate. Choose a loan with no prepayment penalties, competitive interest rate and low lender's fees and you'll have more cash for down payment, third party closing costs or future home improvements. That's Nationwide Advantage Mortgage—we're on YOUR side!