Lexington Mortgage Funding

Lexington Mortgage Funding is a mortgage broker in Lexington, SC, located at 100 Harmon Street. The firm provides face-to-face mortgage consulting and assists clients with home purchases, pre-approvals, and refinancing. Services include conventional, FHA, VA, USDA, and reverse mortgage loans. Barry Stricklin serves as the president, CEO, and broker. The business holds a rating of 4.10 based on 9 reviews.

Conventional mortgages follow guidelines set by Fannie Mae and Freddie Mac, government-sponsored entities that guarantee or purchase 35% to 50% of all mortgages. These loans may be fixed-rate or adjustable and typically require higher credit scores and down payments, though interest rates can be lower than other loan types. Loans exceeding conforming limits are classified as jumbo mortgages and carry higher rates. FHA loans, insured by the Federal Housing Administration, allow borrowers to purchase homes with down payments as low as 3.5%. Borrowers must meet specific credit criteria, be two years out of bankruptcy and three years out of foreclosure, and pay upfront and annual mortgage insurance premiums. VA loans, guaranteed by the Department of Veterans Affairs, are available to servicemembers, veterans, and eligible surviving spouses. These loans can offer no-money-down options for primary residences and cover single-family homes, condominiums, and co-ops.

USDA mortgages provide low-cost insured loans for rural areas, including Guaranteed Housing Loans for applicants with income up to 115% of the area median and Direct Housing Loans for low-income households. Reverse mortgages allow homeowners aged 62 and older to access home equity without monthly payments, with the balance due when the homeowner dies, sells the property, or moves out for more than 12 consecutive months. Borrowers must occupy the property as their principal residence and complete an approved counseling course.

Customers have given the business a positive rating, reflecting their satisfaction with the service. The firm has served the Lexington area with a focus on helping borrowers navigate complex mortgage programs.

Lexington Mortgage Funding helps Lexington residents secure financing for their homes through a range of specialized loan options.

Lexington Mortgage Funding is located on Harmon Street, just about a tenth of a mile from East Main Street and the Lexington Interfaith Community Services. The office is situated near Twelvemile Creek and within walking distance of Lexington Mill Pond.

BizScoreAI awarded the business a Performance score of 74 out of 100, which reflects fast website loading that keeps visitors on the page and helps with search engine ranking. The business ranks number 2 of 3 Mortgage broker businesses that BizScoreAI has scored in Lexington.

Services:

• Conventional Mortgage Loans
• FHA Loans
• Reverse Mortgages
• USDA Loans
• VA Loans