Wings Financial Mortgage Review

Joseph Meyer
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Wings Financial Overview

Wings Financial is a prominent mortgage lender in the marketplace. With multiple offices throughout the country, they offer a variety of products, including conventional, FHA, VA, USDA, HARP, and Jumbo.

Current Wings Financial Mortgage Rates

Wings Financial is now known as Bank of America (BofA), and this makes it harder to find a Wings Financial mortgage rate. Look for a BofA mortgage rate to see if it can offer you a great rate. Just make sure to ask for a Wings Financial mortgage adjustment if you’re using a current Wings Financial mortgage rate.

Wings Financial Loan Specifics

The Wings Financial loan program is a good choice for people who have a track record of on-time payments throughout their life, and people who have excellent credit scores as well. Wings Financial is a division of Wings Financial Credit Union. The credit union has over 230,000 members and has an A+ rating from the Better Business Bureau. The loan decision process is a little faster than with other similar lenders because Wings Financial only requires two documents for the average applicant; the Proof of Income and Expenses, as well as the bank statement. For the best chance of approval, apply to Wings Financial at least two weeks before your closing date.

Fixed-Rate Loans

A Loan to Keep You on the Straight and Narrow

When you lock into a fixed-rate mortgage, you can rest assured that your mortgage rate won’t fluctuate over the life of your loan. In fact, it will be the same on the day you purchase the home as it will be 30 years later when you’ve finally paid it off. One of the great advantages of a fixed-rate is that you can feel safe in the knowledge that your mortgage payments will never increase. That’s great if you’ve prioritized the size of your down payment and will be shelling out between 20% and 30% of the purchase price for the house. That down payment helps secure your mortgage rate, so that’s obviously a good thing.

Adjustable-Rate Loans

The initial period for an adjustable-rate mortgage, like a prime fixed-rate FRM, is usually 10 years, with 25- and 30-year terms being common. The rate you pay depends on the index used to calculate it. There are several different indexes, including:

  • Average prime offer rate
  • Average prime offer rate for a constant-amortization loan (a loan in which the same monthly payment is made during a loan’s term)
  • Average prime rate
  • LIBOR (London Interbank Offered Rate)
  • Treasury bill rate
  • Treasury constant-maturity rate
  • Treasury inflation-indexed rate

Rates that are based on the average prime offer rate or LIBOR are tied to the market and will vary based on the market’s rate and the bank’s spread. LIBOR rates are usually 0.5 to 1.0 percent higher than market rate. The spread depends on the bank and the term. The longer the term, the higher the spread.

The prime rate usually stands at 3.5 to 4 percent more than the Treasury constant-maturity rate and can change daily.

Jumbo Loans

Wings Financial Membership Requirements

In order to qualify for membership in Wings Financial, you must first obtain a safe and secure mortgage and live within a specific region. In order to qualify, homeowners must have a good credit rating and have at least a 5% equity stake in the home they desire to refinance.

The home must also have been purchased or constructed in the last 15 years. Finally, applicants must submit at least 5 different offers from competing companies along with their application. Wings Financial Mortgage will then submit the best offer to the board to decide which application gets approved.

Once approved, account holders receive a free Life Membership card that grants access to over 100,000 member-only perks.

Wings Financial Lender Reputation

Wings Financial is a privately owned company offering mortgages since 2004, providing only soft and hard Money.

Plenty of happy customers will testify for the high quality Wings Financial services, especially having long lasting relationships with their customers.

Wings Financial is offering a wide range of financial services including unsecured loans (cash loans), personal loans, loans against pension, business/commercial loan, bridging loans and many others.

Currently the company carries a rating of “F” on the Better Business Bureau’s website.

Wings Financial Mortgage Qualifications

In general, to qualify for a mortgage loan you must have a good credit score and liquid assets sufficient to cover the down payment and fees. If you are buying a new home, the bank will also probably insist that you have enough funds to cover the first year or even two of mortgage payments in the event that the money supply is interrupted or you unexpectedly lose your job.

If you are not wealthy, your best chance at obtaining a mortgage is to apply for a Jumbo loan from a reputable institution. You may also consider applying for a great if you can demonstrate verifiable assets and a solid withdrawal history.

How you pay for your ring also has an effect on your credit. If you have the cash, consider making a private loan to yourself and then paying cash for the ring. Be certain to have the terms of that loan spelled out in a written promissory note to be sure you don’t lose control of your ring.

In the event that you need to finance your ring purchase, begin by contacting the jeweler and/or your bank for a pre-designated amount. Be certain that you can pay for the ring immediately after the loan is approved. Debit cards are the quickest method.

Wings Financial Phone Number & Additional Details

With Wings Financial phone number, you can reach out to their customer care support team for assistance. Their support team for Wings Financial phone number is open round the clock for assistance from their clients. Their support team for Wings Financial phone number is open round the clock for assistance from their clients.

If you want assistance regarding application process, you can provide details like your name, email ID, contact number or property address. The experts will guide you in the right manner so that you do not face any issues during the application process. You can also click on the above links in order to get detailed information.