|Loan types||Home Purchase, Home Refinance|
|Repayment Terms||Fixed terms of 15, 20, and 30 years|
|Top Pro||Highly automated approval process|
|Top Con||Not available in all states|
|Best for||Customers looking for a reliable home financing solution|
Founded over 20 years ago, J.G. Wentworth Home Lending, LLC. NMLS ID # 2925 started its corporate life offering structured settlement payments to help customers improve their access to financing. Since then, it has helped customers sell more than $8 billion in annuities and settlements. In 2014, J.G. Wentworth decided to expand its financing solutions. Today, the company offers mortgages and home refinancing loans for customers looking to purchase a home or consolidate their existing mortgage payments into favorable rates and terms.
Thanks to a broad range of fixed-rate term options, J.G. Wentworth’s mortgages are an excellent choice for customers seeking a steady payment schedule and stability over the long-term. The company’s terms are designed to fit a variety of needs, from customers looking to repay their homes as quickly as possible to those who prefer to extend payments over several years. J.G. Wentworth delivers excellent service for customers, as well as in-person service at one of 14 branches across the United States, making it ideal for customers who want a straightforward online application but prefer not to sacrifice the level of service from brick-and-mortar locations.
J.G. Wentworth’s mortgage services are impressive. The company offers customers the ability to choose from fixed-rate or adjustable-rate mortgages. This is an advantage for customers who prefer to front-load their payment and get the lowest rates possible to start their repayment terms. J.G. Wentworth also issues loans for specific needs, servicing first-time buyers’ loans and mortgage refinancing loans that help consolidate an outstanding mortgage at more favorable conditions. It underwrites Veterans’ loans (VA), Federal Housing Act (FHA) loans, and Home Affordable Refinance Program (HARP) loans to customers who are unable to access traditional financing. Apart from issuing loans, J.G. Wentworth hosts educational resources for its potential borrowers, including a knowledgebase of articles on mortgages and home refinancing, as well as access to a live chat function where representatives answer customers’ questions in real-time.
Some excellent features from J.G. Wentworth:
Applying for a mortgage with J.G. Wentworth is a straightforward process. The company does not cover its application process in detail on its website, but they do employ an efficient system that helps customers reach the approved stages quickly. J.G. Wentworth places great emphasis on automating their application system, and this is clear when getting started with the process. Customers can fill out their paperwork online through the company’s web portal, and can even submit documents digitally, avoiding the need to visit one of the company’s physical locations. J.G. Wentworth even allows customers to e-sign documents, eliminating the need to print and sign several documents before rescanning them later. The company does prefer to work with customers the have good to excellent credit, asking that customers for their conventional mortgage loans have FICO scores of at least 620.
J.G. Wentworth is at the forefront of the industry, offering several kinds of loan options and terms that can fit in with any home buyer or refinancer’s budget and financial circumstances. The company offers both fixed-rate and adjustable-rate mortgages, with both alternatives featuring different terms. More than simple mortgages, however, the company stands out for its excellent offerings of non-conventional home loans.
J.G. Wentworth issues several federally-backed loan options for customers that qualify. These include:
Customers can opt for a traditional refinancing loan, which can lower their interest rates and monthly payments alongside helping borrowers save money to pay for other things like home improvement costs. Customers can also use refinancing to switch from adjustable-rate loans to a fixed-rate mortgage that will keep their rates from rising in the future.
When applying for a mortgage or refinancing with J.G. Wentworth, customers have an excellent range of options to repay their loans. It offers both fixed-term mortgages and adjustable-rate mortgages, with different repayment terms and benefits for each. The company’s fixed-rate offerings can have repayment terms of 15, 20, or 30 years, providing customers with an impressive range of alternatives, although longer terms have slightly higher interest rates. For adjustable-rate mortgages, customers can select from 5, 7, or 10 year options. Federally funded programs such as the FHA and HARP have unique terms, which J.G. Wentworth explains to customers who are eligible to select those routes.
Customers can reach J.G. Wentworth via email, telephone, and in some cases via a live chat feature directly on their website. Representatives are all knowledgeable about their services while able to confidently answer queries quickly and efficiently. Customers looking for help with their mortgages may not be able to use the live chat functionality, as the specifics of their service vary from state to state, requiring a call to a local loan officer. However, calls are responded to in short order, and emails are generally replied to in as little as one business day.
J.G. Wentworth offers an intriguing alternative for customers looking for mortgages or refinancing loans. The company’s diversity of mortgages lets a variety of customers find the financing they need to purchase a home. It has offerings for Federal loan programs including FHA and HARP loans, as well as the assistance provided for military veterans and their families. With efficient support and a great range of loan terms, both fixed and adjustable, J.G. Wentworth is an outstanding mortgage solution for customers from all walks, regardless of their credit status.
J.G. Wentworth Home Lending, LLC. NMLS ID # 2925
3350 Commission Court