Ditech Mortgage Loans

Online Advantage

Ditech.com has grown to be one of the largest mortgage companies in America, and part of that success is due to the convenient availability of services. Buyers interested in Ditech mortgage loans are not limited to office hours. Online capabilities allow customers to communicate with well-informed loan agents from home, work, or on the road. These online services meet customer's needs 24 hours a day, 7 days a week. These unique full-service methods deliver competitive rates and a stress-free loan experience from the comfort of your home. Another advantage of applying online with Ditech.com is that (if eligible) you get loan pre-approval within minutes.

Flat-Fee Ditech Mortgage Loans

Ditech.com utilizes assertive advertising strategies that focus on select loan types which appeal to a wide range of borrowers. They were one of the first to initiate flat-fee lender programs. Benefits of the $395 flat-free loan include no broker or middleman fees, no points to pay and savings of thousands of dollars in closing costs. Flat-fee Ditech mortgage loans are available for first time home buyers.

These flat-fee loans have grown in popularity because they lessen consumer concerns about hidden lending fees. The $395 fee covers appraisal, credit report, flood determination, and courier service. However, those considering a flat-fee loan need to know that the $395 does not cover everything. Buyers are still responsible for:

• Rate lock fees
• Outstanding property lien
• New loan interest costs
• Private Mortgage Insurance (PMI)
• Buyer’s title insurance
• Association fees
• New loan interest costs
• Certifications
• Property insurance
• Yitle fees
• Escrow fees
• Interest fees
• Recording fees
• Settlement/closing fees
• Attorney fees
• Survey fees
• Taxes
• Seller fees

Buyers are also required to put down a $500 deposit. Depending on your state's requirements, other fees may apply. Due to the fact that rates and terms may vary, it’s best to contact Ditech.com for specific details or more information.

Fixed Rate Ditech Mortgage Loans

Ditech.com also offers 30-Year Fixed Rate loans. Fixed rate Ditech mortgage loans are amortized with one fixed interest rate for the whole term of the mortgage. The borrower pays the same monthly payments for the life of the loan which offers borrowers living on a fixed or limited income the advantage of setting aside a fixed amount each month without the threat of an unpredictable rise.

Adjustable Rate Mortgage Loans

Ditech.com's Adjustable Rate Mortgage rate is fixed for the first three, five, or seven years. An adjustable rate mortgage provides buyers with the security of knowing the amount of their monthly payments for the first few years while enjoying a lower rate than would have been possible with a fixed rate loan. An adjustable mortgage provides buyers with greater purchasing power while incurring lower monthly payments. However, it’s important to remember that once the initial fixed rate period ends, the mortgage converts to an adjustable rate mortgage. Rates are adjusted once a year based on the current rate index.

Second Mortgages

Ditech.com also offers what they call their 80/20 Home Loan Program. 80/20 denotes the percentage of the home value for each mortgage. The first loan is for 80% of the value of the home. The second loan is for 20% of the value of the home which can then be used as the down payment. The 80/20 program reduces out of pocket expenses and allows buyers to avoid paying Private Mortgage Insurance by combining two home loans into one. Through this program, Ditech.com allows buyers to piggyback a second mortgage onto a first mortgage.

Home Loans for Employees

The ditechatwork.com program allows employers to include assistance with owning a home within their employee benefits. Through this program, Ditech supports small and large businesses by helping them integrate special mortgage programs into the company's employee benefits programs. This specialized benefit helps employees reach the dream of becoming a homeowner and entitles employees to either an eighth of a percent off the national rate or up to $750 off closing costs on approved products.

Ditech Continues to Grow

Ditech.com continues to grow and remains committed to expanding its customer base while also appealing to the specific needs of an increasingly diverse group. Ditech.com's tools and calculators aid in knowing how much you can afford and to help choose Ditech mortgage loans that are right for you. The online process is simple and convenient, allowing buyers to complete applications online and even check the status of a submitted loan.