GO Mortgage Review: Interest Rates, & Plans

Whether you’re buying a home or another property or looking to refinance the one you already own, the experienced team at GO Mortgage will help you find a loan that fits your needs.

They have excellent reviews and, of course, great ratings. GO Mortgage should be your best bet if you are interested in a mortgage.

In this article, you will learn who they are, why you should use them, and answers to several other questions that could make your journey through getting GO Mortgage worth it.

Let’s dive right in.

Who is GO Mortgage?

GO Mortgage is a company that makes home financing simple, fast, and efficient. For over 25 years, they’ve been strengthening communities by delivering uncommonly good solutions not commonly found elsewhere. They allow people to take ownership of their lives as they take ownership of their homes.

They devote themselves to the life of a home at every stage, from searching to purchasing to maintaining to building wealth.

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Is GO Mortgage Worth it?

Absolutely. GO Mortgage offers many loan options but is only licensed in some states. You would have access to:

A diverse range of home loan products

GO Mortgage isn’t the only company that offers conventional, jumbo, and government-backed loans. However, the lender goes above and beyond by including all eligible Fannie, Freddie, VA, and FHA loan products in those loan programs.

It also provides reverse mortgages, home equity lines of credit (HELOCs), nonqualified mortgages, construction loans, and renovation loans, among other services.

GO Mortgage may have what you’re looking for, whether a more standard loan program or a specialty option.

The lender’s only notable omission is a home equity loan, but it does offer HELOCs and cash-out refinances.

Online and mobile mortgage applications

GO Mortgage makes it simple for tech-savvy individuals to complete the mortgage process from start to finish online or via the lender’s mobile app.

When you’re ready, you can apply for a loan online. You can also download the lender’s mobile app, start an application or preapproval, calculate payments, scan and upload documents, and track your progress.

To complete the loan process, you can use e-closing. In other words, you can digitally sign your loan documents rather than having to do so in person — a significant benefit for those seeking an entirely or primarily digital process.

Even if you aren’t ready to apply, you can still view the lender’s fixed-rate conventional loan interest rates. You would then get a rate quote for comparison purposes — though rates for adjustable-rate traditional loans and other loan programs aren’t available.

It is only available in some states

GO Mortgage is only licensed in 37 states and the District of Columbia, so there is a limit to buying in one of those states if you use this lender. Furthermore, the lender only has licensed home loan advisors in some 37 states.

Before applying, you should look at the lender’s state map on its website to see if GO Mortgage has a license in the state where you want to buy.

Have you seen the GMFS mortgage review? Read: GMFS Mortgage Review 2023: Interest Rates & Plans

Who can benefit from a GO Mortgage loan?

GO Mortgage provides loans to a variety of homebuyers. However, as previously stated, you must purchase in a state where it is legally permitted to operate.

If you live in an eligible area and require a specialty loans product, such as a loan for first-time homebuyers, renovations, or new construction, they can help.

Prospective homebuyers who prefer a digital mortgage experience may also indicate interest. While GO Mortgage does not have licensed home loan advisors in all the states, you can get everything you need to complete the application process through the lender’s website and mobile app.

Finally, GO Mortgage is worth considering if you want to fill out only part of the application to compare rates. While the daily rates listed on its website are only for fixed-rate conventional loans, they indicate whether the lender offers lower interest rates than what you currently have.

Before applying, you can also request a personalized rate quote, which may make it easier to compare GO Mortgage to other lenders you’re considering.

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How to Get a GO Mortgage Loan?

Since GO Mortgage’s website does not list eligibility requirements, it may be a good idea to review general eligibility criteria for most major home loan programs before applying.

Request a rate quote before applying to understand better what you may qualify for compared to other lenders. When ready to apply, create an account and fill out the online application. You can use the lender’s mobile app if you prefer to use your phone.

GO Mortgage does not specify which documents you will have to provide, but you should expect to provide-

  • Proof of income and employment
  • Bank statements and other income documents
  • A government-issued ID, and
  • Other personal information.

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What are the Pros and Cons of a GO Mortgage?

GO Mortgage is a direct lender that offers a wide range of home loans for purchase and refinances. Below are the pros and cons-

Pros

  • Provides several mortgage products.
  • Provides daily rates for conventional fixed-rate loans.
  • Online applications and rate quotes are possible.

Cons

  • Only available in some states.
  • There are no daily rates for adjustable-rate loans.

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How to Apply for GO Mortgage? Step-by-Step Guide

Whether you’re buying a home or refinancing, the staff at GO mortgage would work with you to find the right loan and meet your financing goals.

Step 1

Tell them about your financing requirements. They would recommend options based on their vast experience.

Step 2

They submit your application, gather documentation, and work through the loan process with you.

Step 3

When your new Mortgage gets approved, you close on it, completing the next step in your financing goals.

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How do I know how much money I can afford to spend on a Home or Property?

The GO mortgage team can help you understand your financial situation and how it relates to the property you want to buy.

Consider ongoing costs, such as your monthly loan payment, property taxes, insurance, and maintenance expenses, when considering whether you can afford a new home or other property.

Knowing your qualifying interest rate, down payment amount, and loan term length will help determine how much you can afford based on your current income and expenses.

Before you make up your mind on a mortgage, you should read: Amerihome Mortgage Review 2023: Interest Rates & Plans.

What should I know about possible loan options?

GO Mortgage would assist you in considering factors that may affect your loan’s affordability. This includes the length of your loan’s term or how long you pay it back.

They’ll also help you understand your total loan amount and how to get a loan that comfortably covers the property’s value you want to buy or refinance. Your interest rate is also a consideration. They can help you understand how the market and your finances affect it.

When is the Best Time to Refinance my Home?

Refinancing allows you to lower your monthly loan payment and interest rate and borrow cash from the equity in your home. After owning the property for more than six months, you may be able to refinance.

It would be best if you also considered whether the closing costs or any other costs associated with refinancing are worthwhile. Lowering your interest rate and monthly payments is helpful if the additional costs of refinancing.

See this article: CrossCountry Mortgage Review 2023: Interest Rates & Plans.

How do I contact GO Mortgage?

Where is GO Mortgage Located?

There are a lot of locations where GO Mortgage is located. The most popular are:

What Loan Products do GO Mortgage Offer?

Reviews of GO Mortgage

  • Years of experience in the industry- 28 years
  • Loans totaled- $25 billion.
  • Average closing time- 27 days
  • Overall lender rating of 4.0 out of 5
  • Average house specifics- 720-739 credit score
  • ZIP: 77009
  • Price: $300,000
  • Deposit: 20%

Frequently Asked Questions

Who is the most generous Mortgage?

Nottingham Building Society provided the highest loan amount for remortgages, followed by Leeds Building Society and NatWest.

Is it preferable to use a local bank or mortgage lender?

There is no definitive answer as to whether a mortgage lender or a bank will provide a better rate. Your mortgage rate depends primarily on your credit score, the amount of debt you already have, the location of your property, your down payment, and the size of the loan you are applying for.

What is the simplest type of Mortgage to obtain?

FHA loans. FHA loans have less stringent credit and income requirements, and you can get a mortgage with as little as 3.5% down.

What lenders are the most easily approved?

Payday loans, car title loans, pawnshop loans, and personal loans with no credit check are the most accessible loans to get approved. These loans provide quick funding and have minimal requirements, making them accessible to people with bad credit.

What are the riskiest mortgage loans called?

Adjustable-rate mortgages (ARMs) are a hazardous choice for borrowers in less-than-ideal financial situations due to fluctuating interest rates. In fact, some fixed-rate mortgages can be problematic in the wrong circumstances.

Conclusion

To increase your chances of getting your loan approved, fix and improve your credit, adjust your debts and income, and consider getting a co-signer.

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References

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