Buying a home is an exciting but complicated process. It can be overwhelming to navigate the many options and decisions in securing a mortgage. That’s where mortgage brokers come in – they can help guide you through the process and find the best mortgage product for your unique situation. One of such broker is Nexa Mortgage.
Nexa Mortgage is a full-service mortgage company based in Chandler, Arizona. They specialize in every form of real estate finance, ranging from your home to your investment properties as well as financing you commercially.
Whether buying a new home, relocating to a new place, or refinancing, Nexa mortgage can help you actualize your dreams of owning a beautiful home or help you save your money when getting your new lower monthly payment. The refinancing option is designed to meet the needs of local borrowers.
However, like any lender or broker, Nexa Mortgage has its pros and cons, and it’s important to weigh them carefully before making a decision. In this review, we’ll look at Nexa Mortgage reviews, including its offerings, reputation, and benefits, to help you decide whether it’s the right choice.
Table of contents
What is Nexa Mortgage?
Nexa Mortgage is a mortgage broker that provides borrowers with a wide range of home loan options.
Basically, the company works with multiple lenders to find the best loan options for their clients, including conventional, FHA, VA, and jumbo loans. NM also offers refinancing options for existing homeowners looking to lower their monthly payments or access equity in their homes.
The company operates in all 50 states and has a team of licensed loan officers who provide personalized service to help clients navigate the mortgage process. Nexa Mortgage Company is only a broker and should not be identified as a mortgage correspondent or lender.
As a mortgage broker, NM helps borrowers find and obtain home loans from multiple lenders. The mortgage industry is a significant part of the financial services sector and is critical in the real estate market. The mortgage industry includes lenders, brokers, underwriters, and other professionals involved in the origination, processing, and servicing home loans.
What is a Mortgage Rate?
So many factors come into consideration when planning to finance your new home. However, if you’re looking to obtain a mortgage loan for financing your new home, then it’s essential to understand the mortgage rate of your brokerage company.
A mortgage rate is the interest rate a lender charges a borrower for a home loan. It is the percentage of the loan amount the borrower pays each year to the lender as compensation for borrowing the money. Mortgage rates can be fixed or adjustable. They can vary depending on various factors, such as the borrower’s credit score, the loan-to-value ratio, and the overall economic conditions. Mortgage rates can affect the monthly payments, the loan’s total cost, and the home purchase’s affordability.
Other factors you should consider before engaging in mortgage loans include collateral, principal, interest, taxes, and insurance.
Nexa Mortgage Interest Rate and Plan
Different factors will determine the best mortgage rate for financing your new home. But most significantly, your financial situation is a more vital determinant.
Nexa Mortgage Review offers two different mortgage plans:
- Fixed Mortgage Plans
- Adjustable Mortgage Plan ( ARM)
- Other packages include conforming loans, jumbo packages, FHA/VA/USDA package
Short-termed mortgage plans have lesser interest, but you must pay more monthly. This is compared to the ARM plan, where you hold for longer and pay lesser monthly.
What is the Current Nexa Mortgage Rate?
According to a February 2023 report by Zillow.com, the federal Nexa mortgage rate for a 30-year plan remains fixed at 6.67%. At the same time, the 15-year mortgage rate stays at 5.83%.
A complete break-down of the NM interest rate shows:
- Conforming. 6.298% +0.035.
- Jumbo. 6.367% +0.177.
- FHA. 6.217% +0.044.
- VA. 5.887% -0.039.
- USDA. 6.230% +0.020.
- 15-Yr. Conforming. 5.394% -0.130.
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Where is Nexa Mortgage Located?
Nexa Mortgage is a national mortgage broker with headquarters located in Chandler, Arizona. The company has multiple offices across the United States, with licensed loan officers working remotely and in person in many locations to assist clients with their mortgage needs.
How Long has Nexa Mortgage Existed?
Nexa Mortgage has been in existence for the past six years. It was founded in 2017 by Mat Grella, Mike Kortas, and Sam Stockham, and It is one of the fast-growing mortgage brokerages in the country. In 2018, the brokerage company had a record of 42 loan officers. Kortas and co, founded NM to make it the best place for all Independent loans.
How Big is Nexa Mortgage?
Nexa Mortgage is ranked the number mortgage broker in the USA based on a news report by Newswire.
In addition, many customers have left positive reviews on social media platforms like Facebook and Google. Customers have praised the company for its professionalism, transparency, and dedication to finding the right loan products for their needs.
See also: Mild Mortgage Review 2023 | Interest Rates and Plans
What Industry does Nexa Mortgage Belong to?
Nexa Mortgage belongs to the mortgage industry, specifically the mortgage broker sector. As a mortgage broker, NM is an intermediary between borrowers and multiple lenders to find their clients’ best mortgage loan options. So the company earns a commission for its services, which is paid by the lender that ultimately funds the borrower’s loan.
The mortgage industry is an integral part of the overall real estate market, as it helps people purchase and refinance homes by providing access to financing.
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Nexa Mortgage Reviews
It is essential to research any business opportunity thoroughly before investing any money or time. If you suspect a company is operating a pyramid scheme or any other fraudulent activity, you should report it to the appropriate authorities.
Some of the Nexa Mortgage reviews are:
Is Nexa Mortgage a Good Company to Work for?
According to Trustpilot, Nexa Mortgage has an overall rating of 4.9 out of 5 stars, based on over 2,000 reviews from verified customers. Customers praised the company’s efficient and responsive service, knowledgeable and friendly loan officers, and competitive rates.
NM has also received positive reviews from industry professionals. In 2020, the company was named a Top Mortgage Employer by National Mortgage Professional Magazine, and in 2021, it was called a Top Wholesale Mortgage Lender by Scotsman Guide.
What does Nexa Stand For?
Nexa is an acronym that stands for Network Exit Agreement—an acronym provided by NTS.
What is the Nexa Mortgage Vision Statement?
NEXA Mortgage is a brokerage that helps customers obtain loans for financing or refinancing their homes. The company is dedicated to serving with integrity, honesty, and competence while providing a memorable customer experience.
Nexa Mortgage’s primary focus is to help homebuyers secure the best possible mortgage loans for their needs. They may also continue to expand their offerings and services to serve their clients better and stay competitive in the mortgage industry. They may explore new technologies and tools to streamline the mortgage process or offer additional resources to help borrowers make informed decisions about their home loans.
Nexa Mortgage Loan Officers
The company employs loan officers who work with borrowers to help them find and secure mortgage loans. These loan officers are licensed and experienced professionals knowledgeable about the mortgage industry and can help guide borrowers through the loan process.
Nexa Mortgage loan officers work directly with borrowers to assess their financial situation and help them find the loan products that best fit their needs. They can guide and advise on various types of loans, including conventional, FHA, VA, and jumbo loans.
You can find Nexa Mortgage loan officers by visiting the company’s website and using the “Find a Loan Officer” tool. This tool allows customers to search for loan officers by location or name and provides information about each loan officer’s experience, contact information, and areas of expertise.
Nexa Mortgage loan officers are generally knowledgeable and willing to guide you through the loan process. However, experience may vary, so it’s best to reach out and communicate your needs before proceeding with the loan.
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Is Nexa Mortgage a Pyramid Scheme
There is no evidence to suggest that Nexa Mortgage is a pyramid scheme. NM is a legitimate mortgage brokerage company that connects borrowers with lenders to help them obtain mortgage loans.
Pyramid schemes, or Ponzi schemes, are illegal and fraudulent business models that involve recruiting individuals to invest in a program with the promise of high returns on their investment. The scheme relies on recruiting new members to pay earlier investors rather than generating profits through legitimate business activities.
Conversely, Nexa Mortgage requires no investment or recruitment to earn income. Instead, they earn revenue through lender commissions when connecting borrowers with loan products.
Researching any business opportunity thoroughly before investing any money or time is crucial. So, if you suspect a company is operating a pyramid scheme or any other fraudulent activity, you should report it to the appropriate authorities.
Conclusion
NEXA Mortgage is ranked as the fastest-growing mortgage broker in Arizona. Their primary goal is to provide friendly home loans to customers nationwide, and they do that with the lowest interest rates and closing costs possible.
By all means, Nexa Mortgage believes in customer care and customer relationship as a great way to foster trust and reliability. They are best for securing a home purchase loan, as their mortgage rates are affordable.
Also, remember that, like any business, Nexa Mortgage is in a competitive industry and faces financial risks and uncertainties. Therefore, individual experience will vary based on the financial and economic situation. Thus, it is essential to research multiple sources of information and speak directly with representatives from Nexa Mortgage to determine if the company is the right fit for your mortgage needs.
FAQS
The Mortgage broker determines the mortgage rates for lenders. Nexa Mortgage looks at factors like credit history, payment budget, and the potential home’s value before leasing out loans to a lender.
Additionally, external factors such as interest rate fluctuations, government regulation changes, and housing market shifts can all impact the company’s financial performance. Notwithstanding, Nexa Mortgage is committed to providing accessible mortgage loans for your housing by offering several loan options. Visit the official website to browse through their options.
Your interest rate reduction will vary depending on the lender, the kind of loan, and the state of the economy.
With each point you pay, you can occasionally see your interest rate reduced considerably. Sometimes, the amount of interest reduced for each point paid is less. (zolpidem)
Regardless of whether you pay points, each lender has their pricing system, and some lenders may generally be more costly or less expensive than others. Ask for the same number of points or credits from each lender when comparing offers from several lenders to see how the mortgage rates fluctuate.
According to Zippia.com, Nexa Mortgage had around 577 employees as of November 2022.
The official Nexa mortgage phone number is (602) 344-9333. You can also contact Nexa Mortgage through their official site at: Nexamortgage.com.
On the Nexa Mortgage official website, you’ll find free tools for checking your loan qualification and analyzing your budget.
Nexa Mortgage was established in 2017 with the aim of becoming the number one mortgage company for loan officers.
Nexa Mortgage offers services that include loans for new home purchases, refinancing, property evaluation, and rate analysis.
References
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