Norcom Mortgage is a well-established mortgage lender serving customers for over 30 years. With a wide range of mortgage options and competitive rates, Norcom mortgage is an excellent choice for those looking to buy a new home or refinance their existing mortgage.
In this Norcom Mortgage review, we will take a closer look at Norcom’s products and services, as well as its reputation and customer service, to help you decide if it’s the right lender for you. Overall, Norcom Mortgage is popular for its excellent customer service and competitive rates, making it a great choice for those in the market for a new home loan.
Table of contents
- About Norcom Mortgage
- What are Norcom Mortgage Plans?
- How is Norcom Mortgage Rated?
- Norcom Mortgage Interests and Loans
- Norcom Mortgage Credit Score Requirement
- Norcom Mortgage Payment
- Is Norcom Mortgage a Good Company to Work For?
- Is Normcom Mortgage a Good Company to Work For?
- What Forms of Payment are Accepted at Norcom Mortgage?
- What is Norcom Mortgage Clause?
- What is Norcom Mortgage Salary?
- What is Norcom Mortgage Address?
- Norcom Mortgage Contact
- How to Apply for Loan With Norcom Mortgage
- Conclusion
- References
- We Also Recommend
About Norcom Mortgage
Norcom Mortgage is a residential mortgage lender that has been in business for more than 30 years. The company is based in Connecticut and serves customers throughout the United States. They offer a wide range of mortgage products, including Conventional, FHA, VA, USDA, Jumbo, and Reverse Mortgages.
They also have a variety of loan options, such as fixed and adjustable rate mortgages, as well as refinancing options. Norcom Mortgage provides excellent customer service and competitive rates to its customers.
They have a team of experienced loan officers that can help customers navigate the mortgage process and find the right loan option for their needs.
Now, get all the information you need in this Norcom mortgage review.
See: United Faith Mortgage Review 2023: Interest Rates, & Plans
What are Norcom Mortgage Plans?
Norcom Mortgage offers a wide range of mortgage plans to meet the needs of its customers. Some of their most popular plans include:
- Conventional Mortgages: These are mortgages that are not insured or guaranteed by the government. They are available in fixed or adjustable rate options and you can use them to purchase a new home or refinance an existing mortgage.
- FHA Mortgages: These are mortgages insured by the Federal Housing Administration (FHA). They are available to borrowers with lower credit scores and serve to help first-time homebuyers or those with limited down payment funds.
- VA Mortgages: These are mortgages guaranteed by the Department of Veterans Affairs (VA). They are available to eligible veterans, active-duty service members, and certain surviving spouses.
- USDA Mortgages: These are mortgages guaranteed by the United States Department of Agriculture (USDA). They are available to borrowers in rural areas and serves to help low-income families purchase a home.
- Jumbo Mortgages: These mortgages exceed the conforming loan limit Fannie Mae and Freddie Mac set. You can use them to purchase high-end homes or refinance existing mortgages.
- Reverse Mortgages: These are a particular type of mortgage that allows homeowners who are 62 years or older to convert a portion of their home equity into cash.
It’s worth noting that Norcom Mortgage also offers special programs such as a first-time homebuyer program, a down payment assistance program, and refinancing options. It is advisable to check with a Norcom Mortgage representative to know more about each program’s specific requirements and terms.
How is Norcom Mortgage Rated?
It isn’t easy to find an overall rating for Norcom Mortgage, as ratings can vary depending on the source. However, looking at customer reviews and testimonials, the company generally has a positive reputation for providing good customer service and competitive rates.
On popular review websites such as Yelp and the Better Business Bureau (BBB), Norcom Mortgage generally has high customer ratings. On Yelp, the company has a 4.5-star rating based on over 100 reviews, with many customers praising the company’s customer service and competitive rates. Also, on the BBB, Norcom Mortgage has an A+ rating, the highest possible rating, based on customer reviews, complaints, and other factors.
It’s worth noting that Norcom Mortgage also has received recognition and awards from industry experts. They have since been one of the top mortgage lender by publications such as Scotsman Guide, Mortgage Executive Magazine, and National Mortgage News.
Based on the customer reviews, industry recognition, and awards, it appears that Norcom Mortgage is a reputable and reliable lender with a good reputation for providing good customer service and competitive rates.
Norcom Mortgage Interests and Loans
Norcom Mortgage offers a variety of loan products, so the interest rates will vary depending on the type of loan you choose. Some of the loan products that Norcom Mortgage offers are:
- Conventional loans
- FHA loans
- VA loans
- USDA loans
- Jumbo loans
- Refinancing options
Interest rates for these loans will vary depending on the type of loan, the borrower’s credit score, the loan-to-value (LTV) ratio, and other factors. They also offer both fixed-rate and adjustable-rate mortgages (ARMs).
Interest rates can fluctuate, and it is best to check with Norcom Mortgage directly for the most current interest rates. Also, It’s always a good idea to shop around and compare rates from different lenders to ensure you’re getting the best deal possible.
Norcom Mortgage Credit Score Requirement
The credit score requirements for a mortgage loan from Norcom Mortgage will vary depending on the type of loan you are applying for and the specific underwriting guidelines of the program you want. However, Norcom Mortgage generally requires a minimum credit score of 620 for most loan products.
For conventional loans, Norcom Mortgage typically requires a minimum credit score of 620 for a fixed-rate mortgage and 660 for an adjustable-rate mortgage. For FHA loans, the minimum credit score requirement is typically 580. Also, for VA loans, the minimum credit score is typically 620.
A higher credit score can make you eligible for better interest rates and more favorable loan terms. A credit score of 740 or above is excellent and will qualify borrowers for the best interest rates.
It’s important to remember that credit score is just one of many factors that are considered when approving a mortgage loan, and having a lower credit score doesn’t necessarily mean you will be denied. Other factors such as income, employment history, and debt-to-income ratio will also play a role.
It’s also worth noting that Norcom Mortgage also offers special programs such as the First-time homebuyer program and down payment assistance program, which may have different credit score requirements. It’s advisable to check with a Norcom Mortgage representative to know more about specific credit score requirements for each program.
Norcom Mortgage Payment
Norcom Mortgage offers several options for making mortgage payments. The most common methods include the following:
- Online Bill Pay: Customers can log in to their online account to make payments using a checking or savings account.
- Automatic Payment: Customers can set up automatic payments to be debited from their checking or savings accounts on the due date of their mortgage payment.
- Phone Payment: Customers can make payments over the phone by calling Norcom Mortgage customer service.
- Mail Payment: Customers can mail a check or money order to the Norcom Mortgage payment address.
- Wire Transfer: Customers can make payments via wire transfer from their bank account.
- Credit or Debit Card: Some Norcom Mortgage offices may accept credit or debit card payments.
It’s important to note that customers should always allow enough time for their payment to be received by the due date to avoid late fees. Also, some methods may have associated costs, so it’s best to check with a Norcom Mortgage representative to know more about the fees and the best plan for you.
Customers should also note that if they have difficulty making payments, Norcom Mortgage has a Loss Mitigation Department that can assist with workout options, such as loan modification or forbearance plans.
Also, see Contour Mortgage Review 2023: Interest Rates & Plans.
Is Norcom Mortgage a Good Company to Work For?
Norcom Mortgage is generally well-regarded as a company to work for. According to employee reviews on sites such as Glassdoor, the company has a positive reputation for providing a good working environment and opportunities for growth. Many employees have reported enjoying working for the company and appreciating the supportive and collaborative culture.
Employees have also praised the management team, stating they are knowledgeable and approachable, providing guidance and support. Some employees have also reported that the company offers benefits such as health insurance, 401k, and paid time off.
However, as with any company, opinions may vary from employee to employee. Some have reported that the workload can be high and the pace fast, which can be challenging for some employees.
Overall, Norcom Mortgage is an excellent company to work for, with a supportive and collaborative culture, good benefits, and growth opportunities. It’s worth noting that it’s always a good idea to research and gather information from various sources to make the best decision for yourself.
Is Normcom Mortgage a Good Company to Work For?
To get specific information about working for Norcom Mortgage, you can research the company by checking out employee reviews on websites such as Glassdoor.
Employee reviews can provide insight into working at a company, including information about the company culture, management, compensation, and benefits.
Additionally, you can reach out to current or former employees of the company and ask them about their experiences working there. This will give you a better idea of whether or not Norcom Mortgage is an excellent company to work for.
What Forms of Payment are Accepted at Norcom Mortgage?
Norcom Mortgage offers multiple options for making mortgage payments, including online bill pay, automatic payments, phone payments, mail payments, wire transfers, and credit or debit card payments (at certain offices).
It’s important to note that some forms of payment may have additional fees, and you may have to check with a Norcom Mortgage representative for more information on fees and the best form of payment for you.
Also, it’s crucial to ensure that you have enough funds in your account to cover the payment and submit it on time to avoid any late fees.
The company offers a range of payment options to ensure that customers can make their payments in the most convenient way. Customers can select the best suits their needs and circumstances with various methods.
What is Norcom Mortgage Clause?
A mortgagee clause is a provision in a mortgage contract that identifies the lender (the mortgagee) as the party to whom the borrower (the mortgagor) is obligated to make payments. In the case of Norcom Mortgage, the mortgagee clause would typically include the name of the lender, Norcom Mortgage, and their contact information, such as their address and phone number.
The mortgagee clause also gives the lender the right to foreclose on the property if the borrower fails to make their mortgage payments. It’s essential to review the mortgagee clause carefully before signing a mortgage contract, as it outlines the rights and responsibilities of both the borrower and the lender.
It is worth noting that the mortgagee clause also includes information about the insurance. For example, if the property is required to be insured by the borrower, the mortgagee clause will consist of the requirement and the type of insurance needed. It is advisable to review the mortgagee clause and the mortgage agreement to understand the terms and conditions of the loan.
What is Norcom Mortgage Salary?
The salary for employees at Norcom Mortgage will vary depending on the position and experience of the individual. According to salary data on Glassdoor, the average salary for a Loan Officer at Norcom Mortgage is $70,000 annually. However, this can vary depending on the employee’s experience, location, and other factors.
The salary for other positions, such as underwriters, processors, and managers, also varies, but generally, they range between $50,000 to $80,000 per year. It’s worth noting that salaries can also vary depending on the location and the cost of living in that area.
It’s worth noting that the salary information is based on self-reported data, and it is always a good idea to research and gather information from various sources to make the best decision. Norcom Mortgage also offers incentives and bonuses for their employees, which can positively affect their salaries.
Norcom Mortgage Intern Salary
We do not have specific information about the intern salary at Norcom Mortgage. However, the salary for an intern at a mortgage company can vary depending on factors such as location, company size, and the intern’s qualifications and experience.
Typically, internships are unpaid or low-paid positions but offer students or fresh graduates the opportunity to gain experience in the industry. Some companies provide benefits such as housing stipends, health insurance, or even tuition reimbursement.
It’s best to check with Norcom Mortgage directly or check job listing boards such as Indeed or Glassdoor for current intern salary information. The salary may be one of many important factors to consider when evaluating an internship opportunity. The experience and learning opportunities one gains can be valuable in the long run.
Also, see Flat Branch Mortgage Review 2023: Interest Rates & Plans.
What is Norcom Mortgage Address?
The main office address of Norcom Mortgage is:
Norcom Mortgage 195 Church Street Avon, CT 06001
It’s worth noting that Norcom Mortgage has multiple branches across the United States, so the address may vary depending on the location. You can check their website or contact Norcom Mortgage customer service for the specific branch address you are looking for.
Norcom Mortgage Contact
The best way to contact Norcom Mortgage is by visiting their website, where you will find information about their products and services and a contact form that you can use to send an email or request a callback. They also have a phone number and email address available on their website.
You can also find Norcom Mortgage on social media platforms such as Twitter, Facebook, and LinkedIn, where you can get updates on their products and services and reach out through their messaging feature.
Here’s the contact information I found on their website:
- Phone: (800) 750-9023
- Email: [email protected]
- Address: Norcom Mortgage, 195 Church Street, Suite 1, Newington, CT 06111
Please note that the information may be subject to change. You may want to check Norcom Mortgage’s website for the most recent and accurate information.
How to Apply for Loan With Norcom Mortgage
To apply for a loan with Norcom Mortgage, you can follow these steps:
- Visit Norcom Mortgage’s website and navigate the “Apply Now” section.
- Choose the type of loan you want (e.g., Conventional, FHA, VA, etc.) and fill out the online application form with your personal and financial information.
- Submit the application form and any required documentation, such as proof of income, employment, and assets.
- A loan officer from Norcom Mortgage will review your application and contact you to discuss the next steps.
- A loan officer will guide you through the process and assist you with the following steps, including getting pre-approved.
- Provide any additional documentation requested by the loan officer, such as income, employment, and assets verification.
- Once approved, you’ll be asked to sign the loan documents and provide any additional information needed.
- After all, the documents are signed and all the information is provided, your loan will be funded, and you’ll receive the money you need to buy your home.
It’s important to note that the process may vary depending on the type of loan and the specific requirements of Norcom Mortgage.
Additionally, the process may take some time, and you should be ready to provide personal and financial information and documentation. It’s always a good idea to check with Norcom Mortgage directly for the most current and accurate information about the loan application process.
Conclusion
Norcom Mortgage is a reputable mortgage lender that offers a wide range of home loan options, including conventional, FHA, VA, and USDA loans and jumbo loans and refinancing options. They have been in business for many years and possess the license to operate in several states. They offer competitive interest rates and fees, making them a good option for purchasing or refilling a home. Also, they have a team of experienced loan officers who will guide customers through the process and ensure they understand all their options to make an informed decision. However, as with any financial institution, it’s always an excellent idea to research and compare different lenders before deciding to ensure you are getting the best deal and service possible.
We hope you found this norcom mortgage review helpful.
References
- norcommortgage.com – About Norcom Mortgage
- zillow.com – Norcom Mortgage Review
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