LoanLeaders of America Inc – A Trusted Mortgage Lender

Purchasing a home is likely the biggest financial decision most people will make in their lifetime, Finding the right mortgage lender to help finance that dream is key LoanLeaders of America Inc has been providing affordable home loans to borrowers for over 20 years

In this in-depth review we’ll explore LoanLeaders of America’s background loan products, customer service, lending requirements, and more. Read on to see if they may be the right mortgage partner for your needs.

Overview of LoanLeaders of America Inc

LoanLeaders of America Inc is a nationwide mortgage lender headquartered in Irvine, California. They’ve been in business since 1999 and are licensed to operate in multiple states.

The company focuses on conventional, FHA, VA, and jumbo home loans. Their goal is to offer personalized service combined with fast turnaround times and competitive interest rates.

LoanLeaders of America employs over 25 mortgage professionals. They have an A+ rating with the Better Business Bureau based on their time in business, licensing, accountability, and customer complaint response.

Loan Products Offered

LoanLeaders of America offers a full suite of mortgage products for both home purchases and refinancing:

Conventional Loans – Including fixed and adjustable rate options. Ideal for those with good credit and down payments.

FHA Loans – Allowing down payments as low as 3.5% and flexible credit requirements Popular with first-time buyers.

VA Loans – With zero down payment options for qualifying military members and veterans.

Jumbo Loans – For high-balance mortgages above conforming loan limits. Often used in high cost areas.

Refinancing – Rate/term refinancing and cash-out refinancing options to save money or tap home equity.

Within each loan type, borrowers can choose from 15 and 30 year repayment terms along with fixed or adjustable interest rates. LoanLeaders also handles construction/renovation financing options.

Why Consider LoanLeaders of America?

There are many mortgage lenders to choose from, so why should you consider LoanLeaders? Here are some of their biggest advantages:

• Industry experience – Over 20 years of mortgage lending expertise.

• Customer focus – A commitment to personalized guidance and support.

• Streamlined process – Mortgage approvals in as little as 5-7 days.

• Competitive pricing – Interest rates and closing costs that match industry norms.

• Positive reputation – Numerous 5 star customer reviews praising their services.

• Range of financing – Loans for all needs from jumbo to FHA to VA options.

• Purchase and refi – Lending services whether you’re buying or refinancing.

The company’s commitment to fast approvals, affordable pricing, and unmatched support makes them an attractive choice.

Customer Reviews and Reputation

LoanLeaders of America maintains an excellent reputation based on customer feedback. They have a 4.8 out of 5 star rating on Google Reviews based on over 175 reviews. Customers consistently cite their professionalism, responsiveness, market expertise, and ability to get deals done.

They have an A+ rating with the Better Business Bureau, which few lenders achieve. The BBB measures factors like ethical business practices and proper licensing. Out of 2 closed complaints over 3 years, LoanLeaders responded appropriately showing their accountability.

Industry sites like LendingTree also showcase nearly perfect 5 star ratings for LoanLeaders from previous borrowers. The company seems to consistently satisfy customers across review platforms.

Loan Application Process and Timeline

The loan application process with LoanLeaders of America follows these general steps:

• Pre-approval – Get pre-qualified online in minutes to estimate costs.

• Application – Formally apply by submitting documents/details. Takes about 15 minutes.

• Processing – LoanLeaders processes and verifies your application info within 1-3 days.

• Underwriting – Loan decision within 1-2 days after processing completes.

• Closing – Schedule your closing for about 30 days out from application.

• Funding – Receive your funding 1-2 days after closing.

While exact timeframes vary case-by-case, their streamlined process allows loan approvals in as little as 5-7 days from completed application to closing. Average across lenders is 15-20 days.

LoanLeaders Mortgage Rates and Fees

As a mortgage broker, LoanLeaders offers competitive industry rates by shopping your loan to various investors and lenders. Interest rates vary daily based on market conditions, your credit score and down payment amount, and other factors.

In general, expect rates around:

• Conventional – 3.5% to 5.5% fixed, 2.5% to 3.5% adjustable
• FHA – 3.5% to 4.5% fixed
• VA – 2.5% to 3.5% fixed
• Jumbo – 3.75% to 4.5% fixed

Closing costs average $3,000 to $6,000, including appraisal, title fees, and more. LoanLeaders offers a $545 lender credit to help offset costs. There are no origination or application fees.

Always compare rates across multiple lenders. LoanLeaders of America strives to offer highly competitive pricing.

Minimum Credit Scores and Eligibility

To qualify for financing with LoanLeaders of America, you’ll need:

• Minimum 620 credit score for conventional loans
• Minimum 580 score for FHA
• No minimum for VA loans
• Stable income and employment history
• Low debt-to-income ratio (ideally under 50%)
• Sufficient assets for downpayment and closing costs

Higher credit scores in the 670+ range will qualify you for the very best interest rates. Downpayment requirements vary by loan type from 0% on VA loans to 20% on conventional jumbo loans.

LoanLeaders does have programs to help borrowers who fall slightly outside guidelines still qualify by considering additional factors. They work hard to get clients approved.

Is LoanLeaders of America Recommended?

LoanLeaders of America has built a sterling reputation over 20+ years in mortgage lending. They offer personalized guidance, fast turnaround times, and competitive market rates across a wide range of mortgage products. Customer feedback indicates high levels of satisfaction.

While every lender has a few negative reviews, LoanLeaders seems to consistently satisfy borrowers based on their positive 4.8/5.0 ratings across review sites. They are accredited by the Better Business Bureau with zero outstanding complaints.

For borrowers seeking an efficient loan process, excellent customer service, and affordable pricing, LoanLeaders of America is definitely a recommended mortgage lender to consider both for home purchases and refinancing. Be sure to shop and compare rates, but they should certainly make your short list of top lenders.

The Bottom Line

Finding the best mortgage lender involves weighing many factors like experience, reputation, rates, and satisfaction. LoanLeaders of America checks all the right boxes as a trusted industry leader able to meet the needs of most borrowers. Don’t take our word for it – their 20+ years in business and hundreds of 5-star customer reviews speak for themselves.