Sierra Pacific Mortgage is the 10th largest privately held mortgage lender in the United States. The company has been in business for over 30 years and is headquartered in Folsom, California. Sierra Pacific Mortgage currently has over 130 branch locations across the US, is licensed to conduct business in 49 states, and offers a wide range of mortgage loan options as highlighted below.
Sierra Pacific Mortgage Types
Conventional Mortgage: Sierra Pacific Mortgage offers a conventional mortgage program for its customers at very competitive interest rates. Mortgages under this program are geared towards first-time home-buyers, and those seeking multiple properties like vacation homes and investment properties. The company offers a variety of mortgage loan duration terms out to 30 years with fixed-rate and adjustable-rate interest options.
FHA Mortgage: Sierra Pacific Mortgage offers a low down payment option under its FHA mortgage program. This program allows first time home buyers of all income levels with minimum acceptable credit the opportunity to purchase a home with a significantly lower down payment. In addition, under the Sierra Pacific Mortgage FHA program, a co-borrower can help you qualify even if that person does not live in the home.
Veteran Affairs (VA) Mortgage Program: Sierra Pacific offers VA mortgage loans for active military, honorably discharged veterans and qualifying reservist members. Mortgage loans under Sierra Pacific’s VA program require zero down payment, have no monthly mortgage insurance requirements, and carries significantly lower interest rates.
Refinance Loans: Sierra Pacific Mortgage provides mortgage refinance loans for its customers looking to take advantage of lower mortgage interest rates. So whether you are looking to consolidate date, wanting to improve your home or simply looking to change the duration of your current mortgage, Sierra Pacific has a number of refinancing alternatives to address your specific situation.
Sierra Pacific Mortgage Reviews & Complaints
As of 2017, Sierra Pacific Mortgage maintained an A+ rating according to the Better Business Bureau. Sierra Pacific’s customers have filed 27 complaints with the Consumer Finance Protection Bureau (CFPB) since 2011. This 27 figure seems to fall within the range for most mortgage related company complaints at the CFPB. Mortgage loan servicing and issues with the application process make up over 80% of the complaints submitted.
Sierra Pacific Mortgage Rates
Sierra Pacific Mortgage looks to offer competitive rates for its mortgage loan products but as a common practice we suggest homeowners and potential homeowners shop around for the best rates and as such recommend checking out our 60-second rate wizard to find the best mortgage rates available for you today.
Sierra Pacific Mortgage Announces New Version of ExpressLoan
In late 2016, Sierra Pacific Mortgage announced the launch of a new version of its online mortgage-banking platform, ExpressLoan. ExpressLoan offers a full-service suite of products for both originators and processors. In addition the company announced that it would be launching the first consumer direct technologies for its origination teams and the thousands of homebuyers that the company services every month in early 2017.
In regards to the new launch, Executive Vice President Chuck Iverson said, “Our new retail lending platform for consumers and originators will have a lot of enhancements that you would expect out of a consumer-direct platform,” Iverson said. “We think it’s very important to support our originators and our customers that way.”