Mortgage Loan Consultant
I am a long-time resident of Fenton and have been a mortgage loan officer in the area for over 20 years. My team and I have extensive knowledge of conventional, FHA, Rural Development and VA mortgage loans.
I will walk you through each step from getting pre-approved, shopping for homes, and making an offer. I believe in treating every client and business partner with the care, service, and respect that I would expect someone to show me. With this principle in mind, it ensures satisfied clients and business partners which result in referrals into the future.
Whether you are purchasing your first home, buying a second home, or refinancing your current mortgage, I work hard to help each, and every client have a positive experience.
Commitment to excellence is our guiding principle and customer satisfaction is our guarantee. Borrowers are the foundation of Mortgage 1 and by providing exceptional service, we create customers for life.
Ready to set out on the journey of buying or refinancing a Michigan home? You can count on us to locate the Michigan mortgage loan program that’s perfect for you.
The huge number of refinance options available to borrowers is truly breathtaking. Let us help you qualify for the right loan program to fit your situation.
Get matched up to loan programs that meet your financial needs. We will let you know the amount you qualify for and provide you with a sample closing cost and payment worksheet.
One size doesn’t fit all. We are confident that one of our loan options will be perfect for you.
Conventional loans have a minimum down payment of 3% if you are a first-time home buyer (not owned within the past 3 years) or 5% if you are not a first-time home buyer. You can avoid PMI with down payments of 20% or greater.
Offers down payment assistance that can be used towards closing costs, and the down payment itself. The down payment assistance is repaid when the home is sold, the mortgage is refinanced, or the home loan is paid off.
An FHA loan allows borrowers to finance homes with down payments as low as 3.5% and is insured through the U.S. Department of Housing and Urban Development (HUD).
The VA loan is a mortgage option available to Veterans, Service Members and select military spouses with down payments as little as zero.
Rural Development Loan
USDA loans are zero-down-payment mortgages for rural and suburban home buyers.
We’ve had the opportunity to help hundreds of families in Michigan reach their dream of home ownership. Our drive and passion each day comes from seeing the joy on our clients faces.
Jim and his team were absolutely amazing to work with. The process was smooth and they kept us up to date with each step. Highly recommend him and his team.
Buying your first home is SO intimidating. There are so many terms and numbers to figure out, but Jim and his team made it such a clear-cut, easy to follow process! I would absolutely send my friends his way.
Great to work with, very helpful with the process of purchasing my first home. Would highly recommend working with him, and will work with him again in the future.
Mortgage 1 Pro Snap makes it easy to get a hassle-free mortgage from one of Michigan’s leading lenders. We have helped more than 102,000 families secure more than $14 billion in loans. Let us help you. Get started below. While you are at it, ask about Fast Pass, which lets you close your loan in minutes rather than hours. It’s fast, safe and hassle-free.
Why You Should Choose
While we specialize in helping first-time buyers find their dream home, we also help home buyers of all types, no matter whether you are refinancing, downsizing, or buying a second home. We have helped more than 87,000 home buyers realize their dreams of home ownership. We can do the same for you. Our first-class service and attention to detail make us Michigan’s preferred lender. Let us help you!
Contact Jim Papatheodore
Cell Phone: (810) 444-0024
Address: 100 S Adelaide St, Fenton, MI 48430
NMLS ID 131478
All borrowers are subject to qualification, underwriting approval, lender terms and conditions. This is not a commitment to lend. Restrictions apply. Mortgage 1 Inc. is not acting on behalf of or at the direction of MSHDA or the federal government. Mortgage 1 Inc. is not affiliated with your current lender. An LTV ratio above 80% may result in a need for mortgage insurance. Online homeownership education may be required. Intended for the State of Michigan. All Rights Reserved.
There are a lot of mortgage refinance options available. Complete the form below and we will provide you with a free, no obligation quote for the right loan program to fit your situation.
What are your reasons for refinancing? Keeping in mind the following will help you begin your decision process.
Lowering Your Payments
Are your refinance goals to lower your rate and consequently your mortgage payments? In that case, the best option could be a low fixed-rate loan. Perhaps you are now in a loan with a high, fixed interest rate, or a mortgage loan in which the interest rate varies – an adjustable rate mortgage (ARM). Different that the ARM, your low fixed-rate mortgage will stay at a certain low rate for the life of your mortgage loan, even when interest rates rise. If you are planning to stay in your home for at least five more years, a fixed rate mortgage may be a particularly good option for you. But if you do expect to move more quickly, you will need to consider an ARM with a low initial rate to get reduced monthly payments.
Are you wanting to cash out some of your equity with your refinance? It could be you’re dreaming of a cruise; you need to pay tuition for your college-bound child; or you are updating your kitchen. In this case, you will want to qualify for a loan for more than the remaining balance of your current mortgage.With this goal, you will need If you’ve had your current mortgage for a long time and/or have a loan whose interest rate is high, you mightcould be able to do this without increasing your mortgage payment
Do you hold other debt, maybe with a higher interest rate, that you’d like to consolidate? If you own any debt with higher interest (like credit cards or car loans), you may be able to take care of that debt with a lower rate loan through your refinance, if you have the right amount of equity.
Building up Equity More Quickly
Are you hoping to fatten your home equity faster, and get your mortgage paid off more quickly? In that case, you’ll want to find out about refinancing to a short term mortgage loan – for example, a fifteen-year mortgage loan. You will be paying less interest and increasing your equity more quickly, although your monthly payments will usually be more than they were. But, you may be able to switch without much increase in your monthly payment if your longer term mortgage loan was closed a while back, and the remaining balance is low enough. You could even make it lower! To help you understand your options and the numerous benefits in refinancing, please call us at 810-373-2150. We are here for you.
Curious about refinancing your home loan? Give us a call at 810-373-2150.
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