New Year, New House? Find Out More About a Mortgage at The Wharf!


January 29, 2019

New Year, New House? Find Out More About a Mortgage at The Wharf!

The new year is not always filled with resolutions to lose weight; sometimes it’s more about making milestones in the journey of your life. Like trying to buy your first home.

Buying your first home can be hard and a little confusing. We have done a little digging in the mortgage world and have come up with some common questions about the mortgage process to ask our very own mortgage companies here at The Wharf: NOLA Lending Group and Movement Mortgage.

If you have more questions about any kind of mortgage process—or if you’re in the market to move to our beautiful location—they would love to help you find the perfect vacation unit here at The Wharf.

Don’t forget to come to our Snowbirds Day Out February 8th and have a tour of the available condos for sale during The Wharf Retail Management’s open house!


1. What are the costs when getting a mortgage?

NOLA Lending Group: The main costs to understand when buying a home are closing cost, down payment, and your monthly payment (which includes principal, interest, taxes, and insurance).

2. How do student loans effect a mortgage?

Movement Mortgage: Different programs have different parameters that we have to employ during a process. Some will call for loans that are not yet in repayment to be calculated at 1% of the balance for the payment, and some don’t. Much like the costs, it will just depend on the loan program you go with.

3. Are you equipped to approve loans in-house?

NOLA Lending Group: Yes, that is what makes us so successful and competitive.

Movement Mortgage: We are absolutely equipped to do that. We are a company that is in 49 states, and has 4300 employees. We have a large pool of underwriters that work in our National Sales Center in South Carolina.

4. What kind of credit is required to get a mortgage with you?

Movement Mortgage: This depends on the loan program. Some programs will allow for credit scores as low as 580, and then some start around 620. Conventional loans, FHA loans, and VA loans all have different starting points.

5. Do you offer special low rates?

NOLA Lending Group: Yes, we offer a .125% rate decrease on select RD/USDA loans and a .25% rate decrease on select FHA loans. We also drop all of our Lender fees on VA loans to help lower closing cost for our veterans.

6. Do you offer first-time home buyers mortgages?

Movement Mortgage: There are a few first-time buyer programs out there. There is a conventional option with as little as nothing down, to 3% down. FHA has a .5% option, and a 3.5% option. Credit items can vary and dictate which way someone should go. VA is a 100% loan as well. So, for veterans, that is usually the best option for them.

7. What kind of loan programs do you offer?

NOLA Lending Group: Government loans such as VA, FHA, and USDA loans. We also offer a wide range of conventional loan programs that include 3% options along with jumbo loans to meet the need of our investors.

Movement Mortgage: There are several options. Conventional loans, FHA loans, VA loans, state bond loans, and then each one of those main programs have extensions to different variations geared towards specific situations.

8. How long has your company been at The Wharf?

NOLA Lending Group: We opened this office in May of 2018 so we would be present at all times in the community and give Baldwin County buyers competitive loan options from a local lender who understands the market and does a great job with condos and investment homes.

Movement Mortgage: We are fairly new, less than a year now. We are super excited to be here and be a part of this wonderful community.

9. What services do you provide that people may not know?

NOLA Lending Group: Quality personalized service. All NOLA lending employees talk on a regular basis and we know one another. We are always available and have the best processors and underwriters in on the Gulf Coast. We stretch from Niceville, Florida to Texas. We are able to lend in 46 states, so we can meet your clients’ needs even if they move from our areas.

Movement Mortgage: One thing that we do that is different than most companies, is that we fully underwrite the loans before the customer even goes to contract. We want to limit the last-minute stresses of a loan closing to as little as possible. We believe that by utilizing our up-front underwriting process, this is easily achievable. Our underwriters operate on a 6-hour goal. Last month, we hit that goal with 86% of the files that we closed last month, which was 3,544 company wide. So, the process works. We are also owned just under 50% by a non-profit called Movement Foundation. You can learn more about that at movementfoundation.org. We aren’t just about making money—we are trying to affect our communities that we are in, in a bigger way than just lending money.

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