Hall Lending Group was created by Hope Hall with one mission in mind: to provide customers with the best home loan experience possible. For nearly two decades, we have been helping families meet their goals of home ownership with the best interest rates and loan programs available. We care about more than just your home loan. We take pride in making lending easy. We understand that family is important and that you want what is best for them. We make lending easy because you want to be the hero that gave your child their own backyard. We make lending easy because you want to spend more time with your family and less time on paperwork. We make lending easy because YOUR TIME MATTERS.
Phone : 319.899.3820
I am Hope Hall. I live in Cedar Rapids, Iowa and have been in the Iowa mortgage industry for 21 years. During this time, I’ve learned that the only way to truly serve your clients is to listen to their wants and needs. Every situation is unique and deserves personalized attention. I can honestly say that I am in the right profession! I love my job and would be honored to add you or any of your acquaintances to my long list of satisfied clients. I’m passionate about providing clients with service that exceeds their expectations.
Phone : 319.721.5240
Home ownership will be one of your most rewarding events in your life. Let my 15 + years of finance experience guide you through the home buying process.
I have assisted hundreds of people in either purchasing their dream home or refinancing to meet their financial needs, let me help you achieve your goals.
I was born in Center Point, and have lived in the Cedar Rapids area for over 20 years. I enjoy traveling, and attending sporting events in my free time.
You will appreciate my attention-to-detail and accessibility which has allowed me to become a trusted resource for my clients and Realtors alike. I look forward to assisting you with what is often the biggest financial decision you will make.
Phone : 319-361-4755
Hi, I’m Lindsey Whitfield!
I became a mortgage loan officer in 2004. Helping people to purchase a home is an amazing experience that I am grateful to be apart of. The journey from the preapproval process to closing can be challenging at times, and that’s when I get to help guide you through until the very end. I also know that questions come up months after closing, and I’m available for those as well.
Becoming a homeowner can take time and patience and I understand that. Even if you aren’t qualified the day that you apply, I will assist you in getting there!
I have helped many first-time buyers to purchase a home and refinance when rates went down. I have also been privileged to help those same people purchase their next home!
Along the years my clients have kindly provided reviews on Zillow.com about their experience with me, and I am pleased to see five out of five stars and so many kind words! Customer service truly is important to me.
When you are ready to purchase or refinance, I will be happy to help you!
As a Mortgage Broker, lenders give us wholesale pricing that allows us to find the best loan product for your current situation. We can offer the lowest PMI insurance in the state of Iowa.
There are hundreds of lenders to choose from, and the forms and other data required can be quite complicated. Our professionals can reduce the stress and frustration while getting you the best deal. Ask about doc-less home loans and 18-day loans closings!
We receive wholesale mortgage quotes for hundreds of different loan programs with different approval criteria. We represent YOU, not the lender. This helps to ensure you receive the best loan for you.
The world of mortgage finance is always changing. We are dedicated to keeping up with this change to provide our clients with the best advice and direction possible. Our professionalism is based on having the right blend of product knowledge and an intense commitment to customer satisfaction.
Lenders will always give you the best rate when they know you are getting more than one quote. This gives you a tremendous advantage over lenders.
There are many different Iowa mortgage loan programs to choose from, which makes it extremely difficult to choose the right one.
We can help you quickly and easily decide! First, you need to think about how long you plan to keep the loan. If you plan on selling the house in a few years, then an adjustable rate or balloon loan will work. If you plan to keep the house for a longer period, then a fixed loan is the way to go.
If you are a first time home buyer or have bought a home before and have less than perfect credit, this may be the program for you. Only 3.5% down and DTI ratio as high as 55%
VA loans are available with no money down and no PMI insurance needed for veterans looking to purchase a home. You served your country now let us serve you!
No money down loans with low PMI are available for properties located in an eligible rural area, as defined by USDA.
Investment property loans are used to finance 1-4 family properties. These Iowa mortgage programs have many variations, and most require 10% to 20% down.
This custom-tailored loan product offers you the ability to both build and finance your dream home. All with just one application and ONE closing. This is available with only 10% down.
We can get the JUMBO loan without the JUMBO rate and as little as 10% down.
There are two primary reasons to refinance a mortgage: to get more desirable rates and terms, or to extract cash from the home’s equity. We can help you decide if refinancing is right for you and your individual situation.
Rate-and-term refinancing pays off one loan with the proceeds from the new loan using the same property as collateral. This type of loan allows you to take advantage of lower interest rates or shorten the term of your mortgage to build equity faster. Rate-and-term financing refers to a myriad of strategies, including switching from an ARM to a fixed rate or vice versa.
Cash-out refinancing leaves you with additional cash above the amount needed to pay off your existing mortgage, closing costs, points, and any mortgage liens. You may use the additional cash for any purpose.
FHA loans are perfect for both urban and rural homebuyers to consider. These loans are ideal for first-time buyers or home buyers with less-than-perfect credit and require only 3.5% down payment.
USDA Rural Development and its loan program is a wonderful option for qualifying homebuyers, with zero down payment required, low monthly PMI insurance, and offers credit score leniency.
If you’re thinking of purchasing a home and you’re wondering if you may qualify for a USDA loan, give us a call. The experienced professionals at Hall Lending Group can tell you if your desired area falls under the USDA eligible properties.
FHA 203k Loans are a mortgage financing program that allows the borrower to get a new mortgage on “fixer-upper” homes and roll the renovation costs into the loan. This option is beneficial for those that are either buying or selling a home.
FHA 203k Loans Can Be Used For
Borrowers cannot use 203k to complete new construction and must have an occupancy permit 12 months prior to doing a 203k.
Investor loans are used to finance 1-4 family properties that will be for investment. These programs have many variations, such as No Doc, Limited Doc, and Full Doc, which are possible documentation requirements of the borrower’s income in order to approve the mortgage. These require 10% to 20% down.
With our construction loans, we can make building your new home a fantastic adventure. We will uncomplicate the loan process so you can focus on the home building experience without feeling overwhelmed or frustrated with the loan aspect. All with just one application and ONE closing. This is available with only 10% down.
The FACT Act allows all consumers the right to obtain one free credit report from each of the three credit reporting agencies once a year.
This means you can obtain a free copy of your credit report every four months, if you keep track of which credit bureau you select. For example, select Experian in January, Equifax in May, and Trans Union in October. You can repeat this pattern each year.
If you obtain a personal loan from the Credit Union, we will give you a free copy of your report, including the credit score.
Go to www.AnnualCreditReport.com to obtain your free credit report.
Before you begin searching for a home, it’s important to take a close look at your current financial situation. You’ll want to consider:
Your present income
Your expected income over the next few years
Your current monthly payments
How long you expect to stay in your home
The amount of money you can borrow will be determined by the size of the monthly payment you can afford. Most lenders do not allow the monthly payment to exceed 25% to 33% of gross monthly income, however some lenders have a more flexible debt-to-income ratios that they use.
You will first want to start by taking a look at your current assets, which would include your income, savings, investments, IRAs, life insurance, pensions and corporate thrift plans, and equity in other real estate, etc. and liabilities (including outstanding loans, credit card balances, etc.). You will also want to think about how your income or your household income, if there are two people bring in an income in the family, and how might change over the next several years.
The typical application is a simple outline of who you are, the property you want to buy or refinance, and your financial assets and liabilities. Click here for our Online Mortgage Application to see an example.
The lender initiates a credit check and arranges for an appraisal of the property you plan to buy or the current property you want to refinance. The appraisal assures you and the lender that the property has fair market value. In the unlikely event of default on your loan, the property must be worth enough to settle the debt.
Once your credit check, appraisals and verifications are complete, this “credit package” is reviewed by an underwriter who makes the loan decision. If your loan is approved, your lender will issue you a loan commitment which is a binding agreement to lend you the money. The commitment spells out all the details of the loan including all charges and fees, closing requirements, and any important conditions that might include:
A list of documents you will need for closing
Information on when the agreement expires
Other important information you should know when closing on your home
The loan commitment may also have certain conditions that you must meet before the loan is granted, such as bills you must pay off or special requirements of the homeowner’s association, are just a few.
The concept of the annual percentage rate (APR) was developed to more accurately reflect a more precise cost factor. The APR represents not only the rate of interest charged on the loan but certain other finance charges. An APR is expressed in terms of percentages and may include the following costs: origination fees, loan discount points, private mortgage insurance premiums, and the estimated interest pro-rated from the closing date to the end of the month.
Please not that what may appear as a low interest rate may have a lot of optional loan discount points added to increase the effective rate to the lender. Reviewing the APR will help you to determine if this type of situation exists. When shopping for mortgage rates, get the APR from your lender to make sure you have an accurate comparison to other available mortgage rates.
It is important to ask the lender how long they guarantee the quoted interest rate. Some lenders guarantee the rate for 20 to 90 days. Other lenders may only agree to set a rate when the loan is approved. however, lenders will not set a rate for the loan until just before closing. A longer guarantee period allows you to protect the rate for a longer length of time, which could be beneficial to you in a volatile interest rate market. Also check to make sure long guarantee periods are available and what additional costs may be involved.
Mortgage rates can change from day to day, or even more often than that. If you are concerned that interest rates may rise during the time your loan is being processed, you can ‘lock in’ the current rate (and loan fees) for a short time, usually 60 days. The benefit is the security of knowing the interest rate is locked if interest rates should increase. If you are locked in and rates decrease, you may not necessarily get the benefit of the decrease in interest rates.
If you choose not to ‘lock in’ your interest rate during the processing of your loan, you may ‘float’ your interest rate until you are comfortable with it. The borrower takes the risk of interest rates increasing during the time from application to the time the rate is locked in. The downside is that the borrower is subject to the higher interest rates. The benefit to floating a rate is if interest rates were to decrease, you would have the option of locking into the lower rate.
This is interim interest that accrues on the mortgage loan from the date of the settlement to the beginning of the period covered by the first monthly payment. Since interest is paid in arrears, a mortgage payment made in June actually pays for interest accrued in the month of May. Because of this, if your closing date is scheduled for June 15, the first mortgage payment is due August 1. The lender will calculate an interest amount per day that is collected at the time of closing. This amount covers the interest accrued from June 15 to July 1.
Yes. The two basic types of Iowa mortgages are fixed rate and adjustable rate.
Fixed Rate Mortgages
If you’re looking for an Iowa mortgage with payments that will remain essentially unchanged over its term, or if you plan to stay in your new home for a long period of time, a fixed rate mortgage is probably right for you.
With a fixed rate mortgage, the interest rate you close with won’t change-and your payments of principal and interest remain the same each month-until the mortgage is paid off.
The fixed rate mortgage is an extremely stable choice. You are protected from rising interest rates and it makes budgeting for the future very easy.
However, in certain types of economies, the interest rate for a fixed rate mortgage is considerably higher than the initial interest rate of other mortgage options. That is the one disadvantage of a fixed rate mortgage. Once your rate is set, it does not change and falling interest rates will not affect what you pay.
Fixed rate mortgages are available with terms of 15 to 30 years with the 15-year term becoming more and more popular. The advantage of a 15-year over a 30-year mortgage is that while your payments are higher, your principal will be paid off sooner, saving you money in interest payments. Also, the rates may be lower with a 15-year loan.
Adjustable Rate Mortgages (ARMs)
An adjustable rate mortgage is considerably different from a fixed rate mortgage. ARMs were created to provide affordable mortgage financing in a changing economic environment.
An ARM is a mortgage where the interest rate changes at preset intervals, according to rising and falling interest rates and the economy in general. In most cases, the initial interest rate of an ARM is lower than a fixed rate mortgage. However, the interest rate on an ARM is based on a specific index (such as U.S. Treasury Securities). This index reflects the level of interest rates and allows the lender to match the income from your ARM payment against their costs. It is often selected because it is a reliable, familiar financial indicator. Monthly payments are adjusted up or down in relation to the index.
Most ARMs have caps-limits the lender puts on the amount that the interest rate or mortgage payment may change at each adjustment, as well as during the life of the mortgage. With an ARM, you typically have the benefit of lower initial rates for the first year of the loan. Plus, if interest rates drop and you want to take advantage of a lower rate, you may not have to refinance as you would with a fixed rate mortgage. An ARM may be especially advantageous if you plan to move after a short period of time.
ARMs are often misunderstood. Ask your mortgage lender to explain the details to you so you can determine if this type of mortgage fits your specific financial situation.
If the down payment on your home is less than 20%, your lender will more than likely require that you get private mortgage insurance. This insurance insures the lender against possible default on the loan. It is not to be confused with mortgage life insurance or homeowner’s insurance.
Normally, PMI may be removed if you have reduced the principal amount of your loan to 80% or lower than the original purchase price. It also may be removed if you have obtained an independent appraisal stating that the outstanding principal amount of the loan is 80% or lower than the appraised value.
Some lenders do not require PMI. Instead, they may increase the interest rate on the loan.
Mortgage closing costs are fees charged for services that must be performed to process and close your loan application. Examples of mortgage closing cost include title fees, recording fees, appraisal fee, credit report fee, pest inspection, attorney’s fees, taxes, and surveying fees. The closing cost of a loan will vary depending on your geographic location.
Lenders are required by law to disclose in writing, known as a Good Faith Estimate, your estimated mortgage closing costs and fees as a buyer.
An account held by the lender to which the borrower pays monthly installments, collected as part of the monthly mortgage payment, for annual expenses such as taxes and insurance. The lender disburses escrow account funds on behalf of the borrower when they become due. Also known as Impound Account.
At the closing you, the seller, the lender and the attorneys for all involved validate, review and sign all documents relating to the purchase or refinance. The lender provides the check for the loan amount. You receive the title to your property and the keys to your new home or the cash from your refinance.
The dollar difference between the market value of your home and your current mortgage balance determines your home equity. In other words, if you sold your home this would be the cash you would receive after the sale. A home equity loan allows you to access this cash without selling your home by using your home as collateral. As you pay down your mortgage, and/or your home’s value increases, your available equity increases accordingly.
If we haven’t answered your question here, feel free to contact Hall Lending Group for more help.
Hall Lending went above and beyond for me and my family, and I could not recommend them more than I have already. I am an extremely busy person, and Hall Lending worked around my busy schedule to accommodate me. They made this scary process easy and they were highly professional.
Readily available throughout the entire process doing everything they could for us. Our closing costs were lower than other lenders and came in lower than expected the day of closing!! Hall Lending made a very stressful experience an enjoyable one!
We encountered more than the normal qualification issues, and they always had a strategy to resolve the issue and move us forward. Thanks to their tremendous industry knowledge, we successfully attained a mortgage and moved into, literally, our dream home.
This is the 2nd time I have used Hall Lending group to purchase a home. Hope & her team take all the stress & worry out of home buying. She’s great at staying in contact, keeping you up to date & telling you exactly what it’s going to take to put you in your new home. The realtor I used was even thoroughly impressed with her promptness & how easy she made the entire process. Hall Lending Group comes HIGHLY recommended!!