February 13, 2013
WEI Mortgage Corporation’s Innovative Custom-term Loan Options
Based in Rockville, Maryland, WEI Mortgage Corporation (WEI) offers clients an expedited home loan application process designed to flexibly accommodate their financial and investment requirements. The firm maintains a commitment to rigorous underwriting standards that ensure the integrity of every loan undertaken through institutional investment partners. Products offered include fixed-rate loans, reverse mortgages, and government lending program-compliant packages.
In 2011, WEI Mortgage Corporation announced the introduction of custom term mortgages built around borrowers’ individual financial circumstances. Available to qualified clients, the custom-term option is ideal for households that have been making regular home mortgage payments for several years and want to decrease interest rates (without extending the loan term).
Through the custom term loan, a borrower with a 25-year mortgage who has been paying down the loan for 10 years can refinance and take full advantage of historically low current interest rates. The homeowner simply pays the new rate throughout the remaining 15 years of the mortgage. WEI President Wesley Yuan describes this approach as optimal for homeowners who want to achieve significant savings without departing from their longterm loan repayment plans.
WEI Mortgage Corporation also helps facilitate the lending process through a dedicated online service center. The firm’s web-based financial resources and tools enable borrowers to thoroughly investigate financing options, with no disclosure of private information required. WEI also provides custom pre-qualification tools, which give households a clear idea of how much they can afford to borrow, based on specific financial, employment, and credit criteria.