J.G. Wentworth offers home loans and home renegotiating advances for clients hoping to buy another home or combine their current home loan installments into ideal rates and terms. Established over 25 years back, J.G. Wentworth started its reality as a trader bank having some expertise in organized settlements and prepaid Visas. In 2015, it added home loans to its portfolio. Today, J.G. Wentworth offers a wide scope of home loans and renegotiating arrangements, issuing more than $3 billion in home advances each year to clients around the United States and is positioned #1 for consumer loyalty on Lending Tree.
- Variety of loan and term options
- Federally-backed programs
- Simple online application process
- Information on rates and terms difficult to find on website
- No live chat support for inquiries
- Only has 14 physical locations
J.G. Wentworth at a Glance
- Loan TypesPurchase, Refinance
- Featured LoansJumbo, VA, FHA, Home Improvement, HARP
- Repayment Terms10, 20, 30 years
- Down Payment0-20%
- Credit Score520-620+
- Best ForHomebuyers looking for choice and convenience
Who Is J.G Wentworth Best For?
J.G. Wentworth is a top home loan moneylender for home purchasers and property holders who need their bank to offer them decisions and accommodation. The decision originates from the many advanced sorts on offer, including:
Fixed and adjustable-rate conventional loans
The comfort originates from having the option to apply for a home loan on the web, via telephone, or face to face. While most banks offer a decision of either, J.G. Wentworth offers simple online applications and keeps up a physical nearness in 15 states.
Types of Loans
As mentioned above, J.G. Wentworth offers a large range of mortgage products, including:
Fixed-rate mortgages: Conventional home loan with a fixed rate that stays at the same level for the duration of the loan. Minimum credit of 620. Minimum down payment of 20%. Terms of 15, 20 or 30 years.
Adjustable rate mortgages (ARMs): Conventional home loan with a fixed interest rate for an introductory period, then a variable rate for the remaining lifetime of the loan. Minimum credit of 620. Minimum down payment of 20%. Introductory periods of 3, 5, or 7 years.
Jumbo loans: Home loan for property whose price is higher than the maximum covered by a regular fixed-rate mortgage or ARM. Credit not specified, although most lenders require at least 700. Minimum down payment of 20%. Same terms apply as for conventional mortgages.
VA loans: Government-backed loans for active and former members of the Military, National Guard, and Reserve, and surviving spouses who meet qualifying guidelines. Borrowers with lower-than-average credit accepted. Low interest rates, zero down payment, no PMI, low closing costs.
J.G. Wentworth Pre-QualificationGetting pre-qualified before you apply for a home loan with J.G. Wentworth can give you a thought the amount you can get. It additionally surrenders you a leg when putting an idea on the house you’d like to purchase – the proprietors will comprehend they can depend on you to have the subsidizing for their property. To pre-qualify, you will audit your budgetary data with one of the credit pros. In view of that data, J.G. Wentworth will give you a gauge of the amount you can obtain.
When you’re prepared to make an idea on a home, a pre-endorsement can surrender you a leg, demonstrating proprietors that you are a genuine possibility for their property. Not at all like pre-capability, pre-endorsement requires a formal application and a hard credit check.The Application Process
Home purchasers can apply for a home loan on the web, via telephone, or in physical areas in certain states. The online application separates things to the minimum necessities, with least documentation and a moderately snappy turnaround contrasted with the normal home loan moneylender. In any case, J.G. Wentworth makes no guarantees with respect to how rapidly it can close individual advance applications. Candidates may experience the whole procedure on the web, from getting a statement through to conclusive e-mark, or address a credit operator whenever by means of J.G’s. sans toll number.
To apply online for a conventional loan, follow these steps:
1) Click “Get My Rate”
Fill in fundamental data, including: postal district; kind of home; how you expect to utilize the property (essential home, excursion, or rental); price tag and planned initial installment; military history, assuming any; and assessed FICO rating. On the last screen, you’ll see a rundown of pre-qualified APRs for fixed-rate credits and ARMs. Select your favored credit offer, at that point enter your contact subtleties to have an advance operator call you or hit “Apply Online Now” to proceed with the procedure on the web.
2) Create a username and password
You’ll be approached to enter the accompanying data: credit profile, including advance reason and property data; insights regarding yourself, your wards, and current living arrangement; a monetary resource breakdown; and an agenda of salary sources. At last, you’ll be approached to approve your accommodation.
3) Submit your documents
Not long after entering the above data, you’ll get a rundown of archives to give to J.G. Wentworth, including confirmation of ID and address, Social Security number, payslips, and tax documents. You may transfer these on the web or via mail or fax.
4) Get approved
A J.G. Wentworth advance specialist will survey your advance application and run a credit check. Inside half a month, you should see whether your home loan has been affirmed and be given a breakdown of conclusive rate and shutting costs.
5) Close your loan
Approved borrowers may e-sign the closing documents.
Pros and ConsJ.G. Wentworth’s quality lies in its wide scope of advance items, with alternatives for each sort of home purchaser: from low-salary borrowers to individuals purchasing costly homes; from regular folks to dynamic military staff; from purchasers in the city to purchasers in country territories.
Despite the fact that J.G. offers reasonable rates, it doesn’t promote any of these on its site. To discover what rate you can pre-meet all requirements for, you’ll have to give your contact subtleties and offer some fundamental data about yourself.Rates and FeesThe accompanying table shows how J.G. Wentworth piles up to a portion of the nation’s best moneylenders. Rates were sourced around the same time, utilizing the case of a home in Chicago, Illinois, with an estimation of $250,000, 20% initial installment, and great credit (580-619). The figures are appeared by “intrigue/APR.”[/vc_column_text]
- 30-Year Fixed4.875%-4.91%
- 15-Year Fixed4.250%-4.309%
- 5-Year ARM4.875%-5.052%
According to J.G. Wentworth, closing fees are usually around 3% of the value of the loan. The market average for closing costs ranges from 2%-5%.
The accompanying table shows how J.G. Wentworth piles up to a portion of the nation’s best moneylenders. Rates were sourced around the same time, utilizing the case of a home in Chicago, Illinois, with an estimation of $250,000, 20% initial installment, and great credit (580-619). The figures are appeared by “intrigue/APR.”
Help & Support
You can contact J.G. Wentworth’s loan specialists and agents via the following channels:
Phone: Toll-free number open during extended business hours. You can also request a call using an online form on J.G.’s website.
Branch: J.G. Wentworth has physical locations in the following states: Arizona, California, Connecticut, Delaware, Florida, Georgia, Kansas, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, Pennsylvania, Texas, and Virginia.
J.G. Wentworth FAQ
It was one of 6 mortgage lenders inducted into the Ellie Mae Hall of Fame in 2019 for outstanding efficiency. It is ranked top 10 for customer satisfaction by LendingTree, an online lending marketplace.
It offers a range of useful tools to do things such as calculate monthly payments, compare the benefits of renting vs. buying, and understand your purchasing power.
It also specializes in structured settlements, annuity purchasing, and prepaid cards.
Among other things, J.G. Wentworth supports Homes for our Troops, a non-profit that builds and donates custom homes for severely injured veterans.
Company headquarters are in Pennsylvania, but the lending division is based in Virginia.
J.G. Wentworth offers a reasonable option in contrast to the greatest moneylenders in case you’re searching for home loans or renegotiating advances. It offers moderate fixed-rate and customizable rate credits, just as pretty much every kind of government-guaranteed advance, for example, VA, FHA, and HARP. With a wide scope of advance sorts, rates, and terms, J.G. Wentworth offers clients from varying backgrounds a way to home possession.
J.G. Wentworth Home Lending, LLC
3350 Commission Court
Woodbridge, VA 22192