Security America Mortgage: Company Market Research Report
Company Overview
Name
Security America Mortgage
Mission of the Company
Security America Mortgage specializes in helping veterans and their families navigate the VA home loan process with ease, providing affordable mortgages.
Foundation and Founder
No information is available.
Key People
- Garrett Puckett - CEO
- Jason Noble - COO, Residential Mortgage Loan Originator
- Mark Vela - Residential Mortgage Loan Originator
- Eddie Sera - Residential Mortgage Loan Originator
- Nadia Reid - Residential Mortgage Loan Originator
- Karen Salmeron - Loan Originator Assistant
Headquarters
7514 Shadyvilla Ln, Houston, TX, 77055
Number of Employees
No information is available.
Revenue
No information is available.
Known For
Security America Mortgage is known for offering affordable VA home loans and other mortgage services to veterans and their families, emphasizing personalized customer service and streamlined processes.
Products
VA Home Loans
- Description: Home loans made available to military veterans, reservists, and active duty members for the purchase of a primary residence.
- Key Features:
- Zero down payment
- No private mortgage insurance (PMI)
- Competitive interest rates
VA Construction Loans
- Description: Loans designed for veterans or active military members looking to build a custom home.
- Key Features:
- Built-in construction and permanent financing combination
- Zero down payment
- VA benefits applied throughout the construction process
Conventional Loans
- Description: The most common type of mortgage that does not come with a government guarantee and requires a down payment.
- Key Features:
- Minimum credit score of 620 with a 20% down payment, 680 with less than 20% down
- Eligible for purchasing primary, second homes, and investment properties
- Mortgage insurance required for down payments less than 20%
Jumbo Loans
- Description: Loans exceeding conventional home loan limits, typically used for high-end properties.
- Key Features:
- Higher credit score and larger down payment requirements than conventional loans
- Suitable for purchasing luxury properties
FHA & USDA Loans
- Description: Government-backed loans. FHA loans are popular among first-time home buyers who may not have savings for a down payment.
- Key Features:
- Lower credit score requirements compared to conventional loans
- Lower down payment requirements
- USDA loans suitable for rural area properties with special eligibility criteria
Refinance
- Description: Loans for refinancing existing mortgages.
- Key Features:
- Options for VA and conventional loans
- Potential to lower interest rates and monthly payments
ITIN Mortgage Home Loans
- Description: Specific loans available to individuals without social security numbers.
- Key Features:
- Allows ITIN holders to purchase homes
- Alternative to conventional loans for non-residents
Recent Developments
New Products Launched
- VA Rehab Loan
- Description: Loans designed to help veterans update or renovate their homes for new needs or to accommodate disabilities.
- Launch Date: September 28, 2023
New Features Added to Existing Products
- Effective January 1, 2020:
- Change in the VA Funding Fee to accommodate updated governmental policies.
Partnerships
- Wounded Warrior Project
- Description: Supports veterans and service members with physical or mental injuries post-September 11, 2001.
- The Association of the United States Army
- Description: Supports national security and the U.S. Army interests.
- The Lone Star Veterans Association
- Description: Assists returning veterans and their families in transitioning to civilian life. Operating primarily in the Greater Houston Area.
- Warrior Benefit.org
- Description: Hosts sporting events to build camaraderie among post-9/11 combat-wounded veterans.
Conclusion
Security America Mortgage plays a vital role in assisting veterans and their families with home financing options, providing a variety of loan products tailored to their specific needs. Their partnerships with non-profits and emphasis on veteran services highlight their commitment to giving back to the veteran community.
