Envoy Mortgage is a mortgage lending company that operates in 48 states. It offers a full range of services for home buyers and customers who are refinancing existing loans.

About Envoy Mortgage

Envoy Mortgage began as First Houston Mortgage in 1997. The company's founders, Dana Gompers and David Zugheri, hired the current president and chief executive officer (CEO), Pat Walden, in 2008. The company launched its correspondent channel in 2012 and grew to become one of the top 50 mortgage companies in the United States. Envoy Mortgage's business in 2016 includes both retail and correspondent lending. Its industry partners in its correspondent lending division are the Mortgage Bankers Association and the Mortgage Collaborative.

Mortgage Products Offered

Envoy Mortgage offers three categories of mortgage products to its customers: conventional loans (which include both fixed- and adjustable-rate mortgages), government fixed-rate loans and jumbo loans (which include both fixed-rate and adjustable-rate mortgage loans). A fixed-rate mortgage is a loan where the interest rate remains the same for the duration of the loan, while an adjustable-rate mortgage (ARM) begins with a fixed rate for an initial period and then adjusts periodically to reflect market rates.

The company's conventional loan products include loans guaranteed by the Federal Home Loan Mortgage Corporation (Freddie Mac) as well as the Federal National Mortgage Association (Fannie Mae), including high-balance and super-conforming (SC) loans, Fannie Mae mortgages with 97% loan-to-value (LTV) ratios, My Community loans, Texas 50(a)(6) loans, down payment assistance (DPA) loans and loans granted under the HARP program.

Envoy Mortgage offers three types of government loans. It offers fixed-rate government loans to borrowers who qualify under the Federal Housing Administration (FHA) loan programs. FHA borrowers typically do not qualify under traditional loan programs. It also offers fixed-rate loans to borrowers who qualify under the Veterans Administration (VA) loan program. Those borrowers include military service personnel, veterans and their families. Finally, the company offers U.S. Department of Agriculture (USDA) loans to eligible borrowers who live in qualifying rural areas.

The company's jumbo loan program is for borrowers who are purchasing high-priced or luxury homes. Jumbo mortgages have a limit of up to $2 million and can include both first and second home purchases. Borrowers under this program can receive cash-outs of up to $300,000.

Mortgage Rates

Envoy Mortgage bases its mortgage rates on several criteria, including the term of the loan, the applicant's credit score, the appraised value and location of the property, the length of time the customer is expected to own the home, whether the customer plans to make monthly tax and insurance payments with mortgage payments and the amount of time that passes between completion of the loan application and the closing of the loan. The company does not post mortgage rates on its website. Envoy Mortgage advises each prospective home buyer to contact the company directly so it can understand the customer's complete financial picture and determine which of its products best meets the customer's needs.

What Consumers Are Saying

Envoy Mortgage receives mostly positive customer reviews for its products and services. The company receives 461 reviews on LendingTree.com, and 95% of those reviewers recommend its products and services. The company receives 344 five-star reviews, 72 four-star reviews, 23 three-star reviews, seven two-star reviews and 15 one-star reviews, which equate to an average rating of 4.6 stars. The company receives excellent ratings for its interest rates, customer service and responsiveness, while it receives a good rating for its fees and closing costs.

Envoy Mortgage is an accredited business by the Better Business Bureau (BBB) since 2003. BBB accreditation standards require, among other things, the company to make a good-faith effort to resolve consumer complaints. The BBB of Greater Houston and South Texas awarded Envoy Mortgage its highest A+ rating.

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