Is Meridian Home Mortgage Legit?

Is Meridian Home Mortgage Legit?

One of the difficulties in serving such a large geographic swath of the United States is that it takes time to build what marketers like to call “brand recognition.” Even worse, people sometimes confuse us with other mortgage companies with similar names.

So for those of you not familiar with Meridian Home Mortgage, here are just a few ways in which we’re “legit” and different from our competitors:

We’re a mortgage broker, not a mortgage lender.

Mortgage lenders work on behalf of their lending institutions. Mortgage brokers work for you, the homebuyer, and act as a conduit between you and the lenders. This means we work on your behalf to find you the best rates and loan conditions. In addition, because we’re licensed to operate in multiple states, we can find you the best rate not just in your state, but in 14 states.

As mortgage brokers, we must be licensed in each state in which we do business – and we’re personally liable for fraud – punishable by prison – for the life of each loan! Bank loan officers, in contrast, may work under the license of their bank – and thus do not have to be licensed themselves.

Mortgage brokers also an advantage over mortgage lenders because of certain consumer laws. These laws subject mortgage brokers to fee thresholds. If our borrower fees exceed a certain percentage of the loan, then we have to meet additional regulatory requirements. Therefore, mortgage brokers are incented to keep borrower fees below this threshold. Banks and bank lenders are not subject to these same “high cost mortgage” laws, so they don’t have the same incentive to keep their fees low.

We’re licensed in 33 states.

From our head office in Westminster, MD, we’re licensed to operate in 33 states, including California, Alabama, Florida, Kentucky, Maryland, Massachusetts, New York, Oregon and Washington, to name a few.

We have an A+ rating from the Better Business Bureau.

A rating from the BBB is something you cannot buy. To attain it, you must consistently deliver excellent customer service.

When compiling its ratings, the BBB monitors accredited businesses for adherence to its standards. Complaints or failure to file information can result in a loss of accreditation.

We’ve been in business since 2001.

For the past 15 years, we’ve helped thousands of families purchase homes, pay off debt and reduce their monthly payments. And while we’ve grown and expanded, we still treat every customer as a neighbor – because after all, our office is located in Westminster, Maryland! (If you’re ever in town, stop by and see us.)

To learn more about Meridian Home Mortgage and to find out how we can help you with the purchase or refinancing of your home, please give us a shout. We’re here to help you.