Ruoff Home Mortgage is an Indiana-based full-service residential mortgage organization with a distinguished track record. The financial lender has been offering beneficial solutions to borrowers looking to save money on their home loans since 1984.
Ruoff Mortgage provides its clients with a variety of residential home loans, which include:
- Conventional mortgages
- Government-backed mortgages through Fannie Mae, Ginnie Mae, and Freddie Mac
- Federal Housing Administration (FHA) loans
- Veterans Health Administration (VHA) loans
- Jumbo loans
- Specialty loans for renovation purposes or construction of new homes and apartments
Ruoff Mortgages serves the Indiana, Florida, Michigan, Ohio, and Kentucky communities. It has more than 55 offices throughout these regions and offers loan services in most of the US, excluding New York, Hawaii, and Alaska.
A Brief History Of Ruoff Mortgage
Ruoff Mortgage is the brainchild of David Ruoff. After several years of working with mortgage organizations, Mr. Ruoff embarked on a similar initiative using a community-based approach to finance low and middle-income potential homeowners.
Three decades later, the company serves thousands of clients all over the US. It is still a family-owned organization run by the founder’s grandson, Mark Music, who is the current CEO.
From small beginnings in Fort Wayne, Indiana, the company has expanded.
Due to its comprehensive management and quality service delivery, Ruoff Mortgage has made great strides in the financial lending industry.
It was ranked the fastest-growing company in America for the last six years and was also honored as the top employer in the mortgage industry in 2018 by National Mortgage Professional Magazine.
Ruoff Mortgages continue to satisfy the needs of its customers.
Ruoff Home Loans Types And Rates
Ruoff Mortgage is a credible organization with many positive ratings on authority sites like Zillow, Yelp, Facebook, and Google. They offer a wide variety of loans that many people can qualify for, which makes them an excellent choice, especially for first home buyers.
They offer competitive rates even if you have a low credit score. Ruoff Mortage’s down payment options also benefit home buyers with less cash upfront. You can apply for the following loans from Ruoff Mortgage:
Fixed-Rate Mortgages
Fixed-rate mortgages are home loans with a set interest rate at the time of application, which does not change until you complete the loan. Homebuyers looking for fixed monthly payments prefer this type of loan because of its stability. Ruoff Mortgage offers fixed-rate home loans for 15, 20, or 30-year terms.
Adjustable-Rate Mortgages
ARM loans are mortgages that feature interest rates that fluctuate depending on the conditions of the financial markets and the lender’s standards. The rates might change annually or after a specific period as per your agreement. ARM loans are unpredictable, but they generally start with low-interest rates.
FHA- Federal Housing Administration Loans
The Federal Housing Administration loans are customarily the best option for first-home buyers. They have a low down payment plan of up to 3.5% of the loan amount. You can qualify for these loans with a credit score as low as 600 with Ruoff Mortgage. To obtain an FHA loan, you must satisfy various requirements like appraisal and property inspection by the FHA.
Nevertheless, FHA loans are budget-friendly.
Jumbo Loans
Jumbo loans are higher than the stipulated Federal Housing Finance Agency amounts. Ruoff provides Jumbo loans of up to $3 Million, which can either be an ARM loan or fixed-rate loans.
VA- Veterans Affairs Loans
Ruoff Mortgage provides loans guaranteed by the Veterans Affairs department to eligible applicants. Their spouses, children, and beneficiaries can also benefit from this loan. You may obtain a loan with no down payments using a valid VA certificate to prove eligibility.
US Department Of Agriculture Loans
Ruoff offers loans guaranteed by the Department of Agriculture to all eligible applicants. USDA loans can be used for commercial or agricultural purposes. This loan allows homebuyers to borrow up to 102% of their property value.
Doctors Only Program Loans
This is an exclusive product from Ruoff Mortgage for doctors hoping to buy a home. Doctors can only use this program if they want an adjustable-rate mortgage.
Other Loans
Ruoff Mortgage provides Indiana Housing and Community Development loans as part of a special program for homebuyers in Indiana. These loans are up to the value of $2000.
How To Apply For A Loan
Ruoff Mortgage has a seamless loan application process. You can access the online application portal on their website, which is fast, convenient, and secure. Once you have submitted your details, you will get a free quote. It typically takes up to 15 days to secure a loan, depending on the loan type and amount.
If you want to apply for and follow up on your loan application in person, you can visit any of their offices. Ruoff Mortgage offers a variety of loans that are tailored to the individual. Ruoff Mortgages claims to offer efficient and dependable services that you can count on.
Compare Mortgage Providers
Mortgages are a big deal. It is good practice to compare mortgage providers to ensure that you select a partner best suited to your needs. One that aligns with your values and which you feel comfortable handling your mortgage.