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Discount Mortgage Lenders makes buying a new home easy. We offer a wide range of home loans, so you'll get the best mortgage rates, regardless of your credit. We understand that owning a home can be an important step in building your personal net worth and developing a sound financial future. We can help you realize your homeownership dreams by offering you all the best advantages:

- Low Rates
- Easy Online Application
- A Vast Array of Mortgage Programs
- Guidance & Advice from an experienced Loan Professional

Owning your own home has several advantages besides the obvious satisfaction you get from home-ownership. You can build equity and enjoy the tax deductions of mortgage interest and taxes. Purchasing real estate is a good way to invest your money and provide yourself some increased financial security. It's a good way to increase cash flow and offers many profitable investment options.

Simply put, buying and owning a home is the American dream for many people, and has been for decades. Being able to say that you own your house and your plot of land is a big accomplishment in a person's life. Owning a home, or buying a home is seen as one of the best financial decisions that a person can make as well. When you rent, you are simply paying off someone else's mortgage for them and allowing them to acquire equity. When you choose to purchase a home, you will reap the long-term benefits of acquiring equity and actually owning the home.

If you're thinking about buying a home, it's always a good idea to educate yourself on the mortgage process.

Home ownership can be a confusing and expensive venture for some people, but it doesn't have to break the bank or be complicated. There are many different ways that allow you to afford the home you want if you have the right information. Whether you are a first-time homebuyer, a renter, or you are purchasing a new or second home, we have an assortment of tools and loan programs to meet your individual financing needs. Use our easy-to-navigate site, or contact us directly by phone or by pre-qualifying online.

Choosing the right type of mortgage requires you to review your financial objectives and ask a host of questions, such as:

How long do you plan on staying in the house or with the loan?
What amount of monthly payment can you comfortably afford?
How much money do you have for a down payment?
Is paying the mortgage off early important?
Do you intend to make extra principal payment?
Is your income projected to remain stable or increase?

Before deciding which mortgage to get, look at the whole product. Pay close attention to the terms of a loan including the type of the mortgage and the loan term. Pick the loan with the rate and other terms that suit your situation best. Please consult the many resources available on this site or call one of our staff members to discuss the issues that concern you most.

Use our loan options resource to help explain the many programs and features.

Use our pre-qualification calculator to determine what you can afford and how much you can borrow.

Looking for a property and need loan pre-approval? Apply online to be pre-approved for the loan you want.

Do you currently rent? Find out if it makes sense for you to purchase a home now versus paying your current rent.

Choosing the Best Loan Program.

Loan programs come in many forms and come from many sources.

The type of home you buy depends on many factors and can entail a lot of research and consideration. But being able to afford your first home may be easier than you imagined. Here are some things that you can do to make the home of your dreams a reality.

Pre-qualifications and pre-approvals are not guarantees that you'll get financing. Even if you have a pre-qualification or a pre-approval, it still could fall through for any number of reasons. The best thing you can do to find out how much you can afford on a home is to get an approval either online, over the phone, or in person. Discount Mortgage Lenders will provide that approval quickly and hassle free. You are approved for four months while you shop for a home and you'll know exactly how much you can spend, so you won't waste time looking at houses that aren't in your price range. Not to mention that since you are already approved for financing, any offer you make on a home will have much more weight than other buyers' offers.

If you have bad credit, we have loan programs tailored to meet your needs. If you have trouble proving your income, we provide a variety of options to finance your new home.

Discount Mortgage Lenders, Inc. can significantly reduce the amount of time it takes to process your loan because there is no long chain of approval. Just you and your home loan expert in one of our three Midwest offices.

Whether you apply online or by phone, everything happens in our dedicated sales and processing center.

We will consider many factors in evaluating your loan application, but they usually focus on four areas:

Income and debt. How much money you make and what other bills you have to pay helps the lender determine whether you can afford to make mortgage payments.
Assets. The lender needs to make sure you have enough money to cover the costs of buying a home.
Credit. Whether you've met other financial obligations helps the lender predict whether you will repay your mortgage.
Property. The home you want to buy has to be worth enough to act as collateral for the mortgage.

For most borrowers, each monthly mortgage payment goes toward the following:

Principal, which is the total outstanding balance of the loan
Interest, which is the cost of borrowing money
Taxes, which are levied on the property by the local government
Insurance, which protects the owner and the lender from losses caused by fire and natural hazards

These factors are called the four c's of lending and are discussed in greater detail under what you need to know about your purchase application.

What if you had credit problems?

Your credit history is only one factor in qualifying for a loan, and having made some late payments doesn't have to keep you from buying a home or refinancing. Regardless of your credit history, we have a solution that works for you. Find a loan that helps you rebuild your credit, and consolidate debt. You can trust that Discount Mortgage Lenders, Inc will work hard to find the best solution for your unique needs. In fact, Discount Mortgage Lenders Select loan program offers a variety of mortgage options to help people with less-than-perfect credit become homeowners or refinance and leave credit challenges behind. Discount Mortgage Lendersis not limited to working with only one type of borrower, which means that people of all financial and credit profiles receive the same impressive cost-saving benefits we offer. Best of all, there's no cost or obligation to apply for a loan or get a custom loan search

What if your income is difficult to verify?

Whether you're self-employed, retired, salaried, have excellent credit or bad credit, bankruptcy, or late payments; we'll search for the best loan program to fit your specific needs. We have a wide variety of loan programs for stated income, limited income verification and no income verification situations. We offer many conforming, jumbo, cash-out, Alt-A, and sub-prime loans, with flexible payment terms such as 30-year and 15-year fixed, adjustable rate mortgages (ARMs), short-term, and balloon payment options that have adjustments for income verification constraints.

Discount Mortgage Lenders has a vast array of loan programs to meet almost every homeowners needs. Our simple and more direct loan process puts you in the door of your new home faster. Please review our loan products and consult one of our local experts to ease you through the home buying process. No application fee, no appraisal fee, no credit report fee.just prompt, courteous attention to your needs.

First Time Home Buyer
80/20, 80/10 and 80/15 Combo Loans
100% Financing - No Money Down
My Community Mortgage
Government Mortgage Loans
FHA Home Loans
VA Mortgage Loans
Rural Housing
New Construction Loans
Lot Loans
Jumbo Mortgage Loans
No Income Verification Loans
No Income No Asset Verification
Stated Income Stated Asset
No Income, No Asset, No Employment
No Doc
Less Than Perfect Credit
Lender Paid Mortgage Insurance
Interest Only Loans
Combo Interest Only Loans
Non Owner Occupied / Investment Property
40-Year Home Mortgage Loan
Flex 100 and Flex 97

Other program features:

EZ Qualifier programs if you cannot document your income, assets and/or employment
Purchase loans with 5%, 3% and 0% down
30 yr and 15 yr fixed loans, 1, 3, 5 & 7-year ARM loans, adjustable with low rates
95 % Lender Paid PMI - One Conventional Loan - You do not pay PMI
Lock your rate for up to 180 days
Buy down loans to reduce your initial interest rate
No point, No fees loans
No point, No fees, No closing cost loans available
Lock or float your rate when you apply
Home Improvement
2nd mortgage

So what are you waiting for fill out an application on line, call us or drop by one of our offices and see how our more direct loan process puts you in the door of your new home faster.

Home Purchase