We are setting records. But our AEs are surprised by the number of brokers who think that Orion, and other wholesalers, have scaled back business. Nothing could be farther than the truth. Through Orion’s great rates and customer service, as we find ourselves wrapping up July, Orion has helped brokers help thousands of borrowers since the start of 2020 either buy the home of their dreams or save them money through refinancing.

Orion’s AE are continuing to hear from our brokers that there are a lot of common misconceptions borrowers have when applying, or that keep them from applying, for a mortgage. One of the largest is that they need a credit score of at least 700 and a 20 percent down payment to even obtain a mortgage. This is not true.

Since the coronavirus pandemic has hit, the credit box has certainly tightened, but Orion offers programs that accept as little as a 3 percent down payment, and you can even put zero percent down on some VA loans. As far as credit scores go, the best pricing can be had for borrowers with credit scores 720 and higher, but we accept applications with scores down well into the 600s.

Another misconception is that it is always best to get a 30-year fixed mortgage, but if your client is willing to make larger monthly payments, they will get a better rate on a 15-year fixed rate mortgage. And brokers can add value by pointing this out. Additionally, if your client is planning on moving or refinancing within five-to-seven years, an adjustable rate mortgage (that offers a fixed-loan percentage over the first five or seven years, and a variable rate after) can drastically increase their savings.

To sum things up, not only is Orion open for business, but we continue to offer some very attractive programs that suit all kinds of borrowers in all kinds of situations. Not only that, but our best advertising is our satisfied broker client’s referrals. Give us a shout!