There are many benefits to working with a local lender. Often local lenders can be more flexible with their borrowers and have more attentive customer service. However, it can also be difficult to find many local lenders to work with, especially if the ones close to you aren’t rated highly. That’s why Intercontinental Capital Group (ICG) is the perfect combination – this local lender has great customer service, yet has a national reach! Branch manager Steven Pinello gave us a special glimpse into the workings of ICG.
ICG is a direct lending mortgage bank specializing in financing for one to four family residential properties. Whether you’re looking to purchase a new house or refinance, ICG has options for you! ICG also offers reverse mortgages, which can be a great way to supplement retirement income if you have equity in your home.
ICG offers a wide range of loan products, including FHA, VA, Conventional, Non-Agency (Non-QM), and more! Despite being a local lender, ICG is licensed in 46 states. ICG also has in-house underwriting. One reason why in-house underwriting is beneficial is that it saves time – often in-house underwriting is faster and has a shorter turn-around time. As Pinello says, ICG’s in-house underwriting “allows our team to be agile and nimble when it comes to overall turn time of our borrowers loan and resolving issues in a timely manner.” Occasionally, ICG is also known to offer free appraisals; since appraisals can be a couple hundred dollars, this is a nice bit of savings.
In addition to purchase loans, ICG also offers refinancing. A refinance may be right for you if you can get a lower rate, thus reducing your monthly payments. If your credit score is better now than at the time when you got your loan, ICG may be able to help. Refinancing can also be a great way to budget for home improvements, consolidate debt, or remove private mortgage insurance from your loan. Could refinancing benefit you? Contact ICG to find out!
ICG helps borrowers understand the loan process by teaching them about the 3 C’s: Credit, Capacity, and Collateral. Credit refers to your credit score and credit history, which is often used to determine how you manage debt and what rates you’re eligible for. Capacity is whether or not you will be able to afford your monthly loan payments; this is very important to calculate and understand, as it helps you set your budget. Finally, collateral is what’s used to secure the loan – in many cases, for home loans, it’s the property itself that acts as collateral.
It’s important that borrowers understand the loan process, but it’s also important that the mortgage lender you choose understands you and your situation. ICG takes the time to get to know their borrowers’ stories, what’s important to them, and whether or not a home loan will benefit them financially. ICG doesn’t try and push anyone into a home loan; they want their customers to get the loan that they deserve. In fact, their website states: “At ICG our foundation is a commitment to do right by our customers the first time and every time.”
Every applicant is paired with a mortgage specialist from ICG who is licensed to do business in the applicant’s state. This way, they can ensure that the loan is compliant with local and state laws and regulations. Having a specialist licensed in your state is also useful because they can be familiar with your area, and may have unique recommendations to make the process easier.
In addition to having a dedicated mortgage specialist, applicants also have access to the Electronic Loan Center. Through the Electronic Loan Center, applicants can monitor their application’s progress, receive and sign disclosures, and upload documentation. The great thing about having an online application center such as this one is that all of your documents are kept safe and secure in the same place, where you and your loan specialist can easily find them.
With their national reach, great borrower reviews, and monthly loan volume in the millions, it’s obvious that ICG is a very successful mortgage lender – yet, they haven’t lost sight of the importance of local lending and borrower community. They also haven’t let themselves stagnate – ICG is constantly looking at ways they can improve and make the mortgage process better and easier for their borrowers. In a time of growth and technological change, ICG is at the forefront to bring improvements into their company while also ensuring borrowers remain comfortable and familiar with what they already know.
As branch manager, Pinello supervises employees, assists customers, and provides outstanding customer service! He says he went into the mortgage business because he wanted to make a huge impact in people’s lives. As buying a home is often the biggest financial decision a person will make, your mortgage lender will help make that possible and guide you in the right direction. At ICG, Pinello’s goal is to help customers by putting them into a better financial position and helping them through all the ups and downs. His advice for someone looking to get a home loan? “My advice is to take your time. Do not just jump into a home right away. Understand the process of homebuying first and what goal you are looking to accomplish.” At ICG, you can find someone to help you learn, understand, and find your goal.
ICG is rated very highly by its borrowers, who state that they are “very professional and compassionate.” ICG guides borrowers through the loan process, helping them find solutions that work best for them without forcing them to do anything. ICG offers multiple programs and options so that borrowers have a choice of what program to work with. By understanding their borrower’s financial situations thoroughly, they can recommend the programs that may best for their situation. As their website states, “At ICG our commitment to our customers is that the loans we issue always provide a tangible financial benefit.” ICG considers its borrowers to be a part of the ICG family!
ICG was founded over 14 years ago and has a A+ Rating from the Better Business Bureau. They’re also licensed by the U.S. Department of Housing and Urban Development.