Darryl Bergstresser has over three decades of experience in consumer, auto and mortgage lending. As a third generation United States Veteran who was raised on an 80-acre farm in Oklahoma, he is no stranger to hard work and determination.
He started his career in 1986 as a loan officer for one of the largest national consumer lenders of the time and worked his way up to Assistant Vice President of Business Development. After nearly 10 years with the company, Darryl moved on and had repeat success – once again going from Loan Officer to Assistant Vice President of two other fortune 500 companies.
During this time, he obtained an F&I (finance and insurance) License from the Monumental Insurance School in Atlanta, Georgia, and later in 2006, he became a licensed Realtor in the state of Oklahoma. This led to him co-authoring “Real Estate Rock Stars: Real Estate Leaders Rocking the Real Estate Industry Today” which debuted at #1 on Amazon. Although he still functions as a referral Realtor, today Darryl’s focus is on mortgage lending.
Having served as a member of the 245th Medical Clearing Company for the Oklahoma Army National Guard, Veterans hold a special place in Darryl’s heart. Although he is experienced in all types of mortgage loans, Darryl is especially passionate about VA and USDA Rural Development (RD) lending.
Licensed in Oklahoma, Texas, and Arkansas, Darryl has helped hundreds of families achieve the dream of homeownership. Darryl describes himself as being intensely in service to others and does whatever it takes to help his client’s. “I do not give up on people. I am always on my client’s side and can help guide them in cleaning up their credit and finding a path to owning their own home.”
By staying up to date on the ever-changing guidelines in mortgage lending and building solid relationships with realtors and clients, Darryl is a wealth of knowledge and a great resource for anyone looking to buy, refinance, renovate or build a home.
If you are ready to start your homeownership journey, or curious if buying a home is possible for you, reach out to Darryl Bergstresser and find your way home!
I am committed to being in your corner and promise to empower you with all the information needed to choose the right loan for you
Mortgage Programs Explained
There is no one-size-fits-all when it comes to mortgage lending. MiMutual has numerous loan options to fit every budget and situation. At MiMutual Mortgage, you can expect a one-on-one consultation to determine the right loan program for your unique situation.
A Conventional loan is a mortgage not guaranteed by the government. However, most conventional loans will follow the guidelines established by Fannie Mae (FNMA) and Freddie Mac (FHLMC). This type of loan is good for borrowers with a favorable credit score and allows more flexibility in loan terms and higher loan limits.
Unlike FHA, VA or RD loans, conventional loans do not require private mortgage insurance (PMI) unless the borrower has less than 20% down. 20% down however, is not a requirement and some conventional loans allow as little as 3% down! Once the loan reaches 20% equity, PMI can be canceled.
In addition to standard conventional loan programs, MiMutual Mortgage also offers the following niche conventional loan programs:
- Fannie Mae HomeReady
- Freddie Mac Home Possible
- Freddie Mac HomeOne
- Freddie Mac Refi Possible
Government loans are backed by the federal government. The loan is funded or originated by the mortgage company, but has a guarantee from either the Federal Housing Administration (FHA), USDA Rural Development (RD), or US Dept of Veterans Affairs (VA).
Government loans open the door for borrowers that have little to no money saved for a down payment, a challenging credit history or have lower credit scores. Government loans offer easier qualifying requirements and are widely used in the industry.
Government-insured loans can be used for purchase, renovation (through the FHA 203(k) loan), or refinance transactions.
Government loan programs include:
- Federal Housing Administration (FHA)
- USDA Rural Development (RD)
- Veterans Affairs (VA)
The Federal Housing Finance Agency (FHFA) sets a limit on the dollar amount a conventional loan must conform to. Any loans beyond this limit are known as a Jumbo loan. With a Jumbo Loan from MiMutual, you can expand your options and find your dream home that will meet your needs now and in the future.
MiMutual Mortgage offers a number of Jumbo Mortgage Programs to fit a variety of situations. These include Purchase loans, Asset-Qualifier, Rate and Term and Cash-Out Refinance loans.
- As little as 10% down
- Loan amounts up to $4 Million
- Primary residence, second homes, and investment properties are eligible
Don’t have much saved for a down payment?
We can help with that!
Down Payment Assistance (DPA) can:
- Reduce out of packet cash to close
- Put cash savings to work by improving the home and growing equity
- Free up cash to pay down student loan debt or other bills
- Save cash to start investing for the future
MiMutual Mortgage offers a number of down payment assistance programs including:
- Chenoa Fund DPA for FHA financing
- The National DPA for Conventional financing
- State Housing Finance Authority DPA and MCC
MiMutual Mortgage is a Renovation Loan specialist. We were even featured on the Lifetime Network “Designing Spaces” home design television show! With a Renovation loan, you can bundle the cost of purchasing or refinancing with the cost of renovation into one single loan!
MiMutual Mortgage offers the FHA 203k and Conventional HomeStyle renovation loans. These allow for the same qualifying factors as a traditional FHA or Conventional loan with the ability to lend up to the estimated after-improved value of the home!
Eligible renovations include:
- Small repairs with a minimum renovation cost of $5,000
- Kitchen remodels including appliances
- New roof
- New flooring
- Instillation of an in-ground pool
Still not finding what you are looking for?
MiMutual Mortgage has a number of unique loan programs including:
- Qualifying on assets without income
- Real Estate Investor programs including DSCR
- Self-Employed financing options
- Bank statement qualifying
You are about to begin the mortgage loan application
- Applying on the MiMutual Mortgage Online Loan Application is quick, easy, and secure! The loan application will take about 25 minutes to complete.
- Once your application is submitted, you can log back into the MiMutual Mortgage Online Loan Application to securely upload requested documents, view your loan status, and communicate with your mortgage team.
- If you have questions, reach out to your MiMutual Mortgage Loan Officer.
Your guided mortgage journey starts here!Start Application