Joseph Coleman
LOAN OFFICER
NMLS#
142597
Branch Address
2930 Northwind Rd, Baltimore, MD 21234
Phone
Cell: 443-277-4630
Office: 443-798-2764
Social
Joseph Coleman is an experienced Loan Officer who has been helping clients meet their homeownership goals since 1994. A graduate and Delta Phi Omega alumni at Frostburg State University, Joseph began his mortgage career after college and got licensed in Maryland and Pennsylvania. He successfully ran his own mortgage company for 10 years before joining our Baltimore, MD branch. After nearly 30 years in the business, he still loves this industry and the opportunity to connect with people.
With decades of experience, Joseph can provide education on all types of loan programs and products. Not sure if you qualify for a low to zero down payment? Or if an USDA RD loan is best for that home in the country? Or if now is the time to tap into your home’s equity? Or where to even get started on the path to homeownership? Joseph can help! Whether he’s coaching youth football or guiding a first-time homebuyer, he loves helping people get to the finish line.
A jeans and t-shirt kind of guy with a suit and tie mentality, Joseph understands that every client has unique mortgage needs. He can find the loan that’s right for your situation and local housing market whether you are in Pittsburgh, Annapolis or anywhere in-between!
A lover of travel and music, (he recently backpacked Torres del Paine in Patagonia and has been to 200 Grateful Dead concerts), collecting (he has a signed Babe Ruth and Walter Johnson baseball) and cooking (especially Maryland crab cakes), Joseph makes the most of out of life. But what he is most proud of in his personal life is his son, a student at Appalachian State in Boone, North Carolina.
In his professional life, he has the bragging rights to say he got a near perfect score on his NMLS exam – he only missed one question! But for Joseph, his greatest professional accomplishments are the relationships he has built and being able to help turn a renter into a homeowner.
If you would like to start your journey to homeownership or find out how you can take advantage of your home’s equity, give Joseph a call today!
Nearly 30 years in the business, and I still love this industry and the opportunity to connect with people
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.
Highlights include:
- 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
- Additions
- New flooring
- Installation 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
Start Your Mortgage Journey
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