Kathy is a military wife and mother. She provides a personal commitment to excellence. She believes that integrity is paramount to forming life-long relationships for both customers and partners. Listening and communication are instrumental to her success. This has made her a leader in the area for VA, Reverse Mortgage, and Renovation and Remodeling lending.
As a Renovation and Remodeling Specialist she teaches both novice home-buyers and professional investors, about the 203K and Homestyle loan products. As one of the areas most knowledgeable Reverse mortgage specialist she doesn’t hesitate to explain advantages or disadvantages of the product. Kathy states. “It can be a lifesaver for the right person but it isn’t right for every situation”. Specialties: Reverse Mortgage, FHA 203K- Renovation and remodeling, VA, FHA and Conventional Loans products . Kathy Hessberger has 30 years of proven management and marketing experience.
Integrity is paramount to forming life-long relationships for both customers and partners.
Kathy and her team are awesome. She possesses a wealth of knowledge that she uses to keep you informed the whole way. Her team was very responsive and professional. Any question i ever had was answered quickly and issue was resolved. I had an absolutely great experience and look forward to working with them again in the future.
The whole process for me was smooth and easy. Thanks to Kathy and her team!! She was super knowledgeable and clear when explaining a step. Not to mention, she took the time and energy to make sure I understood. I would definitely recommend going to her and MiMutual!
Kathy was very patient, dedicated, knowledgeable, strategic, and key to my successful purchase and financing of my home.
Kathy, thank you so much fir helping me getting my loan. You were there giving me all type of advice and all your support. You and your team are the best of the best
Glen Burnie, MD
The process went by quickly. Kathy reached out to me a lot in the beginning to check on how the home search was going. She was more than willing to ensure I was able to close on time!
Working with Kathy was a very pleasant experience. She was very attentive to all of my questions and very timely in responding so that my refi was accurate and agreeable for me. Her team at MiMutual was thorough and worked well with Mr. Edward Martin. I am extremely pleased with their services, collaborations (title company) and will recommend her to any of my friends, peers, and colleagues.
Upper Marlboro, MD
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
MiMutual Mortgage President's Club
Honored to be listed as a President’s Club member in 2021. Thank you to my loyal customers and referral partners.
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