Best Mortgage Brokers in Wichita Falls

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PrimeWest Mortgage Wichita Falls logo
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License Verified:

License: 402685

Nationwide Multistate Licensing System and Registry

PrimeWest Mortgage Wichita Falls

Wichita Falls, TX 76308
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  • Refinance
  • New Construction

Business Description

PrimeWest Mortgage Wichita Falls assists individuals and families purchase residential properties by providing loans. It offers refinancing options to help Wichita Falls homebuyers enjoy modified mortgage terms and lower payment rates. The company also allows clients to cash out on their home's equity to fast-track property ownership. Its mortgage experts work locally to maintain a deep understanding of its customers' needs. The company is part of HTLF, a financial services company that was named Best Bank by Forbes multiple times.

License Verified:

License: 402685

Nationwide Multistate Licensing System and Registry

Professionalism:

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Frequently Asked Questions

Do mortgage brokers need to be licensed?

Yes, all mortgage brokers need to be licensed. Individuals need to complete a 20-hour class that goes over state and federal laws for mortgages and other important information. Next, individuals take the official test with the National Mortgage Licensure System.

Is it difficult to pass the mortgage brokers’ test?

Upon completion of educational requirements, you must pass the mortgage broker test to receive your license. It's a two-part test called the Safe Mortgage Loan Originator Exam, and it can be a bit challenging. Out of almost 87,600 national test-takers, 57% passed on their first attempt. The test includes both a state and national portion and requires a minimum score of 75% to pass.

What is a surety bond for mortgage brokers?

A surety bond is a legal contract that binds three parties — the obligee, the principal, and the surety. Surety bonds are typically required to receive a license for operating as a mortgage broker. When a mortgage broker gets a surety bond, it's a legal guarantee they'll perform their obligations to their customers as required by law.

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