Ross Mortgage Corporation is a successful mortgage banking company with a reputation for professionalism, integrity and quality service.  From a single office start up in 1983, Hugh and Tim Ross have built the enterprise into a multi branch full service mortgage banking company.  In 1986, Ross Mortgage acquired Michigan Mortgage Corporation.  Along with the servicing portfolio and personnel Ross assumed all that belonged to Michigan Mortgage including their 1949, date of incorporation.  As a result, Ross Mortgage Corporation celebrates 60 years of service to homeowners and home buyers.  Ross Mortgage Corporation provides mortgage banking services to its customer from its Royal Oak, Michigan headquarters and through branch locations in Michigan, Ohio and Kentucky.  Ross Mortgage is a Fannie Mae approved seller servicer; however Ross sells the servicing rights on all of its originations and is an approved correspondent with the nation's largest wholesalers.  

Business partners Hugh and Tim Ross, Chairman and President respectively share direct operations responsibility along with five other key members of the executive management team.  From the headquarters location this team manages all aspects of the operation that includes originations through both the retail and wholesale channels, underwriting, closing, compliance, loan warehouse and delivery, secondary marketing, accounting, information technology and branch operations. 

Ross Mortgage is a traditional mortgage banking company having established its business through development of referral sources in the residential real estate and new construction communities.  Today, while the realtor and builder continue to be important sources of new business, the closed client data base has eclipsed all others as our number one source of repeat and new business referral.  Ross prides itself on the strong relationships developed with our customers and sources of referral and works constantly to add value to these relationships.  Our goal is to treat each customer with honesty, integrity and respect and to provide the best mortgage solution to qualified customers.

Why Ross Mortgage?

Full Service Lender

Ross Mortgage Corporation is a successful Mortgage Banking company with a reputation for professionalism, integrity and quality service.  Ross Mortgage possesses 60 years of mortgage lending experience including mortgage loan origination, mortgage loan servicing, operations, regulatory compliance and the use of state of the art lending technology.  An approved Seller/Servicer through the Federal National Mortgage Association (Fannie Mae) and the Government National Mortgage Association (Ginnie Mae), Ross Mortgage is also an FHA Direct Endorsed lender, VA Automatic, MSHDA approved and is licensed to make second mortgages.  

Product

As a full service lender, Ross Mortgage is able to offer a comprehensive menu of mortgage products.  Whether the client is a third time trade up homebuyer with flawless credit, or a first timer with little cash and a less than perfect payment history, Ross Mortgage has a loan program to fit the situation.

Price

As a mortgage lender (v. mortgage broker), Ross Mortgage is able to deliver superior service and pricing to the customer.  As a lender, Ross deals directly with the secondary mortgage market.  This direct connection means that mortgages originated by Ross pass directly to the end investor without “mark up” by a broker or middleman.  Ross Mortgage prepares all documentation required for closing and funds the mortgage using its’ own lines of credit.  This provides an additional competitive price advantage and an enhanced level of service.

Technology

You don’t last 60 years in any business unless you possess the ability to adapt.  Today, Ross Mortgage uses technology to deliver the mortgage product to the customer faster than ever before-and at a lower cost.  Lap top loan origination coupled with Artificial Intelligence (AI) underwriting systems allow Ross Mortgage representatives to compress the mortgage process, from what used to take weeks, into a few days, and some cases, a matter of minutes!

A Team of Experts Committed to Quality

The Ross Mortgage advantage extends beyond our ability to deliver the widest array of products that are available today.  Our advantage is that we bring to the table a team of mortgage professionals that work together to deliver quality to each and every client.  From application to loan closing, Ross Mortgage maintains control of every phase of the mortgage transaction, which means peace of mind for our clients.

__________________________________________________________________________________________________________________________________

Loan Programs

Ross Mortgage offers many different types of financing and refinancing options. To find the best option for your situation, contact me to assist you in deciding on the best program for you! 

Conventional Products

A traditional type of financing that lets you establish a fixed monthly payment for consistency in budgeting. With a Conventional loan, you may choose from a variety of terms to structure a payment schedule that best suits your needs. The types of Conventional loan products we offer are:

• Fixed Rates
• Adjustable Rates
• Jumbo Fixed Rates
• Jumbo Adjustable Rates

 Government Products

FHA Loans with Minimal Down Payment

• A FHA Mortgage is insured by the Federal Housing Authority (FHA). The borrower of this loan can finance 96.5% of the sales price of the home, because FHA will insure timely repayment of the mortgage. The maximum mortgage amount for a FHA loan in the greater Detroit area is $297,500. Everyone who has a valid social security card is eligible for a FHA loam. FHA financing can be used by individuals repeatedly.

VA Loans with Zero Down Payment

• A VA loan is a mortgage that is insured by the Veterans Administration. If you are a veteran or a spouse of a veteran, you may be eligible for VA financing. The maximum VA mortgage amount is $417,000.