Based on quarterly 98% or better third party customer satisfaction survey data
Lori started her lending career in 1995 after obtaining her bachelor's degree in Finance from Western Michigan University. Since that time, Lori has become one of the top mortgage lenders in Michiana, having assisted hundreds of home buyers with selecting the mortgage that best fits their needs.
Based on her solid reputation for excellence, she was honored by her peers and elected as the President of the Mortgage Banker's Association in 2006 and 2007. Lori has also served her industry by working on the board for the Women's Council of Realtors and on committees for the St. Joseph County Realtors Association.
While Lori has shown true passion for exceeding customer's expectations, she has never lost sight of what really matters to her husband of 20 years and her three treasured children, aged 12, 14 and 17.
When it comes to financing one of the largest assets of your life, working with a committed professional makes all the difference. Lori Hiscock has the experience, knowledge and passion to provide you with a smooth and enjoyable financing experience.
My customer service philosophy is to treat every customer with respect and to make their experience as stress free as possible. I believe that the purchase of a new home is a major decision and should be treated as such. I strive to make this decision as easy as possible for each client by being honest and trustworthy along with communicating frequently all while offering them sound and reliable advice.
I believe that Ruoff is a great choice for all of your lending needs because we are a locally owned company that has everything that you need. We offer a very wide variety of lending programs through FHA, VA, USDA, and conventional lending. We also keep everything in house, once you begin the loan process your file will be processed and underwritten by a Ruoff employee, this saves you from added headaches and stress but most importantly saves you time and money. Call me today if I can help you purchase your dream home or refinance your existing loan to save you money!!
Confirm your home financing options ahead of schedule
What to Expect
Understanding your home finance options puts you in the driver's seat when you are negotiating your home purchase. Getting a no obligation Ruoff Step Ahead pre-approval letter tells all parties involved that you are a qualified borrower. Because your Ruoff Step Ahead pre-approval letter confirms that your documentation has been reviewed by a Ruoff Home Mortgage underwriter, sellers and agents will both know the transaction will close on time! Get in touch with a Ruoff Home Loan Adviser or simply click on the link above and apply online today. It is fast and easy and you will soon know why Ruoff is a great name to know when you need a mortgage.
Loans That End in "A"
Whether you are looking to make your first purchase or refinance, you may be able to enjoy the benefits of a FHA, VA, or USDA loan.
Take Advantage of a Government-Insured Loan That Is Always a Safe Bet in an Ever-Changing World
FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA) insures the loan, so Ruoff Home Mortgage can offer you a better deal. It is because of that insurance that FHA loans can offer attractive interest rates and with less stringent and more flexible qualification requirements. FHA loans may be used to purchase or refinance a new or existing 1-4 unit family home or condominium unit.
Highlights of the FHA Loan
Down payment of just 3.5%. That money can come from a family member, employer or charitable organization as a gift. Other loan programs do not typically allow this. Low credit score requirement and flexible qualifying guidelines. No income limit on borrowers. 15 or 30-year term with competitive rates. Non-occupant co-borrowers can be used to help qualify.
FHA Eligibility Criteria
Must occupy the property as your primary residence. Maximum loan amount limits that vary by region/city. A borrower is limited to one FHA loan at a time. Must meet the minimum credit score requirement. Must have sufficient income to qualify.
The FHA 203(k) Program
Interested in purchasing a foreclosed property, but don't have the extra cash needed for necessary repairs? The FHA 203(k) loan product is the perfect solution. The FHA 203(k) is a special loan product for borrowers who need extra cash to make repairs to their homes. The chief advantage of this type of loan is that the loan amount is not based on the current appraised value of the home, but on the projected value after the repairs are completed. A "streamlined" 203(k) allows you to finance up to $35,000 in nonstructural repairs, such as painting and replacing cabinets or fixtures. The 203(k) loan can be used to repair a home you're planning to purchase or to make upgrades to your current home.
For more information on FHA mortgage insurance and other FHA loan programs:
By Proudly Serving Your Country, You've Earned the Benefit of a VA Loan
VA loans provide fixed, competitive rates with 15 or 30-year terms. Qualification is easier, even if you have had some credit blemishes in your past. Unlike other loans, you can refinance up to 100% of the value of your home or purchase with no down payment, and there's never a monthly insurance (PMI) charge with VA loan.
Are you a veteran, member of the military, or a surviving spouse of a veteran? Do you want fast approval and minimal red tape? Are you Interested in a fixed-rate mortgage? A yes answer to all three of the above questions suggests that a VA Loan might very well be the right loan for you. Contact a Ruoff Home Mortgage advisor today and discuss the advantages of this exclusive loan product.
VA Loan Highlights
Purchase with no money down. Refinance up to 100% of your primary home's value. The Seller can pay 100% of the closing costs on a purchase. VA Streamline Refinance with a reduced funding fee and flexible documentation requirements - available for veterans currently in VA loans. No monthly PMI (Private Mortgage Insurance). VA loans are governed by the U.S. Department of Veterans Affairs.
Eligibility Criteria for VA Loans
Must occupy the property as your primary residence. Must be eligible for a new mortgage with VA. Must meet minimum credit score requirement. Must have sufficient income to qualify.
A Great Way to Buy a Home in a Small Community or Rural Area
Are you ready to own a home but are not sure you will qualify due to lack of a down-payment? Rural Development may be able to help you! USDA Rural Development has partnered with Ruoff Home mortgage to help extend 100% financing opportunities to individuals and families.
Highlights of the USDA Rural Development Authority Loan
No Down payment is required. Flexible credit score and qualifying guidelines. No maximum purchase price limit. Closing costs can come from any source including gifts. Repairs and improvements can be included in the loan. 30-year term with competitive rates. No monthly mortgage insurance - you may qualify for a larger loan.
USDA Eligibility Criteria
Must occupy the property as your primary residence. Do not own another home within 50 miles. Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home. Purchase a residential property that is located in a Rural Development eligible area.
The Rural Development guaranteed loan program has assisted thousands of customers just like you. Tell your Ruoff Home Mortgage Advisor you want the USDA Rural Development Guaranteed Housing Loan. Assistance options, such as gift funds, grants, seller concessions are allowed and you do not have to be a first-time homebuyer.
Conventional to $453,100
Fannie or Freddie? Not all Conventional Mortgage Lenders are the same, and Ruoff offers both!
Ruoff Home Mortgage currently offers FNMA and FHMLC mortgages.(FANNIE and FREDDIE)
There is usually a difference in pricing and underwriting guidelines between the two GSE's.
What makes an loan a "conventional mortgage"?
Fannie Mae and Freddie Mac determine the guidelines for conventional mortgage loans. These lending GSE's establish terms and conditions including:
Credit Score Minimum Requirements
Maximum loan amounts and Loan to values are subject to change.
Is there a maximum loan amount for conventional mortgage loans?
Yes, in almost all states, conventional mortgages have a maximum loan amount of $453,100. In high cost-areas of the nation, such as Alaska and Hawaii, the maximum loan amount is increased to $625,000. If the loan amount is above these maximums, the mortgage is no longer a conventional loan. Loans greater than the conventional loan maximum are commonly referred to as jumbo loans.
How much of a down payment is required?
Currently In Indiana 5%* of the sales price providing the appraised value is equal to or greater than the sales price.
Can any of the down payment be a gift?
Current guidelines in Indiana and most states allow for all of the down payment to be a gift from a family member when buying a one unit, owner occupied, primary residence.
How are Conventional mortgages different from area FHA loans?
PMI versus MIP- there is a difference. Both FHA and Conventional loans have its place. Newly Originated FHA MIP is for the life of the loan. Conventional PMI drops off at a later date. Also, down payment and credit criteria vary between the two programs. FHA allows lower credit criteria- shorter time after to qualify after a Foreclosure or short sale.
Ruoff Home Mortgage uses a rotational appraisal roster where available. AMC's are only used when we have no appraiser to cover an area.
It is possible to have no Monthly PMI for the life of the loan. Pricing vary based on credit scores. We have an Indiana Matrix with multiple PMI companies. We will always educate and research PMI for you. We work hard to provide you with the resources to save you money. Call us for more information at 260-497-0800
Ratios - What are DTI?
DTI is the ratio of total debt divided by Gross income - Example 1200 debt / 3000 Income=40%.
More About Conventional Loans - Conventional Mortgages for All States (including the Fort Wayne Area)
A Conventional mortgage is what the majority of buyers choose for Home Financing. Conventional Mortgages (also called a conforming loan) are limited to a maximum mortgage of $453,100. Conventional Mortgages are a mortgage loan that is in not in excess of Fannie Mae guideline. The current conforming loan limit is $453,100, making an Indiana mortgage with an amount over $453,100 an Indiana jumbo loan.
A Conventional loan is a considered a conforming loan. The majority of mortgage loans by lenders are conforming loans. Jumbo loans are a small percentage of area mortgages that are completed each year. Although most mortgage loans that are done in the USA are conforming, there are high-cost areas that demand jumbo loans such as California, Florida, Hawaii and other high cost states.
So, where is the best place to get an Conventional mortgage? Ruoff Home Mortgage has competitive offerings on conforming loans for all states, including Indiana. Call us today at 260-497-0800 to save money or apply online by clicking the link below.
Whether you’re a first-time homebuyer or a seasoned veteran of the housing market, IHCDA has a mortgage product to meet your needs.
Your dream home is waiting!
Ruoff Home Mortgage works with the Indiana Housing and Community Development Authority (IHCDA) to provide you a variety of homebuyer incentives.
Whether you’re a first-time homebuyer or a seasoned veteran of the housing market, MSHDA has a mortgage product to meet your needs.
Helping to Own Program offers a 3.5% down payment assistance grant.
Mortgage Credit Certificate Program provides housing assistance by issuing a federal tax credit to first time homebuyers and other qualyfing borrowers.
Next Home Program offers down payment assistance for those who are not first time homebuyers.
Next Home with Mortgage Credit Certificate Program provides down payment assistance as well as a federal tax credit to first time homebuyers.
Affordable Home Program funds FHA loans for first time homebuyers
My Home Program funds loans with conventional financing for those who are not first time homebuyers.
My Home with Mortgage Credit Certificate Program funds loans with conventional financing and provides a federal tax benefit for first time homebuyers
With over 30 years of experience, Ruoff Home Mortgage makes the process of securing a mortgage simple and straightforward – with no hidden costs and no surprises.
Let me use my experience to help you find the loan program that best meets your needs.
Lori was always very prompt with replies, pleasant and easy to work with!
Lori is awesome, so she did everything well. I am in the real estate industry and was able to choose whichever LO that I would like. I chose Lori because she's the best!
Lori was always very prompt with her feedback, which was greatly appreciated in a chaotic and hectic buying/closing process for my family.
I really loved the thorough explanations that were given through the whole process especially from the mortgage initial approval to closing.
Lori was absolutely awesome! She stayed right with me as we worked through some stumbling blocks! I always knew she was in my corner! I can't say enough good things about Lori! She is an amazing person! Lori was perfect! I can't think of anything she could've done better!
Lori was personal and thorough in her attention towards my needs. She was quickto reply and made the process stress-free.
Lori was really clear in explaining and communicating. Her emails were clear to the point with no confusions. Really smooth.
Lori was wonderful. She was always there to answer our questions, and as first-time home buyers, we had a lot of them! She explained so many complicated processes easily and patiently, and helped us feel confident in our decisions.
Everything was expedited so very well. All involved were friendly and helpful and they made me feel at ease with the whole process.
Lori was always there to answer my questions!
Lori did very well answering all the questions that I had in terms that I could understand.
Everyone on the team kept in constant contact and updated me throughout the entire process.
Lori was incredible. She made purchasing a home seamless and painless. She was a joy to work with.
This is the fourth home I have purchased in my lifetime and the entire process was made easier due to Lori's knowledge and personality!
Lori was amazing. I am a first time homebuyer with a LOT of questions and she never seemed impatient with me or made me feel like I was asking ridiculous questions. Even though I know she has other clients, I never felt I didn't get enough of her time or attention. She was very quick to respond and address all of my questions and concerns. I definitely had a great experience and would highly recommend both Lori and the company.
The whole experience was easy and Lori always had an answer for any question. She was great!
Lori is great! This was my second home purchase with her and I have nothing but great things to say about her!
Lori is absolutely amazing! She moved thigns along faster than I ever thought possible! It's easy to see that she loves her job and truly cares about her clients.
Lori was AMAZING! She moved things along so extremely fast for me and kept me posted every step of the way! Everyone was so great at what they do.
I really liked how available Lori was to answer our questions. She was always in touch with us to let us know what stage our application was at and what to expect next. I appreciated that she explained everything in terms we understood.
In a hurry?
Apply Online Today and Determine Your Financing with Fast Professional Service.