Paramount is Nationwide "From St. Louis to Seattle"
Missouri  •  Illinois  •  Washington  •  Idaho
Florida  •  California •  Texas 

Trust the experts at Paramount Mortgage Company. We have been serving the mortgage needs of homeowners since 1970, more than 40 years. Our well-trained and experienced staff is here to make sure your loan is handled expertly, promptly and professionally.

Count on Paramount Mortgage Company to be with you every step of the way. Our web site is a great tool-and clients can apply on-line any time of day or night, but we're there in person when it comes to closing the deal.

Paramount Mortgage is a mortgage banking company (not a broker). No need to wait for third party checks or out-of-town wire transfers. We are with you at the closing table, ready to answer your questions, ensure a smooth transaction and save you money in closing fees from the title company. No excuses, no delays.

We're there for you after the loan closes too.

As an independently owned and operated mortgage banking company, we understand the market and can be responsive to the uniqueness of our neighborhoods when it comes to home values and marketability. We can provide you with a wide variety of loan programs and options to meet your individual financing needs.

Whether your priority is the lowest payment, lowest rate or something else entirely, we have a mortgage option to meet your needs.

   What's New:  

Paramount Mortgage has expanded again with a brand-new office in Yakima, WA. You can "Expect Excellence" from Yakima Branch Manager Heather Lee, NMLS ID: 487484, and her entire staff. Paramount Mortgage is nationwide from "St. Louis to Seattle" and serves home buyers in Missouri, Florida, Illinois, Texas, California, Washington and Idaho.

1) What advice do you have for consumers looking to purchase a home or refinance their mortgage?

Know your current situation. It is helpful for consumers to be aware of their credit history. Your credit report my contain out of date, or inaccurate items. Carefully review your credit report and make a note of items that should be fixed. It takes time, but you can correct mistakes successfully with a written request to the individual credit bureaus. It is also a good idea to examine your monthly housing expenses to determine how comfortable your are with your budget without sacrificing other important necessities. Being aware of your new homeownership obligations will allow you to successfully go to the next step.

Work with professionals and build a team (realtors, builders, mortgage bankers). This is an important exercise because professionals will work with your requirements and correlate that information to a proper sales price, loan amount and monthly payment. You may be surprised that you qualify for MORE on paper than what you thought about previously. Insist on meeting face to face with these individuals - and treat your meeting as a job interview - they are working for you.
Get to know the staff at Paramount Mortgage >

2) How will the Fed's actions affect interest rates?

Any rate tied to the prime rate, such as credit cards or home equity lines of credit will see an immediate change. However, the mortgage rates are not directly correlated with the fed's changes. Mortgage rates are tied to the bond market, most notably the 10 year treasury. View today's Rate Lock Advisory >

3) Is this a good time to refinance?

Yes, but there are some considerations. First of all, ask yourself how long do you plan on remaining in your current home? There are fees incurred by refinancing, so if you only plan on being in your home a short time, you may not recoup the fees. To ensure you can make that decision properly, request information in writing that includes all costs and fees incurred in the buying, selling and refinance process. Ask questions if you don't understand any item. As for mortgages, insist on a formal LOCK IN letter to outline the deal - BEFORE YOU GET TO THE CLOSING. Know what you are paying for by reviewing the fees listed on the written material with your mortgage banker. Learn more about refinancing options >

4) What if I am currently delinquent on my mortgage payment?

The most important thing you must do is contact the company where you make your payment and let them know what is happening. Most companies are willing to work out payment arrangements and that could help you save your home. In addition, if you are 62 or older and own your own home, a reverse mortgage is a great way to prevent foreclosure or rectify delinquencies. Learn more about reverse mortgages >

5.) Are there any upcoming changes that will help consumers?

Yes, the FHA has increased their lending limits. A homebuyer can have as little as a 3.5% down payment. Since these are "insured" programs, they are viable for homebuyers who may not have enough cash to secure a conventional home loan. Visit the FHA website for details >

Do you have more questions? Please call Paramount Mortgage at (314) 372-4300, or toll-free (800) 735-5957 - we are here to help you.