OPTIONS 
Who We Are
Prompt Mortgage is a mortgage solutions provider. Partnered with investors and financial institutions, we offer home and commercial loans with competitive interest rates and closing costs. We pride ourselves on being different from the competition.
Our mission is deep rooted in our core belief: transparency. We cater to our customers’ needs with honesty, integrity, and respect. We pay importance to hearing and understanding our clients’ needs. Combined with our customer experience principles, we deliver a unique service that eliminates roadblocks and meets our clients’ needs at every stage of the buying process.
Our Founder
John W. Varghese
An engineer by training, John’s heart has always been in entrepreneurship. He began Prompt Mortgage with a vision of an organization that would build relationships and trust in his community. Twenty years later, John’s vision has shaped his business that his clients can trust and rely on while navigating the loan process.
He is also associated with various non-profit organizations around the world.
Loan Options
Fannie / Freddie
An interest rate that remains the same throughout the life of the loan. Offers protection from volatile markets.
An interest rate that adjusts over time based on market conditions but is lower than a 30- year fixed rate.
The original loan amount exceeds the conforming loan limits yearly by the Federal Housing Finance Agency (FHAH). Available only in counties that FHAH designates as high cost.
Government
Popular amongst first time buyers as it is designed for low to moderate income borrowers.
Down payment as low as 3.5%.
Created specifically for eligible military veterans, service members and their spouses. No down payment, no private mortgage insurance and low interest rate.
Non - Conforming
An interest rate that adjusts over time based on market conditions but is lower than a 30- year fixed rate.
Non - Qualified Mortgage
Ideal for individuals with substantial liquid assets available. It allows you to leverage assets you already have, including checking and saving accounts, investment accounts, or money market accounts to secure a loan.
It calculates the ability of a company to use its operating income to reply all its debt obligations, including repayment of principle and interest on both short term and long term debt.