Mailing Address:
115-01 Lefferts Blvd, 1st Flr

South Ozone Park NY 11420

Phone:
914-328-4646
855-646-5626

Fax:
914-328-3737
Email:
[email protected]
 
Complaints
If you have any questions, problems, or concerns, please contact our Quality Satisfaction Department at 914-328-4646 or e-mail to [email protected] We will respond to all voicemail messages and e-mails within 24 hours after your communication has been received.
     

MGN Funding Corp was founded by Mr. Marlon Seenarine and was incorporated in 1998. Through determination, diligence and much hard work the company became a licensed mortgage banker with New York State, New Jersey, Connecticut and Florida Banking Departments. Additionally, MGN Funding Corp is approved by the Federal Housing Administration (FHA) and Veterans Administration (VA). Throughout the past years, MGN Funding Corp has developed a strong foundation highly recognized by both our clientele and investors.

MGN Funding Corp is aware that our economy presents many barriers to obtaining a home. Many experts feel that homeownership is the key to financial success in America. MGN Funding Corp is fully aware that a client needs honesty, personalized service and expert advice to navigate the pitfalls associated to the mortgage process. Our mission is to educate and provide the best service to our clients.

MGN Funding Corp guarantees a fast turnaround, approvals and hassle free closings. Our experienced loan officers work with clients to select the best mortgage to fit their client’s financial needs. We have numerous innovative products and exceptional programs for residential, commercial, mixed used and investment properties. MGN Funding Corp is a company, learning today, growing for tomorrow.

We are driven by employees, who are accountable to our customers, community and to each other. We are committed to teamwork, allowing employees to create a near perfect company. We envision our company growing and moving in new directions with the continued support of our community. Participation in our community has been one of our hallmarks, and local involvement will continue to be a primary component of our company. We have achieved some measure of success in transforming our self into a community focused financial organization.

Buying a Home

We’re the Home Purchase Experts and we love helping people with Life’s Biggest PurchaseTM. We do everything to make buying a new home and getting a home loan quick and easy. No matter if this is your first home or an investment home for you, we have the information to help you find and get the mortgage that’s right for you.

Choose your home buying goal below to get started:

How much time would you like to have before your home is truly yours? We have traditional mortgage loans that span a large range of terms. With low fixed rates, these offerings are safe and secure loans that you might possibly never want to refinance again.

An FHA loan could be the perfect loan for your specific situation FHA loans were created back in 1934 as the original government program to help people achieve the dream of homeownership, a reputation that continues to endure in today's modern housing market.

The lowest rates for the largest loans A loan is considered ‘jumbo’ if it is more than $417,000 (the current generally accepted conforming loan limit). Some lenders have found it difficult to refinance jumbo loans into low rates in this current housing market. Not us!

Fannie and Freddie have programs to help you refinance even if you have little to no equity If you’re underwater, we can help. Fannie Mae and Freddie Mac have introduced loan programs that allow you to refinance your current mortgage up to 125% LTV. Refinance into a better, more stable mortgage.

ARMs are super flexible and offer the lowest rates There are plenty of reasons why an ARM could be a great choice for you, especially if you only plan on staying in your house for a relatively short time or will refinance again within three to ten years’ time. The benefit of an ARM is a super low payment with a rate that stays fixed for a number of years!


Loans for special situations We have some other more specialized loans that are available for certain eligible individuals, such as VA loans and reverse mortgages.

 

 

 


  1. Start a new application with MGN Funding Corp.

  2. I AGREE to the Credit Check
    You need to AGREE with Credit Check Authorization in order to continue.
    By clicking I AGREE to hereby grant permission for us to obtain all information deemed necessary to process your mortgage loan application. This information includes, but is not limited to, your past and present employment status, your deposit accounts, your past and present consumer credit record, your mortgage record and/or your rental record.
  3. I AGREE to the Patriot Act
    You need to AGREE with Credit Patriot Act in order to continue.
    To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: As part of applying for your mortgage loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
  4. I AGREE to the Electronic Disclosure
    You need to AGREE with Credit Electronic Disclosures Authorization in order to continue.
    By applying for a loan online, you agree to accept all applicable disclosures associated with this transaction in an electronic form, including disclosures required by the Truth in Lending Act, Real Estate Settlement Procedures Act and Equal Credit Opportunity Act. Paper copies will be provided for certain real estate related transactions after your loan application is received.

  5. Loan Information

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Mortgage Rate Assumptions

  • Rates shown assume a Purchase Transaction.

  • Annual Percentage Rate (APR) calculations assume a purchase transaction:- a single-family, detached, owner-occupied primary residence; loan-to-value ratio ≤ 75%; minimum FICO score of 740; and loan amount of $225,000.

  • Rates may be higher for loan amounts under $225,000 or loan amounts over $400,000.

  • Closing Costs assume that borrower will escrow monthly property tax and insurance payments.

  • Payments shown do not include amounts for taxes and insurance. Actual payment obligation will be greater. For adjustable rate loans, after the initial period, rates and payments are based on today's index plus a margin. For interest only loans, the initial payments do not include principal.

  • Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and VA loans as well as conventional loans where the loan to value is greater than 80%.

  • On refinance transactions, the Annual Percentage Rate (APR) calculations assume a single-family owner occupied primary residence; loan-to-value ratio ≤ 75%; Fico score 740; rate and term refinance.

  • Subject to underwriter approval; not all applicants will be approved.

  • Rates based on properties located New York.

  • Guaranteed Rate - 55 Day Rate Lock.

  • Restrictions may apply.

  • Lender Fee $1,990.

  • Document Preparation Fee $250.

  • Settlement Agent Closing Fee $750.

  • Per diem Interest – 15 days

  • Fees and other charges may apply.

  • These assumptions are subject to change without notice. Rate, points and APR may be adjusted based on several factors including, but not limited to, state of property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value and your credit score. Your final rate and points may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply.


Disclosures

30-50 Whitestone Expressway, Ste. 305, Flushing, New York 11354, 
Tel 914-328-4646, Fax 914-328-3737, Toll Free 855-MGN-LOAN (646-5626).

Licensed Mortgage Banker-New York State Department of Financial Services, New Jersey Department of Banking and Insurance, FHA and VA Approved. 

Applicants must qualify according to Credit, Income and Property guidelines. Conditions and restrictions may apply, Rate subject to change without notice.

NMLS# 42791


Fair Lending Policy

MGN FUNDING  is an Equal Housing Lender. We comply with both the Equal Credit Opportunity Act as well as the Fair Housing Act. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race; color; creed; ancestry; religion; national origin; sex; age (provided you have the capacity to enter into a binding contract); marital status; familial status (number and age of children); sexual orientation; if all or part of your income is possibly being derived from any public assistance program; or because you have, in good faith, exercised any right under the Consumer Credit Protection Act or the Service members Civil Relief Act (SCRA); or any other basis prohibited by law.

Fair Lending Policy

MGN FUNDING CORP is an Equal Housing Lender. We comply with both the Equal Credit Opportunity Act as well as the Fair Housing Act. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race; color; creed; ancestry; religion; national origin; sex; age (provided you have the capacity to enter into a binding contract); marital status; familial status (number and age of children); sexual orientation; if all or part of your income is possibly being derived from any public assistance program; or because you have, in good faith, exercised any right under the Consumer Credit Protection Act or the Service members Civil Relief Act (SCRA); or any other basis prohibited by law.