Who We Are

 

 

CentrePoint Financial Service is financial services and insurance agent company providing the complete line of services in the Health Insurance and Real Estate Financial market place.  Mr. DeBoer and CentrePoint provides Health Insurance alternaives through as priciple agent and his affiliate broker Quoteselection.com.  
Over the years CentrePoint provides financial services for clients and lenders in  over 20 states and commercially and in all 50 states commercially. The owners of the company have been in the mortgage industry since 1989 acting as a broker and direct lender.
Through the relationship CentrePoint has established with affiliates in finance and in insurance, we offer access to insurance companies, commercial lenders and residential lenders offering FHA SBA and Conventional solutions to liscened loan officers and through individuals working as employees of the afiliated companies.  
We know that as a the Broker for an authorized FHA lender you can provide the correct solution to your clients needs, great savings for you and your client. CentrePoint has originated a wide range of loans including loans for all types of credits both Residential and Commercial. We seek to provide not only the best and least cost solution but also seek to make your refinancing and/or original financing of your home fast and easy.  We also seek to maintain a high standard of integrity and honesty in all of our endeavors.
CentrePoint knows from its clients responses that the insurance and  financing solution it provides has an additional ingredient beyond just costs and the rate and fees, but a timely performance and continued services. We have an intense desire to honor our commitment to provide insurance and  financial information and to provide services in a timely manner, for to do so gives us a significant position in the industry of mortgages and banking services. CentrePoint has learned that referrals from satisfied clients are our best source and our most rewarding business. By establishing control of all phases of its business, CentrePoint assures its clients a higher degree of service and quality.

CentrePoint Financial has continued to meet its business goals with these programs and is continuing to position itself to meet the needs of the future. It has been successful because of its performance and reputation. Its success in attracting qualified and motivated professionals has been to the benefit of all its clients.

It is the objective of the management to always provide and remain committed to giving the very best service for all of our clients!

Insurance Products Offered

Quote Selection Insurance Services, Inc.  offers the "selection" of quality products for individuals, families and businesses.  More importantly we strive to make sure we are current with the up to date professional advice in the ever changing world of insurance and financial products.  This couled with years of experience our broker have is the reason our clients stay with us for year after year.

For Individuals:

  • Health, Dental and Vision Insurance
  • Life Insurance
  • Retirement and 401k
  • Health insurance Savings Accounts (HSA's)
  • Supplemental Insurance
  • Guarantee Issue Medical Plans
  • Tax Advantage Savings Plans
  • Disability
  • Long Term Care
  • Medical Advantage Plans
  • Disability
  • Long Term Care
  • Medical Advantage Plan and Suplements.
  • Final Expense Insurance
  • Cancer Insurance
  • Estate Planning
  • Mortgage Protection
  • Critical Illness Insurance
  • Accidental Insurance
  • College Planning
  • Annuities
  • International Health Insurance
  • Wills and Trusts

For Business:

  • Group Health, Dental and Vision Insurance
  • Group Life
  • Group Disability
  • Group Supplemental
  • Retirement and 401k
  • Differed Compensation
  • Key Man Insurance
  • Buy Sell Agreement Funding
  • Section 79 Plans
  • Section 162 Plans
  • Strategic Planning
  • Start and Exiting Plans
  • Exeutive Bonus Plans
  • Loan Protection

Partners in insurance:

Health Insurance

  1. Aetna
  2. Anthem
  3. Blue Shield
  4. Cigna
  5. Health Net
  6. Kaiser

 

Senior Products

  1. Aetna
  2. Anthem
  3. Blue Shield
  4. Care Firat
  5. Health Net
  6. Humana
  7. Scan
  8. United Health Care

Life and Annuity

  • American General
  • Allianz
  • American Equity
  • American National
  • Assurity
  • Aviva
  • Banner
  • Colorado Bankers
  • Fidelity
  • Forethought
  • Genworth
  • Great American
  • John Hancock
  • ING
  • Life of Southwest
  • Loyal American
  • Lincoln Benefit
  • Mutual of Omaha
  • North American
  • Standard
  • West Coast Life

 

 

Mortgage Product and Program Descriptions

 

Conventional Loans

Conventional loans are loans that are NOT insured by HUD, such as FHA loans, and NOT guaranteed by the Veteran’s Administration, such as VA loans.

Conventional loans require private mortgage insurance (MI) if the loan-to-value of the mortgage exceeds 80%.  We currently offer conventional loan financing up to 95% loan-to-value, up to loan amounts not exceeding $417,000, for purchase or rate & term transactions.  There is currently no private mortgage insurance available for cash out transactions, or for investment property transactions.  Therefore, the maximum loan-to-values available for these last types of transactions are lower than 80% loan-to-value.

Conventional loans INCLUDE jumbo loans, since these loans are also not insured by HUD or guaranteed by VA.  However, at this time, there is no private mortgage insurance available for jumbo loan amounts therefore the maximum loan-to-value available on jumbo loans is 80%.

 

Conforming Loans

Conforming loans are loans that conform to, i.e. fall within the loan amount limits for 1-4 unit residential properties that Fannie Mae and Freddie Mac set. 

The vast majority of these loans are purchased by either Fannie Mae or Freddie Mac, two entities created originally by the Federal government as government sponsored enterprises or GSE’s.  In 2007, Fannie Mae and Freddie Mac were placed into a conservatorship of the Federal Housing Finance Agency, which is what their current status is to this day.

These conforming loan amounts were temporarily raised in 2008 and vary by state and county.  These “temporarily raised” limits that exceed the original loan amount limits set by Fannie Mae and Freddie Mac are known as High Balance Conforming loans, or Super-Conforming loans, and are also purchased by Fannie Mae or Freddie Mac.

There is currently no private mortgage insurance available for these loan amounts.  However, HUD will insure loans up to the high balance conforming limits, with some restrictions, through their FHA loan programs.

 

 

 

Federal Housing Administration (FHA) Loans

The U.S. Department of Housing and Urban Development (HUD) offers programs designed to promote home ownership through the Federal Housing Administration (FHA).  These programs promote home ownership by providing mortgage insurance which protects the lender in the event of a loss.

Neither HUD nor FHA nor the Federal Government lend money, HUD simply insures the mortgage.  However, since the monies are not actually being lent by HUD, the fact that HUD is willing to insure a mortgage does not necessarily mean that the lender is willing to lend on it; even if the mortgage is insured against a loss.  The lender may still feel that there is additional risk above and beyond what HUD can insure and therefore lenders may have additional restrictions (overlays) when lending on HUD insured (FHA) loans.

FHA mortgage insurance is paid by the borrower in premiums collected “up front” (UFMIP) as part of the closing costs, and which can be financed into the loan.   And, it is also paid monthly, in addition to the payment of the principal, interest, taxes, and insurance that the borrower pays.

 

Veterans Administration (VA) Loans

The U.S. Department of Veterans Administration (VA) offers programs to promote home ownership among veterans and eligible members of the armed forces.  These are commonly referred to as VA loans.  VA loans are similar but different from FHA loans.  They are similar in the sense that these programs provide incentives for lenders to lend to our veterans and eligible members of the armed forces, but do not directly lend money.  They are different in the sense that VA loans are not insured by VA or the Federal Government, but they are guaranteed against loss.

Once again, however, since it is not the VA actually lending the funds, lenders have overlays in addition to the guidelines the VA has established for the mortgage loans they are willing to guarantee.

 

Jumbo Loans

Mortgages for loan amounts that exceed the mortgage loan limits set by Fannie Mae, Freddie Mac or HUD’s FHA program are knows as “Jumbo” loans.

Since these mortgage loans are ineligible for purchase by Fannie Mae or Freddie Mac, and are also ineligible for insurance by HUD or guarantees from the VA, qualification guidelines and restrictions are more stringent due to the added risk.

 

 

Available Mortgage Loan Programs

 

95% LTV Financing Conventional Loans

We offer financing up to 95% of the value or purchase price of a home (whichever is less) up to loan amounts not exceeding $417,000.

These loans do require private mortgage insurance, but we do have several mortgage insurance options available including Single Premium, Split Premium and regular Monthly Premium MI.

The minimum FICO requirements at this time are 680 for all borrowers.  Borrowers must have total debt-to-income ratios not exceeding 41%.

In most cases, this mortgage insurance is cheaper than FHA mortgage insurance, so this alternative, for borrowers who qualify, is a much better way to go! J

 

96.5% LTV Financing FHA Loans

FHA loans are popular because, in general, they provide more flexible guidelines for qualifying borrowers than conventional loans.

HUD will provide mortgage insurance for borrowers with lower FICO scores, higher debt-to-income ratios, and higher loan amounts than private mortgage insurance companies.  In addition, FHA guidelines allow the borrower to receive gift funds for their 3.5% required down payment and allow contributions of up to 6% for non-recurring closing costs.

These features make FHA loans attractive for borrowers who would not otherwise qualify to purchase or refinance a home.

100% LTV Financing VA Loans

For borrowers who are veterans or eligible members of the armed forces the Veterans Administration allows home purchase financing up to 100% of the value of a home, up to $417,000.

Like HUD’s FHA program, VA guaranteed loans allow borrowers with little or no down payment, and lower FICO scores than required to meet private mortgage insurance requirements, to purchase or refinance a home.

These features make VA loans attractive for eligible borrowers who will be able to purchase or refinance a home.

 

Jumbo Loan Programs

For borrowers who need or want to purchase or refinance homes with values that require jumbo loan amounts we offer a wide variety of products and programs.

These products range from typical 15 and 30 yr. fixed rate loans, to various types of adjustable rate mortgages (ARM’s), fully amortized and interest only payments, first and second lien home equity lines of credit (HELOC’s), and a unique 40 yr. term loan with a fixed start rate for 15 yrs. with interest only payments for 15 yrs. and only one interest rate adjustment at the end of the 15th year, continuing on a fixed rate with fully amortized payments for the remainder of the 40 yr. term.

Due to the larger loan amounts and lack of private mortgage insurance, or of any other types of mortgage insurance or guarantees, these loans have more stringent credit, asset, debt-to-income ratio, occupancy, and loan-to-value restrictions  than conforming, high-balance conforming, FHA or VA loans.

These restrictions and guidelines will vary depending upon the loan amount requested, the loan program desired, and the available investors.