By Katie Agness
Specializing in residential mortgage loans, OnQ Financial supports family purchase, refinances and cash-out transactions up to $2 million.
“We also have sources for one-time close construction, remodel and renovation programs, foreign national loans and bank statement programs,” says Monica Jenkins, mortgage consultant for OnQ Financial. “We also originate all the local and state down payment assistance and first-time homebuyer programs.”
OnQ Financial was founded in 2005 with 12 employees and expanded into the Austin market in December 2012 by opening its primary branch location at Lake Austin and Capital of Texas Highway. “Today, we have over 600 employees in more than 70 offices in 41 states with annual volume of roughly $3 billion,” says Aaron Page, mortgage consultant for OnQ Financial. “Our Austin market is looking at expanding to include a North Austin/Round Rock branch and a South Austin/Dripping Springs location.”
For Jenkins and Page, who are both responsible for their own production teams, finding high-quality team members is important as they grow and expand their business. “We currently have six highly experienced mortgage consultants as part of our Austin group and we are looking to grow and add other like-minded individuals with the same level of knowledge and experience,” Jenkins says.
Licensed to lend to anyone financing a property in Texas, OnQ Financial works with a range of clients, including those with low credit scores, first-time buyers, investor loans, jumbo and super jumbo loans, refinancing and purchases. Regardless of the lending type, OnQ Financial is dedicated to its customers. “We originate loans at a very high level, and we are each responsible for every step of the process from initial client contact through loan application, processing, underwriting and closing/funding of the transaction,” Page says.
To ensure a quality experience for its customers, OnQ Financial offers a 15-day guarantee close on their conforming purchase transactions for Conventional, FHA and VA. “We will pay the buyer and seller of the transaction $1,000 each if we do not meet the contract closing deadline,” Jenkins says.
Page adds, “We also provide a full underwriting loan approval for all loans without properties, which allows a buyer to be fully credit approved and to submit an offer without a financing contingency. Both of these benefits with OnQ Financial put the buyer and their REALTOR in the best possible position to ‘win the bid’ in a competitive seller’s market such as Austin.”
As the local real estate market continues to become more competitive, OnQ Financial recognizes the importance of working with a reputable, successful lender. “Austin is such a strong sellers market, and due to inventory issues, that is not projected to change anytime in the foreseeable future,” Jenkins says. “So it is of paramount importance that clients are fully credit approved before submitting an offer on a home and that their lender has strong credibility in the marketplace for being able to close the transaction quickly, smoothly and on time.”
Dedicated to building quality client and partner relationships, OnQ Financial steers away from just being a “transactional” lender. “Our goal is to develop lifelong relationships,” Page says. “We aim to make the process a smooth and easy experience for the borrower and his/her REALTOR, as well as for the listing agent.” RL