About Kyle

A familiar face in the area, Kyle has resided in Kalamazoo for over 30 years and comes to Arbor Financial with over 24 years of experience in mortgage lending. Since 1997, Kyle has been a member of the Greater Kalamazoo Association of REALTORS (GKAR), where he has served on the Education Committee, and previously served on the board for the Kalamazoo Neighboring Housing Services as vice president. Kyle is well versed in Conventional FHA/VA Government, Rural Development, and Jumbo Loans. Additionally, he specializes in first time home buyers, vacation or second home seekers, and to people who have moved numerous times.

Contact Information

Meet Kyle Townsend, Mortgage Loan Originator.

Email: ktownsend@arborfcu.org
Direct Phone: 269.488.5098
NMLS Number: 576723

Connect with Kyle on LinkedIn   Apply with Kyle

View Mortgage Specials
Evaluation required and ordered by a lender to determine value based on physical inspection and comparable sold properties.
Costs associated with purchasing the home and closing the transaction.
Monthly debts (from credit report) plus PITI (principal, interest, taxes, insurance) divided by gross monthly income = DTI.
Required if not putting 20% down. This is an additional monthly fee for the lender to pay property taxes and homeowners insurance (i.e. Principal and interest are $600.00/month. Property taxes are $2,000.00 annual ($166.67/month). Homeowners Insurance is $600.00 annual ($50.00/month). Total monthly payments will be $816.67).
Loan amount divided by purchase price equals LTV.
A closing cost charged by the lender for processing the loan; may also be called Processing Fee or Underwriting Fee.
Principal, interest, taxes, insurance.
The borrower has the option to buy down the interest rate by buying a point. A fee is added to closing costs (i.e. For 1% of the loan amount, the rate will be reduced by .25%).
Items that are required to be pre-paid for closing of the loan. If you escrow for homeowners insurance, one year of prepaid homeowners insurance is required.
Insurance to the lender that the property is free of any liens.
Typically required by the lender if LTV is greater than 80%.
At the time of application, you may choose to lock in your rate for a designated period of time or float and lock in at any time prior to close.

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