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Novum Review

Novum Home Loans is a veteran-focused mortgage lender based in Austin, Texas, built on integrity, service, and personal guidance. With a team that includes both mortgage professionals and former service members, Novum specializes in helping veterans, active-duty personnel, and military families navigate home financing with clarity and trust.

Alongside VA loans, Novum offers a full range of products—conventional, FHA, jumbo, USDA, and investment property loans—supported by educational tools and transparent communication. Their mission goes beyond lending; they aim to empower clients with knowledge and provide a seamless, relationship-driven mortgage experience.

Who is Novum Best for?

Novum Home Loans is best for veterans, active-duty service members, and military families seeking expert guidance with VA loans and personalized service. It also suits first-time buyers who value education, clear communication, and support throughout the mortgage process. With a full range of loan options—VA, FHA, conventional, USDA, and jumbo—Novum is ideal for borrowers who want tailored solutions and a relationship-driven lending experience.

Visit Novum ➜

Novum Home Loands, NMLS #2487386

Pros

  • Expert in VA and military loans with personalized service
  • Offers a full range of loan types (VA, FHA, conventional, jumbo, USDA)
  • Emphasizes education, transparency, and strong communication

Cons

  • Licensed in limited states, so availability may vary
  • Primarily focused on military clients, less tailored for others

What Loans Does Novum Offer?

The lender provides a broad selection of mortgage options designed to meet the diverse needs of homebuyers. Available loan programs include:

  • FHA Loans
  • Conventional Loans
  • Jumbo Loans
  • USDA Loans
  • Investment Property Loans

How Does Novum Work?

  1. Initial consultation & goal-setting - You’ll speak with one of their loan officers who takes the time to understand your financial situation, home-buying timeline (whether 3 weeks, 3 months or 3 years), and overall objectives.
  2. Product selection & preapproval - Based on your needs, they help you choose from a variety of loan products (VA, FHA, conventional, jumbo, USDA, investment property). Then they move you toward getting pre-approved (which includes credit, income, asset verification) so you know your budget and can move confidently.
  3. Application, underwriting & closing - They assist you through the full paperwork process, keep you informed at each step, guide you through any triage of issues (appraisal, documentation, eligibility especially for VA benefits), and aim to close “with confidence.”

What is the Application Process like with Novum?

  1. Get pre-approved or pre-qualified – You’ll start by exploring your eligibility and getting a clearer idea of how much you can borrow. Pre-approval at Novum involves verification of credit, income and assets, which helps you show sellers you’re a serious buyer.
  2. Choose the right loan program – Novum’s team works with you to select the best loan type for your situation (VA, FHA, Conventional, Jumbo, USDA, etc). They’ll talk through your goals, timeline (e.g., buying in 3 weeks, 3 months or 3 years) and what you qualify for.
  3. Complete the application & documentation – Once you apply, you’ll submit required documents (income statements, assets, credit report, etc.). Novum guides you through this step to keep things smooth.
  4. Underwriting & closing – After your materials are submitted, underwriting verifies everything and the loan is cleared for closing. Novum emphasizes clear, proactive communication so you know where things stand.

What Do I Need to Apply for a Loan Online?

To apply for a loan online with Novum Home Loans, borrowers need to provide basic financial and personal documents including:

  • Your Social Security number or tax ID for a credit check.
  • Proof of income (last 2-3 pay stubs, recent W-2s or 1099s, plus tax returns if self-employed).
  • Asset information (bank statements, investment accounts) to show you have funds for down payment or closing.
  • Employment history and employer contact info.
  • Identification (driver’s license or other government-issued ID).
  • If you’re a veteran applying for a VA loan, your Certificate of Eligibility (COE) or the ability to obtain one.

Novum Highlights

  • Veteran- and military-family focused – Built on a commitment to serve those who have served, offering personalized mortgage guidance with empathy and integrity.
  • Wide range of loan programs – The lender offers VA, FHA, conventional, jumbo, USDA and investment-property loans to suit diverse home-buyer needs.
  • Robust education & transparency – Provides resources like a VA loan guide, blog articles, calculators and expert advice so borrowers stay informed.
  • Client-centric process – Emphasizes clear communication, efficient closings, and forming long-term relationships rather than just one-off loans.

The Bottom Line

Novum Home Loans is a values-driven mortgage lender that specializes in serving veterans, military families and homebuyers who appreciate personalized guidance. With a full suite of loan options and a commitment to transparent, relationship-based service, they aim to be trusted providers.

Check out Novum's loan services and get your customized interest rate today.

Visit Novum ➜

Novum Home Loands, NMLS #2487386

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Frequently Asked Questions (FAQ)

A mortgage loan is used to purchase a home or real estate property. It involves an agreement where the borrower repays the loan over a set term, typically 15 to 30 years. The loan is secured by the property, which means the lender holds it as collateral until the mortgage is fully paid off. The borrower repays the loan through monthly payments, which include both principal (the loan amount) and interest.
Securing a mortgage loan typically takes between 30 to 45 days from start to finish. The process includes pre-approval, application submission, underwriting, appraisal, and closing. If you need to secure a mortgage loan as fast as possible, online lenders are a great option. Online lenders can process and approve loans in as little as 15 to 30 days, thanks to streamlined digital applications and quicker approval processes.
Your credit score plays a key role in determining both your mortgage eligibility and the interest rate you'll receive, accounting for roughly 34% to 40% of the decision-making process. Generally, higher credit scores result in more favorable terms and lower interest rates. If your credit score is on the lower side (around 620 or less), there are still plenty of options available. Many online lenders offer more flexible credit requirements, and applying with a co-signer who has a strong credit score can also improve your chances of securing better loan terms.
To improve your chances of getting approved for a mortgage loan, focus on raising your credit score by making timely payments and reducing any unpaid balances on your card(s). Lenders also prefer a lower debt-to-income (DTI) ratio, typically below 43%, as it shows financial stability. Saving for a larger down payment and maintaining stable employment can further strengthen your application. To speed up the approval process, ensure that all documents you submit are accurate and up to date.
To secure the lowest mortgage rates, it's important to maintain a high credit score and keep your debt-to-income (DTI) ratio low, as these factors demonstrate financial responsibility to lenders. Lenders also assess your income, employment history, and the size of your down payment when determining your eligibility. If your financial profile is lacking in one or more areas, applying with a co-signer who will share responsibility for the loan can help boost your chances of approval and possibly lead to better terms.
Pre-approval is a process where you self-report your financial details, such as income and debt, to get an estimate of how much you might qualify for without a hard credit check. It provides a personalized loan estimate and potential interest rate, helping you compare offers from different lenders and determine what you can afford. Pre-approval is a great first step before fully applying for a mortgage, as it allows you to shop around and better understand your options without impacting your credit score.
When applying for a mortgage loan, lenders will use the following documents to assess your financial health and determine your eligibility for a mortgage loan: PROOF OF INCOME (pay stubs, tax returns W-2s or 1099s) • EMPLOYMENT VERIFICATION (a letter or workplace contact) • BANK STATEMENTS (savings and/or checking account balances and other assets) • CREDIT INFORMATION (lender will conduct a credit report check) • DEBT INFORMATION (current debts and/or other outstanding loans) • PROOF OF IDENTITY (driver's license or passport and your Social Security number).
Start by researching online and reading reviews to check the lender's reputation. Then, shop around by getting preapproved with multiple lenders to compare rates. (Preapproval should not impact your credit score, it's simply a preliminary loan and rate estimate). Don't hesitate to ask questions about the loan process and fees. Local real estate agents can also provide recommendations based on their personal experience with mortgage lenders.
If you're facing challenges with your mortgage payments, there are options to explore. Many homeowners refinance their mortgage to modify their loan terms or secure a lower rate if the market has changed (though there's typically a 6 month waiting period from after you close to when you can refinance). Additionally, you can contact your lender to discuss assistance programs like forbearance and loan modification.
You should consider refinancing your mortgage when it can help you achieve a financial goal, such as lowering your monthly payments, reducing your interest rate, switching from an adjustable-rate to a fixed-rate loan, or accessing your home’s equity. It's generally worth considering refinancing if current interest rates are significantly lower than your existing rate (around 0.5% to 1% or more) or if your credit score or financial situation has improved since you took out the loan. You should always factor in the closing costs associated with refinancing before signing any paperwork to ensure it’s a cost-effective move.