Paramount Residential Mortgage Group (PRMG) - Ariel Saavedra

Paramount Residential Mortgage Group: residential mortgage financing in the United States

Paramount Residential Mortgage Group Inc. (PRMG) is a privately held mortgage company dedicated to residential home financing. With more than two decades of experience, the company presents itself as one of the top 15 lenders in the mortgage industry and states it has helped numerous borrowers purchase and refinance their homes nationwide. The company is licensed in 49 states, plus the District of Columbia, and is approved by the U.S. Department of Housing and Urban Development (HUD). Its current network comprises nearly 2,000 employees and more than 250 strategically located branches.

Mortgage products for purchase and refinance

PRMG's catalog covers a wide variety of residential mortgage loans, organized into several categories:

• Government-backed loans: include options insured by federal agencies, with lower credit score and down payment requirements than conventional loans, though potentially with higher interest rates. This category includes FHA loans (backed by the Federal Housing Administration), USDA loans (backed by the U.S. Department of Agriculture, designed for low- to moderate-income buyers in eligible rural areas, with zero or low down payment options), and VA loans (backed by the Department of Veterans Affairs, aimed at eligible veterans, active-duty service members, and qualified family members, with lower rates and no down payment).
• Conventional loans: are not insured or guaranteed by any government agency; they typically have stricter credit and income criteria and can be conforming or non-conforming.
• Non-conforming loans: exceed standard limits and do not conform to government-sponsored enterprise guidelines. They include jumbo loans.
• Non-qualified loans: do not meet the criteria set by regulatory agencies, so they are intended for individuals with unique financial situations. They include interest-only loans.
• Manufactured home loans: intended for the purchase or refinance of this type of home, with interest rates usually higher due to greater risk and shorter terms that involve higher down payments.
• Renovation loans: finance renovations, remodels, or energy efficiency improvements, and are useful for homeowners who do not have cash available for such work.
• Reverse mortgages: are also among the available options.

As for the interest rate, borrowers can choose between a fixed rate, which remains constant for the life of the loan and offers predictability, or an adjustable rate, which may start lower than the fixed rate but increase over time depending on various factors.

Institutional backing and issuer activity

PRMG is an agency-approved direct issuer to Ginnie Mae and a licensed seller/servicer of Fannie Mae. The company also channels part of its activity through its 501(C)3 non-profit foundation, PRMG Cares, which donates time and resources to local and national charities.

Ariel Saavedra's team in Miami

Ariel Saavedra serves as Sales Team Lead and is licensed in the state of Florida. His professional page allows you to start a loan application, get pre-qualified, and access purchase and refinance calculators. The team offers personalized attention and, according to collected testimonials, has assisted clients with both primary home purchases and investment property purchases. Reviews highlight professionalism, availability to answer questions, and support throughout the entire process.

Office and customer service

Ariel Saavedra's office is located in Miami, Florida. Office hours are Monday through Friday, 8:00 AM to 5:00 PM. The company also maintains corporate contact channels for general inquiries and third-party approvals.

Location and contact

7500 NW 25th Street, Suite 109, Miami, FL · Phone: 786-400-0971 · Email: ariels@prmg.net · Hours: Monday – Friday: 8:00AM – 5:00PM