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Home > Financial Services > Mortgage Brokers > ACCESABLE MORTGAGE CO. L.L.C
ACCESABLE MORTGAGE CO. L.L.C
A Mortgage is a document that contains the details of an agreement between two parties.One of which is a borrower and the other party is a lender. The agreement will include information like, loan amount, time period of the loan, interest and the collateral on the loan which is normally the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee which is usually a percentage of the loan or property amount.
For over 20 years, they have been helping friends, families, students, newlyweds, retirees, single parents literally thousands of people to achieve the loans they want to make dreams come true. The firm assists you through six basic steps in procuring a loan for buying a house or renovation of your home. The six steps are; getting your documents organized, convincing the loan company that you qualify for the loan, explains the best loan plans from various companies available within your budget, applies for the loan, obtains approval for the loan, and assists in closing the loan.
If you're a first time homebuyer, the last thing you need is a smoke and mirrors approach to home loans. They understand that clear, simple answers are required. Although each customized home financing package has its own variety of features, the concept of a mortgage is really quite simple: a mortgage is a loan made to help you finance a home. Your lender advances you a certain amount of money, which you repay over a specified period.
The total cost of your mortgage is determined by a number of different factors, most notably the interest rate, discount points, and loan fees. The expenses that contribute to the cost of your loan can be expressed as the annual percentage rate (APR). Interest Rate refers to the percentage of your outstanding loan balance that you pay the lender each month as part of the cost of borrowing money. Your interest rate will be based on the current overall rate environment, as well as your financial profile and the specific features of your loan.
Discount One point equals 1 percent of your loan amount; loan fees are up front charges to cover the cost of originating, processing, and closing your loan, among other things. An origination point is a loan fee that equals 1 percent of your loan amount.
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