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Home > Financial Services > Mortgage Brokers > 1st Professional Mortgage
1st Professional Mortgage
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.
1st Professional Mortgage is licensed with department of banking to do residential, investment, and commercial loans for first and second mortgages. They do purchases, refinances, debt consolidation loans or home equity loans. They are a Member of the Chamber of Commerce, National Association of Mortgage Brokers, and the Pennsylvania Association of Mortgage Brokers. They are part of a larger network of professionals to help meet all of your needs. 1st Professional Mortgage has partnered up with local lawyers, real estate agents, financial planners, insurance agents and offers their clients a variety or related services and assistance to help them save money and invest in their future.
As a company they take the approach that every client is different. They take a consultative role to analyze your individual needs and place you in the mortgage that will maximize your cash flow and allow you to achieve your goals. There are some important terms that you should understand when securing a mortgage such as Fixed Rate Mortgages, Adjustable Rate Mortgages, Annual Percentage Rate and many more.
A fixed rate mortgage is the most popular type of mortgage. The interest rate does not change during the term of the loan. Adjustable Rate is a mortgage where the interest rate is adjusted periodically by the lender based upon changes in the index. Annual Percentage Rate the cost of a mortgage, including interest, mortgage insurance and other fees. Mortgage Insurance is that which is required if the buyer is paying a down payment that is less than 20 percent. It is protection for the lending institution.
Their goal is to put their clients in the best financial position so that they may be able to save for retirement, pay their children's education, eliminate credit card debt and start on a new path to financial freedom.
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