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Home > Financial Services > Mortgage Brokers > Benchmark Financial
Benchmark Financial
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.
Benchmark Financial is a Westchester based, New York Mortgage Broker providing mortgage financing in New York and Connecticut for Single Family, Condo, Second Home and 2 to 4 Family properties through their many lenders. As a mortgage broker, they have a wholesale relationship with multiple lenders local, regional and national enabling them to offer hundreds of programs and rate the same or less than going to the banks directly. In addition, you get the access to their knowledgeable staff and the personal service Benchmark Financial provide.
A Mortgage Broker arranges loans that are closed by a mortgage banker or bank that they select to fund the loan. A direct lender closes the loan in their own name. The loan is then typically sold to their investor. A mortgage broker isnot a middle man.
The Company performs most of the work to get approved, clear conditions, get to closing and therefore receive discounts from their many lenders. They select and coordinate with the closing attorney in New York, credit and appraisal companies.
Benchmark Financial does provide more disclosure to clients, the consumer, than a direct lender does regarding fees and income. A direct lender would lead client to believe that broker fees are in addition to what they charge, but is really true when client look closely at what he actually pay, they will see this is definitely not true.
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