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Affinity 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.
Affinity Mortgage 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.

Their company, based out of Iron Mountain, Michigan, is a locally owned mortgage brokerage specializing in residential lending. It was founded in March of 2001; they have affiliate offices located in Marquette and at Stephens GMAC Real Estate also in Iron Mountain. Affinity Mortgage is able to assist in the financing of manufactured housing, jumbo mortgages, construction loans, raw land, acreage, and rural development loans.  In addition, they can also assist in the financing needs of the self employed and those with less than perfect credit. 

A conventional loan has a fixed interest rate in which the principal and interest payment remains the same over the life of the loan. Terms from 10 40 years are available. An adjustable rate mortgage ARM offers payment terms up to 40 years.  Rates are generally lower than fixed rate mortgages.  This allows you to qualify for a higher loan amount.  A borrower can also choose an ARM product based on the length of time they plan to occupy the house.  

Home equity loans offer a fixed rate term loan while a line of credit allows you to borrow only what you need and pay monthly interest on that balance. These loans are often done as second mortgages and are sometimes used to finance the down payment on a purchase.The firm committed in helping you to find the right mortgage product for your needs.    

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