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Home > Financial Services > Mortgage Brokers > Aurora Financial Services
Aurora Financial Services
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.
Aurora financial 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.
They offer programs like Balloon Mortgages, divided in to 7 year, 5 year. Advantages are Lower initial monthly payment, Lower payment for a predetermined period of time. Next type is, First Time Buyer Programs. Advantages are Lower down payment, Easier to qualify, Lower rates may be available. Stated Income Programs, Interest Only Programs, No point, No fee Programs, Imperfect Credit Programs, Home Equity Line of Credit, and Home Equity Fixed Loan.
Tax Advantage is Interest on mortgage loan is deductible on your yearly personal income tax return. Many of the closing costs associated with purchasing your home are deductible, as are your property taxes. From mortgage processing and underwriting, to loan closing and funding, their expert mortgage staff will efficiently expedite your entire transaction. With that in mind, you will receive the highest quality mortgage services.
In pre qualified you have determined, with a loan officer, what price you can afford based on the down payment, your debts and the amount the mortgage company will approve for your mortgage. Being pre qualified is only a determination of your probable credit. If you are pre approved, your credit, employment and funds have been approved by the lender.
Their goal is to make the loan process as simple and worry free as possible. They pride their selves in offering the highest level of customer service and appreciate the opportunity to earn your business.
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