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CFL 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.
They help you to set goals, learn how to budget, explain credit scoring and how if affects your ability to borrow money. Let us help you achieve your goals and your dreams, be it for college education, the dreamed of vacation home, an emergency fund or retirement planning. The first appointment is a no cost, no obligation meeting, they will guarantee that you will have learned something to help in the in the understanding of how money and credit works in your situation. They like to offer credit education because of how important it is in their everyday lives. Education is understanding mortgages and fitting the right program to the right situation. First mortgage refinancing, 100 percent purchase programs, Second mortgages and Lines of credit.
They pride their selves on being able to assist the first time homebuyer in learning and understanding the process. They take the time to review the credit process and explain the various lender programs available. The first step is to sit down and go through the pre-qualification process, most real estate brokers will be asking for this information prior to your viewing homes, this will give you a firm idea of what you can afford and enable you to write the purchase offer with the assurance that you can afford the home.
You may extend the term of the loan or drop the interest rate. If you choose to drop the rate, the rule of thumb is the rate should be 1 percent   lower than your current interest rate. There are a multitude of reasons and ways to access the equity in your home, such as lines of credit and second mortgages. When they meet with a client they will help figure out the best possible way for you to accomplish your goals.

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