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Home > Financial Services > Mortgage Brokers > Diamond Springs Financial
Diamond Springs Financial
A mortgage broker is an individual or firm that acts as an independent agent for both the borrower and the lender of a mortgage loan. Mortgage brokers are the middleman between you and the lending institution, which can be a bank, trust company, credit union, Mortgage Corporation, finance company or even an individual private investor. A mortgage broker will analyze your financial situation to determine which lender is the best fit for your loan needs. He or she will submit your mortgage application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. He or she receives a commission from the borrower if the loan closes.
Diamond Springs 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.
In addition to their standard loan programs you can benefit by obtaining their special programs. That allows you to purchase your home with no down payment. They also offer what they call Piggyback loans: 80-10-10 or 80-15-5. Avoid PMI payments, Debt consolidation programs, Home Improvement loans etc. The company provides you with calculators and seasoned professionals to assist you to calculate the monthly payment for different loan amounts, interest rates, and amortization terms. Payment Schedule, Calculates the breakdown of principal and interest payments in a yearly or monthly format. Extra Payment, Calculates how much you can save over the term of your loan by increasing your monthly payment. How Much Can I Afford , Calculates your maximum mortgage amount based upon the monthly payment, interest rate, and term that you enter. How Much Can I Borrow , Calculates how much you can borrow based on your income, debts and desired loan terms. Rent vs Own , Estimates the benefits of owning a home as opposed to renting.
Diamond Springs Financial is committed to helping you find the right mortgage product for your needs.
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