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Home > Financial Services > Mortgage Brokers > Covington Mortgage Inc.
Covington Mortgage Inc.
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.
The company is a full service Mortgage Broker that specializes in hassle free, fast loans. Their company's mission is to provide superior customer service by providing fast and competent services to their customers. They offer a diverse array of funding sources in order to ensure competitive rates and prompt funding while providing their clients excellent service and satisfaction. Their loan originators are straight forward and honest with their clients. Their representative’s experience and determination will provide you with the finest mortgage experience possible.
Their values of integrity, professionalism and customer service along with their experience and skills set Covington Mortgage Company, Inc. apart from the competition.This is the most common type of loan and has two distinct features. First, the interest rate is fixed over the life of the loan. Secondly, the payments do not fluctuate over the life of the life and are scheduled to repay the loan at the end of the loan term. Conventional loans are available for 30, 20, 15 and 10 year loan terms. For example, on 30 year conventional loan you would pay 360 equal payments of principal and interest. Lower term loans also have equal payments but they have shorter payoff periods and higher payments with slightly lower interest rates.
Has a maximum interest rate adjustment of 1 percent every six months. The Treasury Average index generally reacts more slowly in fluctuating markets so adjustments in the ARM interest rate will lag behind some other market indicators.Has a maximum interest rate adjustment of 2 percent every 12 months. The treasury Average index generally reacts more slowly in fluctuating markets so adjustments in the ARM interest rate will lag behind some other market indicators.
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