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Home > Financial Services > Mortgage Brokers > First Equity
First Equity
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.
The firm has built a strong reputation as an outstanding mortgage brokerage firm serving the lending needs of real estate professionals, builders and individual home buyers throughout the California area. The Company is a full service mortgage broker with an experienced staff offering expertise in every area of mortgage lending from purchase to refinance to construction lending. They have access to a full range of mortgage sources and all of their lending specialists are dedicated to finding the right loan with the best rates, terms and costs to meet their clients' unique needs.
The First Equity consists of conventional loans which was originated in the 1930's after the Depression and are the benchmark of all other loan types. This loan has several traits set monthly payments. The periodic payment never changes, the interest rate never changes, the term is for 15 or 30 years, the loan is paid off at the end of the specified term.
Veterans’ administration type of loan is also government backed and is available only to Veterans. Some of the features are no down payment required, low interest rates. A VA loan has an up front requirement of a funding fee FF. This funding fee is a one-time charge which can be rolled into the mortgage amount.
The Company also offers fixed rate mortgages, adjustable rate mortgages, shorter term fixed loan and many more that help the clients. The Company has gained a fair deal of faith from their customers and continues to serve the community with a level of quality few in the industry can match.
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