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Home > Financial Services > Mortgage Brokers > Guaranteed Mortgage Co.
Guaranteed Mortgage Co.
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.
Guaranteed Mortgage assists their customers by first identifying exactly which loan program fits their own unique financial and personal needs. Then, they search their investors, looking for the right product at the best available rate. If you are looking to purchase a new home in Pennsylvania, Delaware, or Maryland, or simply refinance your existing property, they can help you find the mortgage loan product that best suits your individual borrowing needs. Guaranteed Mortgage Company has nearly 60 lenders to choose from to place your loan, Couple that with over 200 years in the mortgage industry from their lending pros and the result is a mortgage that is right for you.
The amount you can borrow will depend on your income and current debts as well as the value of the home you're purchasing, the amount of your down payment and the current mortgage rates. Generally, your monthly mortgage payment for principal, interest, taxes and insurance should not exceed 36 percent of your monthly pre tax income. Monthly payments on other debts, such as car loans, credit card payments should not exceed an additional 9 percent of your monthly income.
Guaranteed Mortgage 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 know that a quality personnel team matched with quality operation controls will best serve their commitment to delivering quality products and service to their customers.
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