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Home > Financial Services > Mortgage Brokers > JDT Lending
JDT Lending
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.
JDT lending acts as a bridge between clients and lenders during the mortgage transaction, providing the most efficient way to obtain financing tailored to their client’s specific financial goals. They offer Fixed rate mortgage, adjustable rate mortgage, Interest only mortgages etc. Fixed rate fully amortized loans have two distinct features. First the interest rate remains fixed for the life of the loan. Secondly the payments remain level for the life of the loan and are structured to fully repay the loan at the end of the term. The most common fixed rate loans are 15 and 30 year mortgages. Fixed rate mortgages are also available in 10, 20, 25 and 40 year terms.
Most adjustable rate mortgages have a low introductory rate. The start rate can be in effect for as little as 1 month to as long as 10 years. The lower the start rates the shorter the time before the loan makes its first adjustment. During the adjustment period rates generally increase once a year. The amount the rate can adjust during a single period and over the life of the loan has a cap. This limits how high the interest rate can increase during the adjustable period. Interest only mortgages are as stated interest only for a fixed amount of time and after that period the loan is amortized for the remanding life of the loan. For example on a 3 yr interest only loan typically you would be responsible only for the interest during the first 3 yrs. The next 27 yrs.- 30 yr. term the payments would be principal and interest. Interest only periods generally range from 1 to 10 years.
JDT Lending is committed to helping their clients find the right mortgage. They understand that every client is unique, so they tailor a mortgage to fit each client’s needs.
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