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Home > Financial Services > Mortgage Brokers > Lenders Choice Mortgage L.L.C
Lenders Choice Mortgage L.L.C
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.
Their staff of mortgage service professionals makes themselves accessible to clients around the clock, and strives to obtain the best mortgage loan package no matter what the situation.
Mortgage brokers are knowledgeable of the laws governing taxes that are related to mortgages. Many homeowners find the tax issues related to the home loan refinance process confusing, but your mortgage broker will guide you through the process. To explain briefly, the Internal Revenue Service has ruled that interest paid for refinancing must be deducted over the life of the loan.
However, if the home loan is being used to make improvements to your house, the borrowers may be permitted to deduct a portion of the interest right away. The exact tax laws concerning refinancing are complex and the details should be discussed with your mortgage broker.
One of the many types of home loans offered to borrowers is called a fixed rate mortgage. Unlike an adjustable rate mortgage the monthly payments for a fixed rate mortgage stay stable through out the life of the loan. This type of home loan is most commonly available in 15 and 30-year mortgages and can provide the stability many homebuyers require during unstable economic times.
Lenders Choice Mortgage is a mortgage lending institution that prides itself in providing high quality financial services to the public. It is their mission to provide high quality mortgage programs at the most competitive rates in the nation. Their home loan programs include purchase, refinance, debt consolidation, home equity loans, second mortgages, construction loans, and home improvement loans tailored to your unique situation.
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