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Home > Financial Services > Mortgage Brokers > Loan Network L.L.C
Loan Network L.L.C
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.
Loan Network is the leading net branch partner in the northwest. Their company is built on helping loan originators become the most successful and highest paid professionals in the mortgage industry. They offer different loan programs such as refinance, Jumbo loans, construction loans, purchase.
If you have a fixed rate loan, the interest rate is set for the life of the loan. However, many companies offer variable rate mortgages, also known as adjustable rate mortgages. These provide for periodic interest rate adjustments. If your loan contract allows the mortgage company to adjust or change the interest rate, be sure you understand when the company has the right to change the interest rate, whether there are any limits on how much the interest or payments can change, and how often the company can change the rate.
A reverse mortgage is a special type of loan made to older home owners to enable them to convert the equity in their home to cash to finance living expenses, home improvements, in home health care, or other needs. With a reverse mortgage, the payment stream is reversed. That is, payments are made by the lender to the borrower, rather than monthly repayments by the borrower to the lender, as occurs with a regular home purchase mortgage.
They offer a proven guide for independent originators to conveniently and successfully close loans on their network. Their system is fast, very profitable and simple, the way it should be.
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