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Madrona Mortgage


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.
 
A strong and genuine belief in the customer for life principle of doing business is what fuels this company. Referrals from previous customers and local real estate professionals have always delivered the majority of the Company's production.
 
They use the most advanced technology available to close loans quickly, at a low cost. By combining the use of the Internet along with advanced processing software and automated underwriting systems they have taken the mystery out of approving and closing a home loan.
 
When buying a house, you may get pre qualified or pre approved. A pre qualification is not as beneficial as a pre approval where you have to go through a more rigorous process, which includes verification of your credit, income, assets and liabilities. It is highly recommended that you get pre approved before you start looking for a house. If you plan to sell the house in a few years you may want to consider an adjustable or balloon loan. On the other hand, if you plan to keep the house for a longer time, you may want to look at fixed loans.
 
If you want to close your loan, your loan will normally close shortly after you have signed the loan documents. On refinance and home equity loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.
 
The Company’s mission is to deliver their customers a level of value and service that exceeds their expectations.

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