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Home > Financial Services > Mortgage Brokers > Lincoln Financial Mortgage L.L.C
Lincoln Financial 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.
Lincoln Financial Mortgage knows that each customer has specific needs, so they strive to meet those specific needs with quality service and individual attention. They pride themselves in giving you the mortgage information, loan options and convenient assistance you're looking for. With a variety of loan programs and an established network of lenders behind them, they will find the loan that best suits your needs, at a very competitive rate. They offer conforming, non-conforming and government loan programs. The Company provides FHA mortgage. This programs that help low and moderate income families become homeowners by lowering some of the costs of their mortgage loans. An FHA loan the borrower will be charged a mortgage insurance premium equal to 1.50 percent of the purchase price of the property and a renewal premium of .500 percent in subsequent years.
The Company also offers VA loans. A basic funding fee of 2.0 percent must be paid to VA by all but certain exempt veterans. A down payment of 5 percent or more will reduce the fee to 1.5 percent and a 10 percent down payment will reduce it to 1.25 percent. More than 29 million veterans and service personnel are eligible for VA financing. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.
The Company 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.
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