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Home > Financial Services > Mortgage Brokers > One Mortgage Place, L.L.C
One Mortgage Place, 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.
One Mortgage Place is a customer focused company that offers services for the residential mortgage market. Their consulting team has 20 plus years of experience in the residential marketplace. Whether you are a seasoned homebuyer, have credit issues, or even if you have had an interruption in employment. One Mortgage Place can help you find the right program.
Fixed rate mortgages are available for 30 years, 20 years, 15 years and even 10 years. There are also biweekly mortgages, which shorten the loan by calling for half the monthly payment every two weeks. Fixed rate fully amortizing 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 repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.
A reverse mortgage is a special type of loan made to older homeowners 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. A reverse mortgage is a sophisticated financial planning tool that enables seniors to stay in their home or age in place and maintain or improve their standard of living without taking on a monthly mortgage payment. The process of obtaining a reverse mortgage involves a number of different steps.
They are committed to putting you in the loan that fits your individual needs. Through the process they take you through your application, pull your credit bureau report at the same time, getting you pre-approved for your loan.
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