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Home > Financial Services > Mortgage Brokers > One Stop Lending and Realty
One Stop Lending and Realty
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 Stop Lending & Realty was established in 2000 by Rob McNelis. His idea was to establish a firm that would assist its customers in both aspects of real estate, i.e. the sales side and the lending side. This in and of itself was not a new concept, as other Real Estate companies had Loan Officers within their offices, but Rob wanted to go one step further. He trained his Realtors to become Loan Officers, and his Loan Officers to be come Realtors.
This idea takes one person out of the transaction, meaning one less person to have to track down to get your questions answered, and more importantly one less hand reaching into your pocket. This has allowed One Stop Lending & Realty to save their customers thousands of dollars when purchasing a home. This also benefits a seller as well, because the sales associates at One Stop Lending & Realty can determine a potential buyer’s true ability to purchase a home, therefore reducing time wasted on unqualified buyers.
No Income Verification; Loans where your income is not requested or verified with as little as 10 percent down are stated income loans. There are several varieties of the no-doc loan today. The type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income, or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose income but select a program that does not calculate debt-to-income ratios, allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount.
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