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Home > Financial Services > Mortgage Brokers > Pacific Mortgage and Loans
Pacific Mortgage and Loans
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.
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.
Company offers fixed rate mortgages for 30 and 15yrs. Advantages of it are Monthly payments are fixed over the life of the loan, Interest rate does not change, Protected if rates go up, Can refinance if rates go down.
The firm also offers adjustable rate mortgages of 10/1 ARM, 7/1 ARM, 3/1 ARM, 1 year ARM, 6 month ARM, 1 month ARM etc. Advantages of it are lower initial monthly payment, lower payment over a shorter period of time, rates and payments may go down if rates improve, may qualify for higher loan amounts. They also offer balloon mortgages for 7 and 5 yrs.
They also offer different types of loan program to meet the needs of customers. They are first time buyer program, stated income programs, no points, no fee program, and imperfect credit program and many more.
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.
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