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Home > Financial Services > Mortgage Brokers > Professional Mortgage Planners
Professional Mortgage Planners
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 know that each customer has specific needs, so here at Professional Mortgage Planners, they strive to meet those specific needs with quality service and individual attention. 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. Commercial Financing is underwritten on a case by case basis. Every loan application is unique and evaluated on its own merits, but there are a few common criteria lenders look for in commercial loan packages.
A mortgage in which the interest rate is adjusted periodically based on a pre-selected index. Also sometimes known as a renegotiable rate mortgage, variable rate mortgage or Canadian rollover mortgage. An analysis of a buyer’s ability to afford the purchase of a home. Reviews income, liabilities, and available funds, and considers the type of mortgage you plan to them e, the area where you want to purchase a home, and the closing costs that are likely. A credit risk score is a statistical summary of the information contained in a consumer's credit report. The most they known type of credit risk score is the Fair Isaac or FICO score.
This form of credit scoring is a mathematical summary calculation that assigns numerical values to various pieces of information in the credit report. The overall credit risk score is highly relative in the credit underwriting process for a mortgage loan.
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