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Home > Financial Services > Mortgage Brokers > Universal Funding
Universal Funding
A Mortgage is a document that contains the details of an agreement between two parties. One of which is a borrower and the other party is a lender. The Agreement will include information like, Loan amount, Time period of the loan, Interest and the collateral on the loan, which is normally, the property being bought. A mortgage broker is generally a person or company whose expertise lies in the field of mortgage laws, properties available for sale, and loan procedures. They provide these services to clients for a fee, which is usually a percentage of the loan or property amount.
They know that each customer has specific needs, so here at Universal Funding, 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 find the loan that best suits your needs, at a very competitive rate. They offer conforming, non-conforming and government loan programs.
Fixed Rate Mortgages, Adjustable Rate Mortgages, Standard ARMS and the Differences, Introductory Rate ARMS, Reverse Mortgages, London Inter Bank Offered Rate, Balloon Mortgages, Interest Rate Buy downs, Cost of Funds Index and Graduated Payment Mortgage are the loan programs they offer to their clients. Their prequel is their multi step service that will ask you a series of questions and provide mortgage payment and ratio calculations to help determine your home purchase or refinance prequel status.
Direct lenders or banks are lending their own money and only have their own in house programs and cannot shop a rate or loan program from other wholesalers. This is a correspondent lender; they have multiple wholesalers from which to choose the best loan program and rates to suit their borrower’s needs. Not only can they find consumers a better deal, it is often more cost effective.
The Company also assists you through six basic steps in procuring a loan for buying a house or renovation of your home such as 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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