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Home > Financial Services > Mortgage Brokers > ABC MORTGAGE CORPORATION.
ABC MORTGAGE CORPORATION.
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.
The Company is local home buying specialists and will find you the best loan at the best rate for your home financing needs and goals, every time. Getting pre qualified for a loan is critical in today's real estate environment. By going through the loan process prior to signing a purchase contract on a home, you can eliminate all of the obstacles to borrowing without jeopardizing an actual purchase transaction.
The Company has all of the options for you. Once your loan is approved, your real loan closing will be quick and subject only to a satisfactory appraisal and title report on the home. If you wish to consolidate debt, remodel your house, buy a car or pay off college expenses, a Home Equity loan or line of credit is a viable option for you.
You can choose from a traditional loan or a line of credit, where you borrow only what you need. Find out the advantages and disadvantages of each and decide which would be best for you.
The Company will want to verify certain information about you and the property. Borrower information will include verification of income and employment, assets, and your credit history. You, the applicant, as part of your application process, will usually provide some of this information. Other information, such as your credit history, will be obtained directly from the credit bureaus.
For the property itself, they will order an appraisal in most cases and a legal description of the property, such as a title report. They have approved Appraisal Company lists, so if you have an old appraisal, they may be able to accept it.
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