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Home > Financial Services > Mortgage Brokers > C&M Mortgage Team Inc.
C&M Mortgage Team Inc.
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.
Their mortgage professionals give you the personal attention you deserve and treat you with the respect due a valued customer. They understand you're making a commitment in buying a new home, refinancing and mortgage or cashing out your home equity. So they make a commitment to you. Fixed rate loans are available in all sorts of shapes and sizes: 30 year, 20 year, 15 year, even 10 year. Some fixed rate mortgages are called biweekly mortgages and shorten the life of your loan. You pay every two weeks, a total of 26 payments a year which adds up to an extra monthly payment every year.
ARM often have their lowest, most attractive rates at the beginning of the loan, and can guarantee that rate for anywhere from a month to ten years. You may hear people talking about or read about what are called 3/1 ARM or 5/1 ARM or the like. That means that the introductory rate is set for three or five years, and then adjusts according to an index every year thereafter for the life of the loan. Loans like this are often best for people who anticipate moving and therefore selling the house to be mortgaged within three or five years, depending on how long the lower rate will be in effect.
They will help you qualify, apply and be approved for the right mortgage loan for you. Company assists you through six basic steps in procuring a loan for buying a house or renovation of your home. The six steps are; 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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