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CONCORDE MORTGAGE


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.

Since real estate tends to represent the single largest investment most of them will ever make, it is vital to secure the best financing available. Every borrower has different needs, every property is unique and every lender has their own rules and programs. Concorde Mortgage Co., as a Mortgage Banker, provides an extremely important service in the field of mortgage financing, including loan origination, working face-to-face with the borrower, pre-qualifying the loan, verifying the credit and property aspects of the loan and making sure that you, their borrower, are protected in all areas of the loan process. As a Mortgage Banker, Concorde Mortgage Co. will either fund the loan directly or present it to an Investor for funding and servicing.

Adjustable Rate Mortgagesthese loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home. The interest rate changes at specified intervals for example, every year depending on changing market conditions; if interest rates go up, your monthly mortgage payment will go up, too. However, if rates go down, your mortgage payment will drop also. Balloon loans are short term mortgages that have some features of a fixed rate mortgage. The loans provide a level payment feature during the term of the loan, but as opposed to the 30 year fixed rate mortgage, balloon loans do not fully amortize over the original term. Balloon loans can have many types of maturities, but most balloons that are first mortgages have a term of 5 to 7 years.

The company will either fund the loan directly or present it to an Investor for funding and servicing. For providing this valuable service, the Investor gives Concorde Mortgage Co. a wholesale cost. This makes it possible for you, their borrower, to obtain the most competitive rate available. They pride themselves in the number of referrals sent to us by satisfied borrowers and they are committed to earning the respect and confidence of every single client.
 

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