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Home > Financial Services > Mortgage Brokers > Source Financial Inc.

Source Financial 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.

The Company never, ever shares it with anyone except by permission that is, if you're giving them information you want them to use to get you the best loan, they use that information to tell mortgage lenders about you and convince them to loan you money. In turn, those mortgage lenders are bound by federal law to keep your information secure.

The Company gives guaranty means the lender is protected against loss if you fail to repay the loan. VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs to eligible veterans for the purchase of a home. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

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.

The Company is committed to providing the best service to clients seeking it from this industry as also to the pursuit of excellence, integrity being the forefront of their list of objectives. They have gained a fair deal of faith from their customers and continue to serve the community with a level of quality few in the industry can match.

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