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Home > Financial Services > Mortgage Brokers > Southside Mortgage Corp.
Southside Mortgage Corp.
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.
Southside Mortgage Corporation has been serving Southside Virginia for over 10 years. Owner, Bruce Settle, has been in the banking, mortgage and lending business since 1976.Our company provides the following First Time Home Buyer Programs, Conventional and VA Loans, Home Equity Lines of Credit, Special Credit Needs, Construction and Commercial Loans.
Community Homebuyer Program for first time homebuyers whose income allows them to qualify for this program. Borrowers must have 3 percent of their own funds to use as a down payment. Fixed Rates mortgages are available for 30, 25, 20, 15 and 10 year fixed rates available with a 5 percent down payment. They have over 25 different adjustable rate loans for borrowers to choose from. They also offer Balloon Loans on 3 decades of amortization with both a 5 year and 7 year balloon. Jumbo loans are available for loan amounts above $419,000. Through pledged assets program borrowers can pledge liquid asset CD, IRA, Mutual Fund in lieu of a cash payment.
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. Southside Mortgage Corporation's mission is to provide you with quality service for all of your mortgage needs and to assist you in reaching your goals.
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