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Bancasa Mortgage Company




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.
 
Conventional loans may be conforming and non-conforming. Conforming loans have terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac. These two stockholder-owned corporations purchase mortgage loans complying with the guidelines from mortgage lending institutions, packages the mortgages into securities and sell the securities to investors. By doing so, Fannie Mae and Freddie Mac, like Ginnie Mae, provide a continuous flow of affordable funds for home financing that results in the availability of mortgage credit for Americans
 
Among the many loan programs the company provides are; Fast and Easy Home Loan Program; Pay Options or Option ARM Loans; Fixed Rate Mortgages and Examples  2/28 ARM Loan.
 
Fast and Easy Home Loan Program: The Fast and Easy home loan program offers borrowers with excellent credit a home loan up to 90 percent LTV without verification of assets or income. Just like its name, it's fast, very easy and there's also an 80/10/10 with a Streamline HELOC which is Home Equity Line of Credit, under this home loan program to avoid Mortgage Insurance. Borrowers can be self employed or salaried, and there are no reserve requirements with a low down payment loan.
 
Pay Options or Option ARM Loans: One of the most creative products that doesn't require a set payment each month is the option ARM. After the First payment, you get four payment options to choose from each month: your lender sends you a monthly statement offering: A minimum payment , Interest-only payment ,  30-year amortized payment, 15-year amortized payment.
 
Fixed Rate Mortgages: With fixed rate mortgage loan the interest rate and your mortgage monthly payments remain fixed for the period of the loan. Fixed-rate mortgages are available for 30, 25, 20, 15 years and 10 years. Generally, the shorter the term of a loan, the lower the interest rate you can get.
 
Bancasa Mortgage Company help Spanish and English speaking clients finance their dream of home ownership. The Company educates and guides their applicants, including the credit challenged, through the process of loan approval. They strive to serve their diverse community in a spirit of honesty, integrity and understanding.

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