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Home > Financial Services > Mortgage Brokers > Alliance Home Mortgage, Inc.
Alliance Home Mortgage, Inc.
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.
The Mortgage Bankers Association of America is the preeminent association representing the real estate finance industry. Their consumer information site contains several tools and guides to aid in purchasing or refinancing a home.
This can adjust at a higher or lower rate, Conventional 5/1 Arm .This conventional loan will be locked at the initial rate for the first 5 years of the loan and then adjust higher or lower throughout the rest of the term on the loan, Conventional 7/1 Arm, Conventional Loan that is locked at the lower initial rate for the first 7 years of the loan and then it will adjust yearly. This adjustment can increase and decrease throughout the life of the loan.
There are six type of calculator. Monthly Payment ,Calculates your payment for different loan amounts, interest rates, and amortization terms. Payment Schedule, Calculates the breakdown of principal and interest payments in a yearly or monthly format. Extra Payment, Calculates how much you can save over the term of your loan by increasing your monthly payment. How much can they afford, Calculates your maximum mortgage amount based upon the monthly payment, interest rate, and term that you enter. How much can they borrow, Calculates how much you can borrow based on your income, debts and desired loan terms. Rent verses own, estimates the benefits of owning a home as opposed to renting.
Alliance Home Mortgage is committed to helping you find the right mortgage product for your needs. They understand that every borrower is different, and they offer a variety of products to meet your individual requirements. They make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
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