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Home > Financial Services > Mortgage Brokers > Community 1st Mortgage
Community 1st 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.
Community 1st Mortgage is a leading independent broker with some of the nation's best mortgage programs. Community 1st Mortgage offers home buyers the opportunity to be pre qualified. By pre qualifying, they will able to assist you in finding a comfortable price range for your new home purchase.
Conventional loans are secured by government sponsored entities such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes with first and second mortgages on single family to four family homes.
If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans. At the same time, home equity lines of credit require you to use your home as security for the loan. This may put your home at risk if you are late or cannot make your monthly payments.
Fixed rate fully amortizing loans have two distinct features. First, the interest rate remains fixed for the life of the loan. Secondly, the payments remain level for the life of the loan and are structured to repay the loan at the end of the loan term. The most common fixed rate loans are 15 year and 30 year mortgages.
Their intent at community first mortgage is to provide a quality and trustworthy service to you, their customers, while maintaining integrity and a strong code of ethics.
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