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Home > Financial Services > Mortgage Brokers > Equity Plus, Inc.
Equity Plus, 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.
Equity Plus can help you find the answers to your mortgage questions with hundreds of informative articles and interactive tools. Some second mortgage loans may extend for as long as 15 or 20 years others may require repayment in one year. Equity Plus will charge a fee for lending you money. The fee is usually a percentage of the loan and is sometimes referred to as points.
Company provide loans conventional and jumbo loans, supreme loans, FHA loans, VA loans commercial loans. Company provide mortgages fixed rate mortgage, adjustable rate mortgage, balloon mortgage, reverse mortgage, graduated payment mortgage. Most adjustable rate loans have a low introductory rate or start rate, some times as much as 5percent below the current market rate of a fixed loan.
Private mortgage insurance is a type of insurance that helps protect the mortgage company against losses due to foreclosure. This protection is provided by private mortgage insurance companies and allows mortgage companies to accept lower down payments than would normally be allowed.
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.
Many local and state agencies run bond programs to generate funds to help individuals and families with a down payment. Mortgage companies often grade your loan based on certain credit related items such as payment history, amount of debt payments, bankruptcies, equity position and your credit score.
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