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Home > Financial Services > Mortgage Brokers > Green Power Lending
Green Power Lending
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.
At Green Power Lending, their mission is to set a high standard in the mortgage industry. They are committed to quality customer service putting the people they serve first. They will always adhere to the highest degree of integrity in all of their business dealings. In addition, they are licensed in FL, TX, GA, AL.
A mortgage with periodic payments that do not fully amortize the loan. The outstanding balance of the mortgage is due in a lump sum at the end of the term. There is no payment of principal until the house is sold or the end of the loan term, whichever comes first. Interest payments may or may not be deferred until the house is sold.
The borrower's willingness to repay is determined by examining how the property will be used. For instance, will you be living there or just renting it out. Willingness is also closely related to how you have fulfilled previous financial commitments, hence the emphasis on the Credit Report and your rental payment history.
A loan in which the outstanding principal balance goes up instead of down because the monthly payments are not large enough to cover the full amount of interest due. They also called deferred interest. Insurance written by a private mortgage insurance company to protect the lender against losses caused by mortgage default.
To properly analyze a Mortgage Program, the borrower needs to think about how long they plan to keep the loan. If you plan to sell the house in a few years, an adjustable or balloon loan may make more sense. If you plan to keep the house for a longer period, a fixed loan may be more suitable.
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