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Home > Financial Services > Mortgage Brokers > Infoloan Inc.
Infoloan 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.
Infoloan was created as a new company with a new vision in April of 1998 with the goal of improving both online and traditional mortgage methods. They developed their business concept for over one year before officially launching in May of 1999. Infoloan was created by people who understand the frustration of acquiring or refinancing a loan on time. They started as consumers who had applied for numerous loans and experienced a wide range of service. They were amazed at the inefficiencies in the mortgage industry and the lack of information for the average consumer. In addition, they examined the commissions within the mortgage industry and found that through a better and more efficient model, they could offer substantial savings while increasing the level of customer service.
Borrowers will need a construction loan if they intend to purchase a home in a new development or if they are building a custom home. Construction loans are necessary because of the longer time frame and special requirements of the building process. A reverse mortgage is a unique type of loan used by older Americans to convert the equity in their homes into cash. The money from a reverse mortgage can provide seniors with the financial security they need to fully enjoy their retirement years. The reverse mortgage has earned its name because the payment stream is reversed. Instead of making monthly payments to a lender, as with a regular first mortgage or home equity loan, a lender makes payments to you. The money from a reverse mortgage can be used for anything from daily living expenses to home repairs and home modifications.
By creating a mortgage model from a consumer's point of view, Infoloan is constantly improving and adding new features for their visitors.
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