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Home > Financial Services > Mortgage Brokers > Michael McAdams Mortgage
Michael McAdams Mortgage
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.
Michael McAdams has been a Mortgage Broker in Santa Barbara for over 20 years. He started McAdams Mortgage Services 7 years ago after successfully founding McAdams Financial Services. McAdams Mortgage prides itself on knowledge and expertise in the mortgage industry. They work to get you the best loan possible at the lowest interest rate available.
Michael McAdams Mortgage assists you through six basic steps in procuring a loan for buying a house or renovation of your home such as 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.
The Mortgage provides loan programs with the maximum amounts. In that programs include fixed for 30, 20 or 15 years for life of loan, fixed for 10, 7, 5 or 3 years; then converts to 1 year treasury bill ARM, 6 Month conforming LIBOR ARM, 1 year jumbo treasury bill ARM etc. Usually people refinance to save money, either by obtaining a lower interest rate or by reducing the term of the loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts. The decision to refinance can be difficult, since there are several reasons to refinance.
Michael McAdams Mortgage is committed to working with you, the borrower, to get the best loan program possible. Their goal is to provide the best quality service in the industry. At McAdams, all of our trained and experienced staff will provide you with the knowledge and answers to make the process easier.
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