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Home > Financial Services > Mortgage Brokers > NewStar Mortgage
NewStar 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.
NewStar Mortgage is a full service mortgage banker with in-house underwriting and loan processing. The company was originally chartered in California in 1979 and established an extensive mortgage network through southern California. In October 1997, they initiated its mortgage lending services in North Carolina.
The company offers a full lending portfolio to include conventional, jumbo, fixed, ARM, FHA/VA, conforming, non-conforming, sub-prime and hard credit loan products. They also have table-funding capabilities.
The more you know about their home loan program, the more you will realize how little red tape there really is in getting a VA loan. These loans are often made without any down payment at all, and frequently offer lower interest rates than ordinarily available with other kinds of loans.
Jumbo Loan is a loan which is larger than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate. Construction Loan is a short term interim loan for financing the cost of construction. The lender advances funds to the builder at periodic intervals as the work progresses.
The mission of NewStar Mortgage is to expand the delivery of mortgage services and products to consumers that matches, and often exceeds, those offered by other financial service providers.
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