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Home > Financial Services > Mortgage Brokers > Petrie Mortgage Group, Inc.
Petrie Mortgage Group, 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.
The company intention that this site will provide you, the homebuyer, with enough information to assist you in the purchase of a new home or the refinancing of your existing residence. They have provided a list of frequently used mortgage terms that is designed to help with your basic understanding of the lending process. Their rate guide provides you with timely comparisons of just a few of the many loan programs and rates that are available in the market today.
The companydesigned to assist low to moderate income buyers with income levels up to 100percent of the area median income. This program affords more underwriting flexibility to help borrowers qualify. Maximum loan amount is $252,700. If you financed your home during a period of higher interest rates they can place you in a lower rate program of up to 95percent of the appraised value.
Petrie Mortgage Groupoffers financing to self employed borrowers or special situation individuals who do not wish to provide tax returns, pay stubs or company to confirm income. They accept income as stated and only confirm employment to the extent of position and length of time. These programs will advance up to 95percent of the appraised value.
Petrie Mortgage Group can provide equity financing for up to 80percent of the appraised value at fixed interest rates as opposed to variable rates offered by most banks. Payment terms are available up to 240 months with no origination or brokers fees.
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