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Home > Financial Services > Mortgage Brokers > Crest Financial Group
Crest Financial Group
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.
The Company has a process of electronic filing of most required documents means it gets there faster and you get a decision faster. They were cut down on duplicated information, too give it to them once, their systems remember it so they don't ask again. And beyond their state of the art technology, they have good old fashioned expertise in mortgage brokerage.
Second mortgages taking out a second mortgage on your home used to carry some stigma with it a sign that you were in financial trouble. But today, the ability to borrow money against your property is considered one of the biggest advantages of owning a home. A second mortgage is essentially a loan secured by your home or another piece of property with a first mortgage. The second mortgage allows the homeowner to tap into his or her equity to pay for college tuition, essential home improvements, pay off credit card balances or other pressing financial needs.
Because there is more risk involved with a second mortgage, the lender's conditions are usually more stringent, the term is shorter and the interest rate is higher than for the first mortgage. In the event of default, the holder of the second mortgage is subordinate to the first.
The company overview of the loan process make no mistake, there's a lot involved in getting a mortgage loan. What they do is do most of the heavy lifting for you, so you can concentrate on what's important preparing to move into your new home, saving money, or making plans for your home equity check.
The company realty agent and the seller's will work together to designate an escrow title company to handle the funding of your loan once it's approved. They will coordinate with the escrow company to make sure all the papers your lender will need are in order, and you will sign everything at the escrow title company's office.
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