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Home > Financial Services > Mortgage Brokers > Lakeside Mortgage Co.
Lakeside Mortgage Co.
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 them dually a percentage of the loan or property amount.
Here's how it works Lakeside receives a loan request from a client or acquaintance. Lakeside officers who are also Kafoury partners review the quality of the loan and collateral. If the loan meets Lakeside's criteria, inquiries of potential lending sources generally clients are made. If the supply of money meets the demand for the request, a loan is consummated via a licensed title company. From the borrower's loan proceeds, fees and closing costs are paid to Lakeside. The lender pays none of the costs. The rates their lender/clients demand are prime plus 2 or 3 points. The rationale behind borrowers paying a higher rate to the lender is that Lakeside moves very quickly to close a deal; so much of the red tape that certain mainstream lenders are confronted with is avoided. Their clients needed a way to secure loans without the hassle. The solution Lakeside Mortgage Company is a subsidiary of Kafoury, Armstrong and company.
Lakeside Mortgage Co. assists you through six basic steps in procuring a loan for buying a house or renovation of your home. The six steps are 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 Company is committed to providing the best service to clients seeking it from this industry as also to the pursuit of excellence, integrity being the forefront of their list of objectives.
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