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Interbank Mortgage Corp.


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.

There are four main steps involved in getting a loan. You'll see that they've made your part in them as easy as possible, and they do all the work! That's what we're here for. To determine how much you can borrow, this is a function of a couple things. And given your unique credit and employment history, income and debt, and goals pre-qualify for your loan, this is where the rubber meets the road and you save the most money. You supply information about your employment, your assets, your residence history, and so on.  Once you've made an offer and it's been accepted, it's time to complete the loan application. It couldn't be easier, and you can do it online, right here at their website. When the time is right, they'll order an appraisal of your new home. Your 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'll coordinate with the escrow company to make sure all the papers your lender will need are in order, and you'll sign everything at the escrow/title company's office.

When they pre-qualify you, they help you determine how much of a monthly mortgage payment you can afford, and how much they can loan you. They do this by considering your income and debts, your employment and residence situations, your available funds for downpayment and required reserves, and some other things. It's short and to the point, and they keep the paperwork to a minimum.

Once you qualify, they give you what's called a Pre-Qualification Letter your real estate agent might call it a prequels, which says that they are working with you to find the best loan to meet your needs and that they're confident you'll qualify for a loan for a certain amount.
 

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