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Residential Bancorp


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 was founded in 1959 as Canton Home Loan and later known as James Financial Corporation, the James family has served the lending needs of Stark County. Residential Bancorp is a Direct and Automatic FHA and VA lender which offers a full range of mortgage loans, including conventional, and sub prime home loans. The quality of their company allows them to become a Fannie Mae seller servicer.Residential Bancorp’scommitment to quality, service, integrity, and professionalism is a standard that is never compromised. They establish a standard of excellence through a team concept. Their mortgage team recognizes the importance of quality, quick, and efficient delivery in the mortgage process.
 
The Company offers loan programs such as conventional loans, portfolio libor arms, FHA loans, VA loans, first time homebuyer, fixed or adjustable payments, no income verification, no income no assets, jumbo loans, renovation loans, no down payment loans, rural housing loans, 500 dollars down payment, reverse mortgages, interest only loans, 80/20 combo loans, bond programs and many more. Conventional Conforming Loan is 5 percent minimum. In addition, programs are available with 0 percent down depending upon special guidelines such as credit scores, interest rate, and term of loan. Private Mortgage Insurance is required if the down payment is less than 20 percent of the purchase price or appraised value, whichever is less. 

The firm believes a mortgage is a promise, one that can build a solid and trusting relationship for the term of your loan. They are dedicated to providing excellent service to their customers, striving to earn repeated business referrals from their many satisfied mortgage applicants. They believe a mortgage is the most rewarding investment made over a lifetime of important financial decisions.

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