Many home buyers assume that “mortgage companies” are banks that lend their own money. In fact, that is not always the case; you may find that the company is a mortgage broker, a lending institution or a bank.
A banker is a direct lender; it lends you its own money or the money of people who have deposited into the bank, although it often sells the loan to the secondary market. If... |
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For loan officers and mortgage brokers we are constantly on the look out for leads. Here are a few ideas to obtain more of them. By far, your family and friends are your best source of lead referrals. Be sure to make your family and your entire circle of friends aware of the fact that you are working in the mortgage industry and make sure they have a supply of your business... |
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The Roles of A Mortgage Lender, Broker and Sales Agent Buying a home can be an exciting but confusing event, especially if it is your very first time. There are so many options for sales agents, brokers, mortgage lenders, types of mortgages and mortgage rates. It can be difficult understanding all the changing real estate information that seems to constantly be influx. It... |
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Many people rent homes because they are unable to meet the requirements that mortgage lenders set.
The amount of rent they pay, however, is usually more than a mortgage on a similar property would cost. So, the problem isn't in the repayment but in the initial qualifying! Time to get on the net and check this out with a mortgage calculator!
If you are in this situation, it... |
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Having bad credit may seem like the end of the world. Because of a negative credit rating, you may be turned down for personal loans, credit cards, auto loans, and mortgages. Those unfamiliar with bad credit lenders may attempt to obtain financing through a bank or credit union. However,... |
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Where does mortgage money actually come from? When you get a $500K mortgage, who actually writes the checks? Most people have no idea. Does it come from a bank? Does it come from the government or some large quasi-governmental agency like Fannie Mae or Freddie Mac? It all seems so confusing... |
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