ALL 50 States -
Affiliated Federal Bank
2023 Financial Services of America, LLC
JImPendleton NMLS 684537 ALL RIGHTS RESERVED
TYPES OF LOANS WE OFFER
FHA (Federal Housing Authority)
JUMBO & SUPER JUMBO
VA Loans (Veterans Administration)
SONYMA is for NY residents only first time buyers, special down payment assistance available
o
Conventional Mortgages and SONYMA Mortgages
what is a mortgage broker
Mortgage broker
Intermediary who brokers mortgage loans on behalf of individuals or businesses
A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of
individuals or businesses. Traditionally, banks and other lending institutions have
sold their own products. As markets for mortgages have become more competitive,
however, the role of the mortgage broker has become more popular. mortgage
broker
noun
1. a person or company that arranges mortgages between borrowers and
lenders: "get an independent mortgage broker to check the deal represents a
good rate"
find a mortgage broker
Connecting with an independent mortgage broker in your area means having a local
expert by your side for one of life's biggest financial decisions. Because they are
independent, licensed professionals, mortgage brokers can shop multiple lenders —
giving them access to more home loan options than what a bank or online lender can
offer. The result is a cheaper, faster and easier mortgage for you. One that is tailored to
your specific home financing needs. So, whether you're buying a home or refinancing,
find your perfect mortgage match by working with a mortgage broker.
free mortgage brokers
Initially most mortgage brokers are free, but you should always ask first, to be sure.
Independent mortgage brokers have a very unique edge that makes them very proficient in
service delivery. One advantage of using independent brokers is the array of information and
deals to which they have access. Because they transact with multiple lenders, they are well
connected and have in-depth knowledge about the ins and outs of brokerage service. It is
safe to say that the independent broker is connected to a large number of lenders; some are
connected to over twenty lenders. This variance gives you alternatives and the ability to
make choices that suit your best interests.
independent mortgage brokers
Independent mortgage brokers have a very unique edge that makes them very proficient in
service delivery. One advantage of using independent brokers is the array of information and
deals to which they have access. Because they transact with multiple lenders, they are well
connected and have in-depth knowledge about the ins and outs of brokerage service. It is
safe to say that the independent broker is connected to a large number of lenders; some are
connected to over twenty lenders. This variance gives you alternatives and the ability to
make choices that suit your best interests.
mortgage lenders vs banks
A mortgage lender is an institution that loans you money to buy a house. Of course, you’re
expected to pay the loan back with interest. That’s a given. But the basic idea is that a
mortgage lender makes it financially possible for you to buy a new home. Simple enough,
right? Your Bank is a Mortgage Lender. Your local bank is a mortgage lender.
first time home buyer grants
Grants and specialized loan programs for first-time home buyers are available in cities
and counties throughout the United States. These programs provide down payment and/or
closing cost assistance in a variety of forms, including grants, zero-interest loans, and
deferred payment loans. This is not a complete list, but it can serve as a starting point in
your search for the down payment assistance program or grant for your situation. A grant is
a loan, normally with no payment or interest due, until time or loan period passes. Typically,
10,15 year terms with the conditional rider that says you stay in the home until the time is
up, or you will owe the grantor the money back, minus the time you stayed in your home, all
conditions are disclosed before you are granted the funds.
mortgage broker lender
Mortgage Broker vs Bank. A mortgage broker has the ability to find the
best mortgage program through multiple lenders including large banks.
However, a bank will typically have just their own mortgage programs to
offer with fewer options than a broker. Final take on a Mortgage Broker vs
Small Lender vs Big Bank
broker vs direct lender
The mortgage industry is full of individuals and companies that help people get
access to financing for one of the biggest investments in their lives. These
entities include mortgage brokers and direct lenders. While they may provide
services to people seeking mortgage loans, they are very different. A mortgage
broker acts as an intermediary by helping consumers identify the best lender for
their situation, while a direct lender is a bank or other financial institution that
decides whether you qualify for the loan and, if you do, hands over the check.
lender vs bank
Broker vs Lender. The difference between a broker and a lender is that the
lender provides money to the debtor, whereas a broker is an agent who offers
the loan products provided by various investors. There are two types of lenders,
retail lenders and wholesale lenders. Those who commence with the loan
process themselves are called retailer, and those who hire contractors or
brokers are called wholesale lenders.
loan broker
A loan broker is a person that can help you find a loan or any type of financing
to get your business off the ground. They have built up years of connections
and have a deep network within this industry to find you the perfect loan.
mortgage broker vs mortgage lender
Mortgage Broker vs Bank. A mortgage broker has the ability to find the
best mortgage program through multiple lenders including large banks.
However, a bank will typically have just their own mortgage programs to
offer with fewer options than a broker. Final take on a Mortgage Broker vs
Small Lender vs Big Bank
real estate loan calculator
A mortgage is a loan secured by property, usually real estate property. Lenders
define it as the money borrowed to pay for real estate. In essence, the lender
helps the buyer pay the seller of a house, and the buyer agrees to repay the
money borrowed over a period of time, usually 15 or 30 years in the U.S. Each
month, a payment is made from buyer to lender. A portion of the monthly
payment is called the principal, which is the original amount borrowed. The
other portion is interest, which is the cost paid to the lender for using the money.
There may be an escrow account involved to cover the cost of property taxes
and insurance. The buyer cannot be considered the full owner of the mortgaged
property until the last monthly payment is made. In the U.S., the most common
mortgage loan is the conventional 30-year fixed-interest loan, which represents
70% to 90% of all mortgages. Mortgages are how most people are able to own
homes in the U.S.