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Today the use of a professional mortgage broker is one of the key strategies used by sophisticated Borrowers.
There are many automatic loan-shopping services and mortgage-calculation tools available for you on the Internet. But it's not possible for the individual homebuyer to match the expertise and industry connections offered by a professional mortgage broker. There are hundreds of programs and changing guidelines in the industry which can affect the outcome of your real estate transaction. Your broker can provide the most efficient way to obtain financing tailored to your specific financial goals.
Choosing the right mortgage for your lifestyle could have substantial impact on your net worth.
Very popular "Hybrid ARM" loans are perfect choice for you if you plan to sell the house or refinance within the next 3-7 years. These loan programs offer fixed monthly payment and interest rate for the first 2/3/5/7 years and then turn into a traditional adjustable-rate loan based on then-current rates for the remaining years.
Last year interest rates hit 40-year low level. In 2005 many financial specialists expect series of rate increases. If you plan to stay in the house for a long time, 30-year fixed-rate mortgage may be a good choice, as it gives you security on the low rate locked for the life of the loan. 15-year fixed offers the same fundamentals for the shorter period of time. The negative side is higher monthly payments. However, if your income allows you to pay such amount, you can pay off your loan faster.
Negative Amortization loans are very popular today due to their payment flexibility. You are allowed to make monthly payments that are less than the accruing interest. Therefore, the loan balance will increase by the amount of interest not paid on the loan. If a borrower's income varies throughout the year, this loan option might be the best solution. It gives you the ability to make your payments based on your financial situation. If you are purchasing an investment property, this is also a good program, as it allows you to collect higher monthly income from the rent you receive.
Our signature is timely performance
Timely performance on every stage of the loan submission process is very important for your real estate transaction. Providing all documents and reports to the lenders and title companies before the "due dates" will ensure the success of the deal. We work with the best loan brokers in San Francisco Bay Area for many years. We trust their knowledge and experience. Depending on your transaction specifics (residential building/commercial building/vacant land for future construction purposes) we can recommend you the loan broker specializing in particular type of loan.
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