With 29 years experience in lending, let me use the knowledge I have to help you find the best financing available for your home purchase or refinance. There are many options for home loans. Whether you are a first time buyer or seasoned investor I would be honored to help find the best financing possible for you situation.
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There's little doubt that getting a mortgage loan is a complex process.
You would not be looking up loan information if it were possible to get a mortgage loan in one day with a simple application.
We do the heavy lifting for you, so you can concentrate on what's important - preparing to move into your new home or saving money.
A couple of factors determine this amount.
How much of a monthly payment can you afford?
What is the maximum you can borrow from a lender, given your income and credit history?
You would not be looking up loan information if it were possible to get a mortgage loan in one day with a simple application.
We do the heavy lifting for you, so you can concentrate on what's important - preparing to move into your new home or saving money.
A couple of factors determine this amount.
How much of a monthly payment can you afford?
What is the maximum you can borrow from a lender, given your income and credit history?
Anything you submit over our website is 100 percent, fully secure.
And we never, ever share it with anyone except by permission -- that is, if you're giving us information you want us to use to get you the best loan, we use that information to tell mortgage lenders about you and convince them to loan you money.
In turn, those mortgage lenders are bound by federal law to keep your information secure.
Here is a list of the information mortgage lenders will use to consider your loan application.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
And we never, ever share it with anyone except by permission -- that is, if you're giving us information you want us to use to get you the best loan, we use that information to tell mortgage lenders about you and convince them to loan you money.
In turn, those mortgage lenders are bound by federal law to keep your information secure.
Here is a list of the information mortgage lenders will use to consider your loan application.
Current balance sheet and profit and loss statement if more than two months into the new fiscal year, signed by CPA.
You'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised.
The easy answer to "why" is that federal law requires the lender to tell you both.
The A.P.R. is a tool for comparing different loans, which will include different interest rates but also different points and other terms.
The A.P.R. is designed to represent the "true cost of a loan" to the borrower, expressed in the form of a yearly rate.
This way, lenders can't "hide" fees and upfront costs behind low advertised rates.
The easy answer to "why" is that federal law requires the lender to tell you both.
The A.P.R. is a tool for comparing different loans, which will include different interest rates but also different points and other terms.
The A.P.R. is designed to represent the "true cost of a loan" to the borrower, expressed in the form of a yearly rate.
This way, lenders can't "hide" fees and upfront costs behind low advertised rates.
When you are promised a "rate lock" from the lender, it means that you are guaranteed to keep a certain interest rate over a determined period while you work on the application process.
This ensures that your interest rate will not get higher while you are going through the application process.
Rate lock periods can be various lengths of time, anywhere from 15 to 60 days, with the longer spans typically costing more.
A lender can agree to hold an interest rate and points for a longer period, say 60 days, but in exchange, the rate (and sometimes points) will be more than that of a rate lock of a shorter period.
This ensures that your interest rate will not get higher while you are going through the application process.
Rate lock periods can be various lengths of time, anywhere from 15 to 60 days, with the longer spans typically costing more.
A lender can agree to hold an interest rate and points for a longer period, say 60 days, but in exchange, the rate (and sometimes points) will be more than that of a rate lock of a shorter period.
A fixed-rate loan features a fixed payment amount for the entire duration of your loan.
Your property taxes increase, or rarely, decrease, and so might the homeowner's insurance in your monthly payment.
But generally monthly payments for a fixed-rate loan will increase very little.
Early in a fixed-rate loan, a large percentage of your monthly payment pays interest, and a significantly smaller percentage goes to principal.
As you pay, more of your payment is applied to principal.
Borrowers can choose a fixed-rate loan to lock in a low interest rate.
Your property taxes increase, or rarely, decrease, and so might the homeowner's insurance in your monthly payment.
But generally monthly payments for a fixed-rate loan will increase very little.
Early in a fixed-rate loan, a large percentage of your monthly payment pays interest, and a significantly smaller percentage goes to principal.
As you pay, more of your payment is applied to principal.
Borrowers can choose a fixed-rate loan to lock in a low interest rate.
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