Mortgage companies are firms that fund mortgages for residential or commercial properties. Often, they are just the originators of a loan. Mortgage companies give different loan terms on different loan options. Fixed rates are more stable with a longer term of payment. Meanwhile, adjustable rates come with a shorter duration and lesser expense. Mortgage companies market themselves to potential borrowers and seek funding from several clients. These clients are financial institutions that provide the capital for the mortgage itself.
Provisions for the mortgage are determined by mortgage brokers. They are the mediators that bring mortgage borrowers and mortgage lenders together. Mortgage brokers compile all paperwork from the borrower and passed them to a mortgage lender for approval. Mortgage lenders loan mortgage funds under their name. Compensation for the services of the lenders is collected by the mortgage broker.
Are you having troubles taking out a loan? Do you find yourself confused about where to find a reliable mortgage broker in Vista, California? Worry no more; at Severino Financial, we offer quality service to our clients. Mike Severino, the president of the firm, is a mortgage broker with almost 30 years of experience in the industry. Our firm provides fast service and competitive interest rates on a variety of loan products.
A Severino Financial Firm, we guarantee safe loan processing for homeowners and investors, even for the borrowers who have been turned down by other lenders. We also guarantee low-interest rates and costs on all available loans.
As a mortgage firm, Severino Financial offers our clients quality service and competitive interest rates on our loan products. Loan products, such as home loans and refinances, need time and cost money to be processed. Our mortgage loan firm offers simple ways to refinance or get home loans with minimal stress and expense. We also collect no upfront fees and no prepayment penalties for our services. Here are some of the services we offer:
Adjustable-rate mortgage loans are normally of shorter duration. These loans offer lower initial rates at first, and then it will gradually adjust yearly. Those adjustments are in accordance with the market conditions making it hard to predict the changes. Adjustable-rate mortgages are risk-dependent since it can’t be predicted whether your rate will go up or down.
Fixed-rate mortgage loans have fixed interest rates all throughout the loan. This loan is available in 15- and 30-year terms, unlike adjustable rates which come with a shorter term of one, three, five, or seven years. Since this home loan is fixed, your loan payment stays stable.
Interest-only mortgages allow the payments to only cover the loan’s interest. Thus, the borrowers’ payments are significantly lowered. Though, after the initial term, your monthly mortgage payment will increase.
Cash-out refinance gets you more than the amount owed on your current loan. The excess money that you are able to get can be used in paying off other outstanding loans and balances. The interest rate on a refinance is normally lower than the rates on other debts. Also, the interest on cash-out refinances may be tax deductible.
If you have equity in your home, bad credit refinancing may be an option. This may help you reduce your monthly interest rate, consolidate debt, or change your loan term. Bad credit loan refinancing allows you to include other owed amounts to your debt.
Severino Financial Mortgage Company offers possible options for your mortgage, such as first mortgage, piggyback or second mortgage, and hard money loans are available. We ensure quality service throughout your mortgage. You can choose from different home loans and terms. Severino Financial Mortgage Firm also allows you to refinance your loans and debts. This will be a great help if you are carrying an outstanding balance outside your mortgage.
Severino Financial Mortgage Firm guarantees fast service with the lowest rates and fees of all loan products on the market.
Getting your mortgage refinancing loan and home loan involves many steps and expenses. You should contact a trusted mortgage firm like Severino Financial Mortgage Firm. We ensure that you get the best rates and options in the loan market. Contact us at (760) 598-9366 for more details.