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Below are a sample of common question asked of us at
Mortgages Direct. If you have any questions that do
not appear below, please feel welcome to
contact us for inquiry. |
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Q: Why Mortgages Direct?
A: Two Reasons. The first has to do with how we operate that
is different from other mortgage companies. We have always believed
that the way to be successful is to give the best service, and in the
mortgage business that means every mortgage applicant must believe
that his or her business with us is being handled as well as it can
possibly be done. How do we manage to convey that to our customers?
more
Q: What does offers from four banks mean?
A: Mortgages Direct scans rates from over 200 national lenders
(not just banks) to make sure that our price to you is as low as it
can possibly be at any given time, and based on your individual circumstances.
(To explain, rates are dependent on several factors that usually vary
from loan to loan - chief among them the size of the loan, the applicant(s)
credit rating, the type of loan, the term of the loan and the current
interest rate market). more
Q: Broker vs. Lender?
A: Most people that aren't familiar with the mortgage business
don't know the difference. And in fact, today the difference is mostly
transparent to the consumer. To explain for those of you who are interested
however, a 'brokered' loan transaction is one where the funds lent
to the borrower for the closing of a residential mortgage come from
a company other than the one that originally took the loan application.
If the same company that took the application also advances the funds
used for a closing, it is known as a 'correspondent' transaction in
brief (a lender must first have the funds to lend). more |
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