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Advantages of a Mortgage Broker

Advantages of a Mortgage Broker Finding a fair mortgage loan can feel impossible, but with an independent mortgage broker like The Mortgage Source, you get a personal concierge to help you find the best rates and closing costs for you!     Brokers When you work with a mortgage broker, their job is to go out into the open market and find the best rates and closing costs for your particular situation. Brokers like The Mortgage Source often have professional relationships with lenders, and can get “wholesale rates” for their clients. That means you could get...

June 15th, 2018 | Independent Mortgage Broker, About Us, Mortgage Rate, Closing Costs, Advantages of a Mortgage Broker

3% Down Conventional Mortgage Loan

3% Down Conventional Mortgage Loan Learn about one of the newer conventional loan options, where you put 3 percent down instead of the typical 5 percent.     Traditionally Usually home buyers will put 5 percent down on a conventional mortgage loan, but what you may not know is that you may now qualify for a 3 percent down loan. There are some significant benefits to choosing this newer option. What’s the Difference? A 3 percent down loan means 2 percent less that you pay out of pocket, up front, for your home loan, compared to the five percent down conven...

June 4th, 2018 | Types of Loans, Qualify, Mortgage, Home Loans, Closing Costs, Mortgage Rate, 3% Down Conventional Mortgage Loan

Save: The Benefits Of 15-Year Refinancing

The Benefits Of 15-Year RefinancingLearn how refinancing a home mortgage could lower your interest rate and save you thousands. Refinancing is when you take out a new loan to completely pay off your original one. This may sound odd, but it gives you the opportunity to get a better interest rate and change the loan period, which could save you thousands of dollars over the course of your loan. Why would I want to refinance?Sometimes people choose to refinance their home mortgage because they qualify for a better interest rate than when they first purchased the home. If you had bad cre...

July 27th, 2017 | Predatory Lending, Mortgage Rate, Types of Loans, Home Loans, Refinancing, 15-Year Refinance, Save: The Benefits Of 15-Year Refinancing

How To: Protect Yourself From Predatory Lending

Protect Yourself From Predatory LendingLearn how to spot and avoid predatory lending practices so you don’t get stuck with a bad loan If you’re in the market for a home loan, you may have heard the term “Predatory Lending” before. Here we’ll explain what that means and how to spot predatory lenders so you don’t get stuck in a bad situation! What are predatory lending practices?In a nutshell, predatory lending is when a lender takes advantage of a borrower. The lender might propose unfair loan terms, such as charging the highest possible rates and f...

June 29th, 2017 | Types of Loans, Predatory Lending, Home Loans, Mortgage Rate, How To: Protect Yourself From Predatory Lending

Which Type Of Home Mortgage Loan Should I Get?

What Type Of Mortgage Loan Is Right For Me?Learn about 3 of the most common types of home mortgage loans and see which one might be right for you.  With so many different types of loans out there, it can be confusing where to start. Here are some of the most common types of mortgage loans and what you can generally expect with each one. An independent mortgage broker like The Mortgage Source can help make sure you get the right loan for your unique situation, along with the best rate and closing cost for you. Conventional MortgageConventional mortgage loans are the most common type o...

May 31st, 2017 | Home Loans, Independent Mortgage Broker, Mortgage Rate, Types of Loans, Which Type Of Home Mortgage Loan Should I Get?

How Do I Find The Best Mortgage Rate?

How Do I Find The Best Mortgage Rate?Top 3 Reasons To Use An Independent Mortgage Broker: Get better rates and closing costs, eliminate the bureaucracy and customize your mortgage, and work directly with decision makers Whether you’re looking to finance a new home purchase or refinance one you already own, deciding where to get a loan can be confusing. There are banks, national lenders, and independent mortgage brokers. Here are the top three reasons why you should choose an independent mortgage broker for your loan. If you like to live, eat, and shop local, why not get your lo...

May 23rd, 2017 | Mortgage Rate, Home Loans, Independent Mortgage Broker, Customize, How Do I Find The Best Mortgage Rate?