Mortgage Blog

Bonita Springs Mortgage Broker

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When you are considering buying a Bonita Springs home or are considering refinancing, you may be tempted to go to the local bank with the expectation of getting the best possible mortgage deal. However, this may not always be the best way to secure a mortgage, in fact, hiring a Bonita Springs mortgage broker may be more beneficial in the long run.

Market access

One of the best reasons to consider hiring Core Mortgage Financial is their access to the various mortgage markets. Unlike a traditional bank or mortgage company, Core has access to a variety of lenders with different programs. While a local bank or mortgage company may have only one investor where your loan can be secured, a mortgage broker has access to numerous investors.bonita-springs-mortgage-brokers-150x150.jpg

Contact us today using our online form to inquire about a Bonita Springs Mortgage.

You can also call our office at (239) 514-2674 or (855) 554-CORE.

Credit problem woes

If you have had any credit issues during the last twelve months, you may have a problem finding a bank who is willing to take a chance on lending you money for your home purchase or refinance. However, a good mortgage broker knows which investors are willing to consider borrowers with less than perfect credit. Many investors will review a borrower’s entire credit history as well as other circumstances which led to credit problems and will work with you to find a loan program that works for you. We go down to 550 credit score and can underwrite manually if required to close.

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Oftentimes, a bank will want a minimum down payment of 10 or 20 percent before they will approve a home purchase loan. Bonita Springs mortgage brokers often have access to investors who will consider loans with as little as three percent down with no monthly MI payment. It is important to note that the lower the down payment, the greater likelihood you will have to pay mortgage insurance. We have programs to avoid the monthly MI and keep cash in your pocket.

If you are considering taking advantage of the current low interest rates, whether you are buying a home or you are considering refinancing your home, contacting Core Mortgage Financial is a smart move. As a qualified Bonita Springs mortgage broker, we have access to numerous lenders who offer programs for all types of borrowers including FHA loans, VA loans and streamlined refinance programs. Call us today and let us help you take advantage of these low rates.

Call our office today to discuss your Bonita Springs home loan needs at 239-514-2674!

Helpful Terms Defined:

Mortgage: Collectively, the security instrument, the note, the title evidence, and all other documents and papers that evidence the debt. A Mortgage is a loan secured by a lien on real estate held in fee simple or on an acceptable leasehold estate. A loan made for the purpose of purchasing, building or rehabilitating real property, and secured by that property. A pledge of real property as collateral for payment of debt. The term is also used to describe both the mortgage (security instrument) and the promissory note evidencing the debt, which includes the terms of the debt’s repayment.

Note: The evidence of indebtedness for a mortgage loan. A note is the instrument evidencing the indebtedness secured by a security instrument that sets forth the amount the owner owes the lender and the manner in which the debt is to be satisfied. The note establishes the payment terms, conditions under which prepayments may be made, and the lenders rights in the event of default. A written agreement between the mortgagor and the mortgagee specifying the amount and terms of repayment for a loan.

Disclaimer: Rates, Programs, Guidelines are subject to change without notice. Please call our office for a personal credit analysis and program recommendation for your Bonita Springs, FL mortgage. NMLS #1743702

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