A mortgage is a secured financial instrument used to finance a property. It is always real estate secured. In almost all cases the interest that is paid to the mortgage is tax deductible and you create equity as you pay the loan off. It is one of the best paths to financial security and an important part of your financial portfolio.
Mortgage loans are always secured by a lien against the property. The interest rate, term of the mortgage, and product type are influenced by many variables. These variables can be anything from the difference between a purchase and a refinance, your equity or down payment in a property, or whether your credit score is 699 or 700. All of these variables create layered risk; the more layers we have to add to the mix the riskier and potentially more expensive your mortgage can become.
When you speak to one of our mortgage professionals we recognize these factors and will be there to guide you through the maze of underwriting layers, pricing pitfalls, and regulation hurdles every borrower now has to cross. We will go over the options available to you so you can make the most informed decision that is best for your specific loan scenario.