About the Mortgage Business

When you are ready to shop for a government Mortgage Loan you have two types of mortgage stores to shop - Direct Lenders and Mortgage Brokers.

M&I Bank is an example of Direct Lender. Brokers are the intermediaries who have many Lenders from which to choose. Direct Lenders have a small number of different loans available like one 30 year fixed and one 5/1 ARM program. Mortgage Brokers will shop hundres of Lenders and their store of loans and typically get you the best rates. Often there are no loan fees.

Once our company receives your application we will shop for the best mortgage broker for you who will in turn shop for the best Lender.  And since Lender's rates vary drastically, you will have the most options and will in turn receive the lowest rate.  Most mortgage shoppers here find this is the lowest rate they could find with the best terms.  And typically loan costs are also lower than what they would have gotten elsewhere.

government Mortgage Loan Programs

For every individual situation there is a beneficial program that will complement them. Depending on the reasons for refinance and future financial plans, these will determine the program that you will choose. The best thing to do is to go over your mortgage options with a loan officer.

Fixed Products are mortgage loans which have a constant interest rate and payment amount for the life of the loan. On a fixed product, the start rate is the floor rate. This means that the rate will not drop below the initial interest rate. The most common fixed mortgages have terms of 10 year, 15 years, 20 years, or 30 years. A fixed rate program has advantages in that the interest rate will never go above the initial start rate. No matter what happens to the federal rate your interest rate is guaranteed. Who is this program right for? Borrowers with good credit and available to qualify for low interest rates, should lock themselves into a fixed rate program.

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