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What is a Mortgage
Broker?
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| A mortgage broker is an independent contractor
that works on behalf of the borrower to help them find the right home financing
program to meet their needs. The advantage to the customer is that a mortgage
broker can broker mortgage loans through multiple investors, thus giving
clients access to a wide variety of home financing programs. Brokers can sort
through hundreds of programs and not be tempted to make a program fit that
might not get approved or accomplish the goals of the home owner. |
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How does the home
mortgage process work with a Mortgage Broker?
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| The first step in the home financing process is
completing a mortgage application. You can do this on our website using the
secure online application or by calling 877-728-3569 and speaking to a loan
advisor who can take an application over the phone. With either method, the
application process takes about ten to twenty minutes start to finish. Once an
AAXA loan advisor has your mortgage application, they will begin to look for
the loan program that will be the best for you, taking into consideration
information such as: |
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the length of time you plan to stay in the home |
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how much money (if any) you would like to put down |
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whether you would like to take cash out via a refinance |
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whether you are looking for the lowest monthly payment or to pay the lowest
interest over time |
| At this point your loan advisor will present you
with a Good Faith Estimate in writing for your mortgage detailing the rate and
fees associated with the loan. He or she will quote a few different programs
giving you options with differing down payments, loan terms, and payment types
and help you to weigh the pros and cons of these different choices. When you
are satisfied with your home loan program and rate and are ready to move
forward, your loan advisor will "lock in" this rate for you. You will be asked
to sign an Agreement For Financial Services which guarantees the agreed upon
rate and term combination when the loan is approved and closes within the
lock-in period (usually a timeframe of 30, 45, or 60 days). Your loan will then
move into our fulfillment department. Each step of the way, your loan advisor
will walk you through the fulfillment process, and keep you up to date until
closing! |
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| Please note that AAXA Discount Mortgage is also a
second mortgage broker and can assist you with finding a second mortgage or
home equity loan for your home. |
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AAXA Discount Mortgage –
an Online Mortgage Broker that Puts You First
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| At AAXA our number one goal is to serve our
customers well. We want to become your mortgage broker for life and we will
work to earn your trust by providing the lowest combination of rate and fees we
can find along with the highest level of customer service in the industry. If
at any time we fall short of this goal, we hope that you will let us know. We
are committed to continuous improvement, and know that we always have more to
learn and room to grow. |
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