Home & Commercial Mortgage Services - Northwood Mortgage
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Broker VS Bank: Why Brokers Are The Obvious Answer

Posted onJuly 10/2015By

Qualifying for a mortgage is not a decision that should be made hastily. It takes deep consideration and attention to the details of your life that might affect your mortgage qualifications. You should have a stable credit and job history among other key factors that will affect your interest rate and ability to get a loan. When you go to apply for a mortgage loan, you will need to decide whether you should go through a direct lender or a broker. A direct lender is usually the bank which will loan you the money out right and then you will pay them back in installments. A broker will find a direct lender for you to work with. At this point you are probably wondering why some people may choose to go through a broker rather than directly through the bank. A broker has relationships with some of the best mortgage…

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Are You Paying Too Much For Your Home’s Closing Costs?

Posted onJuly 06/2015By

Knowing whether or not you are paying too much when it comes to your home compared to its actual value is something that needs to be figured out. You never want to be paying out more than should be required. Closing costs are just one of the many aspects of a mortgage loan that will require you to pay attention to it. All too often, people are found paying out too much in closing costs. So how do you know whether or not your closing costs are too high? By simply paying attention to the average interest rates for mortgages, you’ll become more knowledgeable of the industry and its costs which will greatly help you when you go to apply for a mortgage. Just like knowing which cars on the market are the best value for their cost when shopping for a new vehicle, becoming keen of all the aspects…

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