Mortgage Loans That Work
The mortgage industry has been reformed since the cruel realities of the toll that has crippled the housing market. As a result of these federally enforced lending practices, today’s homebuyers can be assured that they are financially qualified to purchase real estate with home loans that are transparent.
These purchasers can also be assured that the property they purchase has a true market value, which is supported by a completely valid third party independent appraisal. Gone are the days of low documented loans. Also gone are the days of inaccurate estimates for closing fees.
In place of these loans are fixed rate mortgages and adjustable rate mortgages that must be accompanied by full disclosure of all bank fees and compliant with new truth in lending policies. As they should be, the penalties for noncompliant lenders are harsh. With interest rates below 4 percent, mortgage loans are a hot product for qualified applicants.
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