Mission Statement
The BEST Mortgage Quotes.com was founded with the simple intention of making the mortgage process a hassle-free experience. By focusing our attention on the experience of the consumer, we are committed to giving each customer a straightforward and uncomplicated process, while delivering the most competitive rates and products on the market!

In order to achieve the highest quality service, our company believes in working with only the best in

every area: the most reputable lenders, the most effective vendors and the latest technology. By employing these resources, The BEST Mortgage Quotes.com resolves itself to always position its customers to benefit from all the finest channels every industry has to offer.

Our standards are the cornerstone of the company. The unwavering fidelity to these ideals will continue to help reinforce the determination of our members, as well as strengthen our collective pledge to providing each consumer with the assistance and care they deserve!

 

The Loan Process
Getting a mortgage can seem like one of the more daunting experiences a consumer faces; it is easy to get lost and not know where you are in the process, and be unsure about what is left to be done. Below is an outline that will help you work with your mortgage broker and/or lender, and get through the process quickly and easily.

The Application
If you are ready to get started with your loan after the initial conversations with your loan officer, you will receive a Loan Application Package which contains standard mortgage forms, disclosures you need to complete, and a checklist of additional personal documents. Complete and sign where indicated and return with all additionally requested documents, along with the check for the application fee and estimated appraisal cost.

Document Review / Appraisal
Once your mortgage broker/lender receives your loan package, it is submitted to their processing department for review; any incomplete or unsigned documentation is re-requested from the borrower. A loan will remain in document review until all outstanding information is received, but will typically only last approximately Three (3) days. When all documents are in place, an appraisal is ordered - it typically takes Two (2) days for the appraiser to contact you to schedule a suitable time to perform the inspection, and an additional Three (3) days to complete the appraisal document.

Loan Underwriting / Approval
Upon receipt of the appraisal by your mortgage broker/lender, your loan package is submitted into the lender's underwriting department for review and approval. This process requires anywhere from Seven to Ten (7-10) days, if there are no stipulations brought out by the underwriters examining your loan. Any stipulations must be cleared immediately by you or your mortgage broker in order avoid delaying your mortgage. Once the loan approval has been received, the loan moves into the closing department and for final appraisal review.

Loan Closing
In the closing department, your loan is reviewed by a mortgage processor who ensures that all documents are finalized, and coordinates all issues accompanying the closing, such as completed title work, final payoff amounts, and insurance information. Your final loan package is then forwarded to the title company where you are contacted to sign all necessary paperwork in conjunction with the mortgage.
Under the best circumstances, most loans take approximately Thirty (30) days from start to finish, excluding the Three (3) day rescind period on refinances.

And remember, If you have any questions concerning the loan process at anytime, never hesitate to contact your loan officer.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About us
Looking for an easier way to get a mortgage? The Best Mortgage Quotes.com is here to help solve the problems all consumers face today when trying to obtain home financing: misleading, rates, inexperienced mortgage personnel, confusing explanations and a lengthy mortgage process.

Don't be mislead and avoid frustration. Call us TODAY for a hassle free quote and let us guide you through the process. Navigate our site and feel free to contact us by phone:
(561) 245-1313 or by email


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Mortgage Products
30 Year Fixed Rate: This loan has a Thirty(30) year amortization period with a fixed rate for the life of the loan.

• A mortgage payment that will remain stable for the life of the loan.
• Best suited for borrowers looking to own the property for more than  Eight (8) years.

Pros:

 

• Long term fixed rates are not as competitive as adjustable rates.
• If you plan on owning the property for a period of One to Seven (1-7)  years, an adjustable mortgage saves you more money over the life of the loan.

Cons:

 

15 Year Fixed Rate: Similar to the 30 Year Fixed Rate program; this loan instead carries an amortization of Fifteen (15) years.

• Aggressive program that allows you to pay down your principle balance at a faster rate than a standard Thirty (30) year program.

Pros:

 

• With a smaller amortization schedule payments are larger than a 30year note.
• Decreases the amount of cash flow one may have on a monthly basis with the larger payment.

Cons:

 

5 Year ARM: Your interest rate is fixed for the first Five (5) years with amortization schedule of Thirty (30) years.

• This program allows you to take advantage of a lower rate compared to conventional longer term fixed rate programs.
• The lower rate translates into a lower monthly payment, increasing personal cash flow per month.
• Provides security of an interest rate fixed for a set number of years.

Pros:

 

 

• Becomes an adjustable rate mortgage after initial fixed term, which can lead to a higher payment after Five (5) years if major indices increase.

Cons:


5 Year Interest Only Option ARM: Similar to the standard 5 Year ARM program, except the payment due is the interest that accrues on the loan every month, excluding the principle balance.

• An excellent way to increase monthly cash flow, due to very low monthly payments.
• Most interest only programs allow a pay down of principle without penalty.
• A great program for individuals whose income fluctuates on a monthly basis (such as self employed borrowers).

Pros:

 

 

• Paying only interest payments does not reduce the amount of the principle balance on the loan.

Cons:

 

7 Year Balloon: This product has a Thirty (30) year amortization with a fixed rate for the first Seven (7) years, after which the borrower has the conversion option to a fixed rate at the end of Seven (7) years.

• Allows the borrower the option to take advantage of a lower interest rate for the first Seven (7) years of the loan.

Pros:

 

• At the time of maturity, rates may be significantly higher than the start rate.
• In deciding not to convert to a fixed rate, the loan balloons and your remaining principle balance is due in full.

Cons:

 
 

 

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