Frequently Asked
Your Questions Answered
What is a mortgage agent?
A mortgage agent acts as a liaison between borrowers and lenders, helping clients find the best mortgage options available. A good mortgage agent has access to multiple lenders and can provide insights into various loan products that suit clients' financial situations.
How do I know my Commercial Mortgage Agent Presented my Deal to Enough Lenders?
Typically in Commercial Real Estate Lending, the Agent should put together a debt package and present this package to lenders. Before you sign the engagement letter and are locked in to a joker, may execution of the engagement letter contingent on your Mortgage Agent showing you the lender package. If they can't show you that or a redacted version of a previous lender package, you have a paper pusher and move on.
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There are many Residential Mortgage Agents trying to play commercial. Do not let you Deal get caught in limbo, talk to a Commercial Mortgage Specialist in Cornell Haynes.
How can I qualify for a mortgage?
Qualifying for a mortgage typically involves demonstrating a steady income, a good credit score, and a manageable debt-to-income ratio. It’s essential to provide income documents to qualify for the best rates, however, equity lending is also an option without traditional income verification.For those with multiple properties, letting you mortgage agent know this upfront will help keep the application process smooth.
What are the benefits of refinancing?
Refinancing can lower your monthly payments or allow you to access equity in your home. Homeowners often pursue refinancing to take advantage of lower interest rates, change the loan term, or consolidate debt, thus improving overall financial health.
How do you keep your rates so low on the Residential Mortgages side?
Residential mortgage rates are supposed to be low to keep housing affordable. If you are able to take care of your credit and generate the income to Cornell has the right debt solution for you. ​​